FIRST QUARTER 2008

FIXED INCOME PRESENTATIONApril 24, 2008

(PRELIMINARY RESULTS)

SLIDE 1

Wholesales (000)* 1,531 (119)Revenue (Bils.)* $ 39.4 $ (3.6)

Continuing Operations*Pre-Tax Profits (Mils.) $ 736 $ 669After-Tax Profits (Mils.) 525 697Earnings Per Share 0.20 0.29

Special Items Pre-Tax (Mils.) $ (416) $ (303)

Net IncomeAfter-Tax Profits (Mils.) $ 100 $ 382Earnings Per Share 0.05 0.20

Automotive Gross Cash (Bils.)** $ 28.7 $ (6.5)

* Excludes special items, see Slide 2 and Appendix for reconciliations to GAAP

** Automotive Gross Cash includes cash and cash equivalents, net marketable securities, loaned securities, and for 2007 only, short-term Voluntary Employee Beneficiary Association (VEBA) assets

2008O / (U) 2007

First Quarter

TOTAL COMPANY

2008 FIRST QUARTER FINANCIAL RESULTS

SLIDE 2

Special ItemsNorth America- Personnel Actions and Associated Curtailments $ (223)- U.S. Dealer Reductions (Including Investment Write-Off) (108)- Ballard Restructuring / Other (72)

Subtotal North America $ (403)

Other Personnel Actions (13)

Jaguar Land Rover 0*

Total Special Items $ (416)

Memo: Special Items Impact on Earnings Per Share** $(0.15)

* Operating profit was essentially offset by an impairment charge; wholesale and revenue data are shown in the Appendix** Earnings per share from continuing operations is calculated on a basis that includes pre-tax profit, provision for taxes, and minority interest; see Appendix for method of calculation

(Mils.)

Pre-Tax Profit / (Loss)

TOTAL COMPANY

2008 FIRST QUARTER SPECIAL ITEMS

SLIDE 3

FirstQuarter(Bils.)Gross Cash

March 31, 2008 $28.7December 31, 2007 34.6

Change in Gross Cash $ (5.9)

Operating-Related Cash FlowAutomotive Pre-Tax Profits** $ 0.7Capital Spending (1.4)Depreciation and Amortization 1.5Changes in Working Capital / Other (incl. Timing Differences) (1.3)

Subtotal $(0.5)

Up-Front Subvention Payments to Ford Credit (1.0)

Total Automotive Operating-Related Cash Flow $(1.5)

Other Changes in CashPersonnel Separation Programs $(0.1)Pension Contributions (0.6)VEBA Related*** (4.5)Tax Refunds, Tax Payments, and Tax Receipts from Affiliates 0.9Divestitures 0.1All Other (0.2)

Change in Gross Cash $(5.9)

* See Appendix for reconciliation to GAAP** Excludes special items; see Slide 2 and Appendix for reconciliation to GAAP*** Includes transfers to Temporary Asset Account

AUTOMOTIVE SECTOR

2008 FIRST QUARTER CASH*

SLIDE 4

Gross Cash* $ 28.7

Available Automotive Credit Lines

(Secured and Unsecured)** 11.9

Total Liquidity $ 40.6

Memo: Debt $ 27.1

* Includes cash and cash equivalents, net marketable securities, and loaned securities, and excludes UAW-Ford Temporary Asset Account securities

** Total committed secured and unsecured automotive credit lines (including local lines available to foreign affiliates) were $13.2 billion on March 31, 2008

March 31, 2008(Bils.)

AUTOMOTIVE SECTOR

AUTOMOTIVE FINANCIAL RESOURCES

SLIDE 5

Planning Assumptions

Industry Volume (SAAR) -- U.S. (Mils.) 16.0 15.6 15.3 - 15.6-- Europe (Mils.)* 17.6 18.0 17.6 - 18.0

Operational MetricsCompared with 2007

- Quality Improve Improved On Track

- Automotive Costs** Improve by about $3 Billion Improved On Trackby $1.7 Billion

Absolute Amount- U.S. Market Share (Ford and Lincoln Mercury) Low End of 14-15% Range 15.0% On Track

- Operating Cash Flow Negative $(1.5) Billion On Track

- Capital Spending Around $6 Billion 1.4 On Track

* European 19 markets

** At constant volume, mix, and exchange; excludes special items

Full YearPlan First Quarter

Full YearOutlook

AUTOMOTIVE SECTOR

2008 PLANNING ASSUMPTIONS AND

OPERATIONAL METRICS

SLIDE 6

TOTAL COMPANY

2008 OUTLOOK

Automotive** Loss Equal to orBetter

Financial Services Profit Worse

Pre-Tax Operating Results** Loss Worse

Special Items Loss Better

Pre-Tax Results Loss Better

* Adjusted to exclude Jaguar Land Rover and Aston Martin

** Excludes special items

ComparisonTo 2007*Outlook

SLIDE 7

TOTAL COMPANY

FORWARD YEAR KEY BUSINESS METRICS

• Profitable in North America andTotal Automotive in 2009* On Plan

• $5 billion cost reductions in North Americaby 2008 compared with 2005** On Plan

• 14-15% U.S. market share Low End of Range(Ford and Lincoln Mercury) for 2008

• Cash outflow of $12 - $14 billion in 2007 - 2009 to fund operating losses and On Planrestructuring (employee separations)

* Excluding special items** At constant volume, mix, and exchange; excludes special items

Status

SLIDE 8

Key Metrics*Pre-Tax Profits (Mils.) First Quarter

Receivables (Bils.)On-Balance Sheet $ 135 $ 141Managed 146 146Charge-Offs (Mils.)On-Balance Sheet $ 105 $ 227Managed 123 242Loss-to-Receivables RatioOn-Balance Sheet 0.32% 0.65%Managed- U.S. Retail and Lease 0.50 1.07- Worldwide Total 0.34 0.66Allow. for Credit LossesWorldwide Amount (Bils.) $ 1.0 $ 1.2Pct. Of EOP Receivables 0.76% 0.84%Leverage (To 1)Financial Statement 11.2 10.2Managed 11.1 9.4Dividend/Distribution (Bils.) $ 0 $ 0Net Income (Mils.) $ 193 $ 24

2007 2008

First Quarter2007

First Quarter2008

* See Appendix for calculation, definitions and reconciliation to GAAP** Market valuation adjustments from derivatives

FORD CREDIT RESULTS AND METRICS --

2008 FIRST QUARTER

$293

$36

SFAS 133** (Mils.) $(36) $(159)Pre-Tax Profits Excl.SFAS 133** (Mils.) 329 195

$(257)

SLIDE 9

2008 FIRST QUARTER FORD CREDIT PRE-TAX PROFIT

COMPARED WITH 2007(Bils.)

$(0.2)

$0

FinancingMargin

LeaseResidual

$(0.3)

Volume2008

$(0.1)

2007 CreditLoss

$0

$0.3

$0.1

$0.2

Other SFAS 133*

$(0.2)

Memo:Excl. SFAS 133*(Mils.) $329 $195

$(0.3)

* Market valuation adjustments from derivatives

Change in Reserve $(0.2)Loss Severity (0.1)

SLIDE 10

CREDIT LOSS METRICS*

$105 $123$184

$18$14

$16$17

$227$216

$15

Worldwide Managed Charge-Offs (Mils.)

On-Balance Sheet

SecuritizedOff-Balance Sheet

Ford Lincoln Mercury U.S. Retail & Lease Loss-to-Receivables Ratio (Pct.)

Worldwide Loss-to-Receivables Ratio (Pct.)

$123

$242

$137

Q3 Q1Q1 Q22007

Q42008

$200

Managed On-Balance Sheet

0.54%

0.38%

0.66%0.62%

0.34% 0.36%

0.65%0.61%

0.53%

0.32%

Managed On-Balance Sheet

0.78%

0.51%

1.07%1.13%

0.50% 0.51%

1.07%1.14%

0.79%

0.49%

Q1Q1 Q2 Q3 Q4

2008Q1Q1 Q2 Q3 Q4

2007 2008

$233

2007

* Continuing operations

SLIDE 11

CREDIT LOSS DRIVERS -- FORD LINCOLN MERCURY U.S. RETAIL AND LEASE*

Over-60-Day Delinquencies

Repossessions (000) Loss Severity

Q3 Q1Q1 Q22007

Q4

* On a serviced basis

Repo. Ratio

2008Memo: New Bankruptcy Filings (000)

6 7 7 7 8

Q1Q1 Q2 Q3 Q42007 2008

Q1Q1 Q2 Q3 Q42007 2008

$6,600$7,000

$7,500

$8,300$8,800

19

16

1920 20

2.17%2.13%1.95%

1.61%

1.87%

0.16% 0.15%

0.22% 0.23% 0.22%

SLIDE 12

Memo: Ford Lincoln Mercury U.S. Return Rates

84% 81% 83% 84% 86%

9 10 95 5

1416 16

12 14

25 2218

21

29

LEASE RESIDUAL PERFORMANCE --

FORD LINCOLN MERCURY U.S.

Lease Return Volume (000)

$17,365

$16,095

$16,760

$14,970

$13,465

$13,880

Auction Values (At Q1 2008 Mix)

36-Month

24-Month

Memo: Worldwide Net Investment in Operating Leases (Bils.)

$26.5 $28.1 $29.2 $29.7 $29.3

48 48

43

24-Month36-Month39-Month/Other

48

Q1Q1 Q2 Q3 Q4

20082007

Q1Q1 Q2 Q3 Q4

20082007

38

SLIDE 13

FORD CREDIT FUNDING STRUCTURE

Equity

Asset-Backed Commercial Paper

$146 $146

$64

$79

$12 $14

Year-end2006

Year-end2007

Year-end2008 Fcst

$6

$17

Funding of Managed Receivables (Bils.)

Securitized Funding as Percentage

of Managed Receivables 48% 51% 54% 49-54%

Q12008

$14

$69

$13

Term Asset-Backed Securities

Term Debt and Other

$17Cash, Cash Equivalents and Marketable Securities*

$16$22

$15

$145$130 - 140

$55-65

$58-62

$12-14

$13-16

$64

$61

$12-15

$5$4-5

$5Ford Interest Advantage

$54

* Excludes marketable securities related to insurance activities

SLIDE 14

FORD CREDIT 2008 FUNDING STRATEGY

• Maintain strong liquidity to meet near-term funding obligations

– Hold substantial cash balance

– Continue to diversify global asset-backed funding capabilities

– Renew global committed asset-backed funding capacity while maintaining a diversity of liquidity providers

– Potentially issue unsecured term debt

• Continue to explore and execute various alternative business arrangements

SLIDE 15

Public Transactions

Unsecured $ 9 $ 9 $ 6 $ 0- 2 $ 0

Securitizations** 12 14 6 8-14 4

Total Public $21 $ 23 $12 $ 8-16 $ 4

Private Transactions*** $18 $ 29 $28 $15-22 $ 8

FORD CREDIT TERM FUNDING PLAN

2005Actual(Bils.)

2006 Actual(Bils.)

2007Actual(Bils.)

Forecast(Bils.)

YTD*Actual(Bils.)

2008

$40

* YTD actual through April 23, 2008** Reflects new issuance; excludes whole loan sales and other structured financings

*** Includes private term debt, securitizations, other structured financings and whole loan sales; excludes sales to Ford Credit’s on-balancesheet asset-backed commercial paper programs

SLIDE 16

FORD CREDIT LIQUIDITY PROGRAMS

CommittedCapacity / Liquidity

Utilization of Liquidity

March 31, 2008 (Bils.) $71.9

Liquidity available for use is $24 billion

UnsecuredCredit

Facilities

FCARLines

Conduits Cash*** Total

$30.1*

$16.9*

$3.0

$15.9

Capacity & Cash****

$62.8 Liquidity

Committed Capacity = $56.0 billion*

$0.9

$14.8

$3.2

$38.9

$19.6

$0.4

UnsecuredCredit

Facilities

FCAR Conduits TotalUnsecuredCP

March 31, 2008 (Bils.)

UnratedNotes

Facility

UnratedNotes

Facility

$6.0* $5.7**

$24

$3.4***$5.7**

* FCAR, Unrated Notes Facility and Conduits subject to availability of sufficient assets; FCAR commercial paper must be supported by bank lines equal to at least 100% of the principal amount; conduits includes other committed securitization programs

** Securitization cash is to be used only to support on-balance sheet securitization transactions.*** Excess capacity is capacity in excess of eligible receivables **** Cash, cash equivalents and marketable securities (excludes marketable securities related to insurance activities)

SecuritizationCash

ExcessCapacity

SLIDE 17

FordFord

• Profitable quarter led by strong results at Ford Europe and Ford South America

• Ford North America results improved by nearly $600 million compared with First Quarter 2007

• First Quarter 2008 automotive cash of $28.7 billion**, total liquidity of $40.6 billion

Ford CreditFord Credit

• Pre-tax profit of $36 million; net income of $24 million

• North American operations transformation is complete

• Completed $12 billion of term funding year-to-date

• Liquidity available for use of $24 billion

FIRST QUARTER 2008 SUMMARY*

* See Appendix for reconciliation to GAAP** Includes cash and cash equivalents, net marketable securities, and loaned securities, and excludes UAW-Ford

Temporary Asset Account securities

SLIDE 18

SAFE HARBOR

Automotive Related:• Continued decline in Ford's market share;• Continued or increased price competition for Ford vehicles resulting from industry overcapacity, currency fluctuations or other factors;• An increase in or acceleration of market shift away from sales of trucks, sport utility vehicles, or other more profitable vehicles, particularly in the United States;• A significant decline in industry sales and our financing of those sales, particularly in the United States or Europe, resulting from slowing economic growth, geo-political

events or other factors;• Lower-than-anticipated market acceptance of new or existing Ford products;• Continued or increased high prices for or reduced availability of fuel;• Adverse effects from the bankruptcy or insolvency of, change in ownership or control of, or alliances entered into by a major competitor;• Economic distress of suppliers that has in the past or may in the future require Ford to provide financial support or take other measures to ensure supplies of components

or materials;• Work stoppages at Ford or supplier facilities or other interruptions of supplies;• Single-source supply of components or materials;• Inability to implement Memorandum of Understanding with UAW to fund and discharge retiree health care obligations because of failure to obtain court approval or

otherwise;• The discovery of defects in Ford vehicles resulting in delays in new model launches, recall campaigns or increased warranty costs;• Increased safety, emissions (e.g., CO2), fuel economy or other regulation resulting in higher costs, cash expenditures and/or sales restrictions;• Unusual or significant litigation or governmental investigations arising out of alleged defects in Ford products or otherwise;• A change in Ford’s requirements for parts or materials where it has entered into long-term supply arrangements that commit it to purchase minimum or fixed quantities of

certain parts or materials, or to pay a minimum amount to the seller ("take-or-pay contracts");• Adverse effects on our results from a decrease in or cessation of government incentives;• Adverse effects on Ford’s operations resulting from geo-political or other events;• Substantial negative operating-related cash flows for the near- to medium-term affecting Ford’s ability to meet its obligations, invest in its business or refinance its debt;• Substantial levels of indebtedness adversely affecting Ford’s financial condition or preventing Ford from fulfilling its debt obligations (which may grow because Ford is able

to incur substantially more debt, including additional secured debt);

Ford Credit Related:• Inability to access debt or securitization markets around the world at competitive rates or in sufficient amounts due to additional credit rating downgrades, market volatility,

market disruption or otherwise;• Higher-than-expected credit losses;• Increased competition from banks or other financial institutions seeking to increase their share of financing Ford vehicles;• Collection and servicing problems related to our finance receivables and net investment in operating leases;• Lower-than-anticipated residual values or higher-than-expected return volumes for leased vehicles;• New or increased credit, consumer or data protection or other regulations resulting in higher costs and/or additional financing restrictions;• Changes in Ford’s operations or changes in Ford’s marketing programs could result in a decline in our financing volumes;

General:• Labor or other constraints on Ford's or our ability to restructure its or our business;• Substantial pension and postretirement healthcare and life insurance liabilities impairing Ford’s or our liquidity or financial condition;• Worse-than-assumed economic and demographic experience for postretirement benefit plans (e.g., discount rates, investment returns, and health care cost trends);• Currency or commodity price fluctuations; and

• Changes in interest rates.

Statements included or incorporated by reference herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations, forecasts, and assumptions by our management and involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those stated, including, without limitation:

We cannot be certain that any expectations, forecasts or assumptions made by management in preparing these forward-looking statements will prove accurate, or that any projections will be realized. It is to be expected that there may be differences between projected and actual results. Our forward-looking statements speak only as of the date of their initial issuance, and we do not undertake any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. For additional discussion of these risk factors, see Item 1A of Part I of Ford’s 2007 10-K Report and Item 1A of Part I of Ford Credit’s 2007 10-K Report.

APPENDIX

Income (Mils.)

Pre-Tax Income (Excl. Special Items) $ 736 $ 669

Special Items (416) (303)

Pre-Tax Income (Incl. Special Items) $ 320 $ 366

Minority Interest (122) (64)

Taxes (97) 84

Net Income from Continuing Operations $ 101 $ 386

Discontinued Operations (1) (4)

Net Income $ 100 $ 382

* See Slide 2 for details of First Quarter 2008 special items

2008

Amount

B / (W)2007

TOTAL COMPANY

2008 FIRST QUARTER INCOME FROM CONTINUING OPERATIONS COMPARED WITH NET INCOME*

Appendix 1 of 17

North America $18,559 $17,110 $ 0 $ 0 $18,559 $17,110South America 1,283 1,842 0 0 1,283 1,842

Europe 8,632 10,155 0 0 8,632 10,155Volvo 4,572 4,197 0 0 4,572 4,197

Asia Pacific Africa 1,769 1,668 0 0 1,769 1,668Mazda and Assoc. Operations 0 0 0 0 0 0

Subtotal Ongoing Auto. $34,815 $34,972 $ 0 $ 0 $34,815 $34,972

JLR and Aston Martin 3,815 4,145 0 4,145 3,815 0Total Automotive $38,630 $39,117 $ 0 $ 4,145 $38,630 $34,972

Financial Services 4,375 4,396 0 0 4,375 4,396Total Company $43,005 $43,513 $ 0 $ 4,145 $43,005 $39,368

* From continuing operations, 2007 adjusted for discontinued operations at Ford Credit, and for reassignment of AutoAlliance

International from Mazda and Associated Operations to North America.

2008(Mils.)

Revenue(Incl. Special Items) Special Items

Revenue(Excl. Special Items)

2008(Mils.)

2008(Mils.)

2007(Mils.)

2007(Mils.)

2007(Mils.)

TOTAL COMPANY

2007 – 2008 FIRST QUARTER REVENUE*

Appendix 2 of 17

North America* 744 704 0 0 744 704South America 84 92 0 0 84 92

Europe 500 500 0 0 500 500Volvo 128 106 0 0 128 106

Asia Pacific Africa** 126 129 0 0 126 129Mazda and Assoc. Operations 0 0 0 0 0 0Subtotal 1,582 1,531 0 0 1,582 1,531

Other Automotive 0 0 0 0 0 0Subtotal Automotive Ops. 1,582 1,531 0 0 1,582 1,531

JLR and Aston Martin 68 74 0 74 68 0Total Automotive 1,650 1,605 0 74 1,650 1,531

TOTAL COMPANY

2008 FIRST QUARTER WHOLESALES*

* Includes consolidation of Automotive Alliance International (AAI) wholesales from production of Mazda6 vehicles only** Included in wholesales of Asia Pacific Africa are Ford-badged vehicles sold in China and Malaysia by certain unconsolidated affiliates

totaling about 55,000 and 38,000 units in 2008 and 2007, respectively.

2008(000)

Wholesales(Incl. Special Items) Special Items

2008(Mils.)

2008(Mils.)

2007(Mils.)

2007(Mils.)

2007(000)

Wholesales(Excl. Special Items)

Appendix 3 of 17

NetIncome(Mils.)Numerator

Net Income $ 100 $ 525Impact on Income from assumed exchangeof convertible notes and convertible trustpreferred securities 0 66

Income for EPS $ 100 $ 591

DenominatorAverage shares outstanding 2,188 2,188Net issuable shares, primarily stock options 20 20Convertible notes 0 538Convertible trust preferred securities 0 162

Average shares for EPS 2,208 2,908

EPS $ 0.05 $ 0.20

Cont. Ops. --Excl.

Special Items(Mils.)

First Quarter 2008

TOTAL COMPANY

CALCULATION OF EARNINGS PER SHARE

Appendix 4 of 17

PBT $ 736 $ 320

Less: Unconsolidated Subsidiaries (142) (142)

Adjusted PBT $ 594 $(208) (35.0)% $ 178 $ (62) (35.0)%

Tax Credits / Adjustments / Valuation Allowance 119 20.0 (35) (19.5)

Tax Provision $ (89) (15.0)% $ (97) (54.5)%

Taxes(Mils.)

Tax Rate(Pct.)

Excluding Special Items Including Special Items

PBT(Mils.)

Continuing Operations

Taxes(Mils.)

Tax Rate(Pct.)

PBT(Mils.)

TOTAL COMPANY

2008 FIRST QUARTER EFFECTIVE TAX RATE

Appendix 5 of 17

North America $(702) $(448) $ (89) $(403) $(613) $ (45)South America 113 257 0 0 113 257

Europe 208 731 (11) (8) 219 739Volvo 90 (151) (4) 0 94 (151)

Asia Pacific Africa (28) (4) (2) (5) (26) 1Mazda and Assoc. Operations 21 49 0 0 21 49

Subtotal $(298) $ 434 $(106) $(416) $(192) $ 850

Other Automotive (342) (181) 0 0 (342) (181)Subtotal Ongoing Auto. $(640) $ 253 $(106) $(416) $(534) $ 669

JLR and Aston Martin 301 0 (7) 0 308 0Total Automotive $(339) $ 253 $(113) $(416) $(226) $ 669

Financial Services 293 67 0 0 293 67Total Company $ (46) $ 320 $(113) $(416) $ 67 $ 736

* From continuing operations, 2007 adjusted for discontinued operations at Ford Credit and for reassignment of AutoAlliance International resultsfrom Mazda and Associated Operations to North America

2008(Mils.)

Pre-Tax Profits(Incl. Special Items) Special Items

Pre-Tax Profits(Excl. Special Items)

2008(Mils.)

2008(Mils.)

2007(Mils.)

2007(Mils.)

2007(Mils.)

TOTAL COMPANY2007 – 2008 FIRST QUARTER PRE-TAX RESULTS*

Appendix 6 of 17

AUTOMOTIVE SECTOR

GROSS CASH RECONCILIATION TO GAAP

Cash and Cash Equivalents $20.7 $18.7 $(2.0)

Marketable Securities 2.0 6.6 4.6

Loaned Securities 10.3 6.7 (3.6)

Total Cash / Marketable and Loaned Securities $33.0 $32.0 $(1.0)

Securities-In-Transit (0.3) (0.7) (0.4)

Short-Term VEBA Assets* 1.9 - (1.9)

UAW-Ford Temporary Asset Account - (2.6) (2.6)

Gross Cash $34.6 $28.7 $(5.9)

* Historically, amounts accessible within 18 months; short-term VEBA is no longer reported within gross cash as of January 1, 2008,

consistent with our new UAW VEBA agreement (which is subject to court approval)

March 31, 2008B / (W)

Dec. 31, 2007(Bils.)

March 31,2008(Bils.)

Dec. 31,2007(Bils.)

Appendix 7 of 17

Cash Flows from Operating Activities of Continuing Operations $ 0.7 $(0.8)

Items Included in Operating-Related Cash Flows- Capital Expenditures (1.4) (0.1)- Net Transactions Between Automotive and

Financial Services Sector (0.7) (0.2)- Net Cash Flows from Non-Designated Derivatives 0.3 0.1

Items Not Included in Operating-Related Cash Flows- Cash Impact of Jobs Bank Benefits & Separation Programs 0.1 (1.1)- Net (Sales) / Purchases of Trading Securities - (0.8)- Pension Contributions 0.6 (0.3)- VEBA Cash Flows -- Net Reimbursement for Benefits Paid - -- Tax Refunds and Tax Payments from Affiliates (0.9) 1.1- Other (0.2) (0.5)

Operating-Related Cash Flows $(1.5) $(2.6)

* 2008 excludes Jaguar Land Rover and 2007 includes Jaguar Land Rover

Amount*(Bils.)

First Quarter 2008O / (U)

First Quarter2007(Bils.)

AUTOMOTIVE SECTOR

GAAP RECONCILIATION OF

OPERATING-RELATED CASH FLOWS

Appendix 8 of 17

FORD CREDIT – OPERATING HIGHLIGHTS

SharesUnited States Financing share – Ford, Lincoln and Mercury

Retail installment and lease 36% 37%Wholesale 79 77

Europe Financing share – Ford

Retail installment and lease 25% 25%Wholesale 96 96

Contract Volume – New and used retail/lease (in thousands)North America segmentUnited States 305 275Canada 35 31

Total North America segment 340 306International segmentEurope 185 178Other international 43 32

Total International segment 228 210Total contract volume 568 516

Borrowing Cost Rate* 6.0% 5.6%

First Quarter2007 2008

* On-balance sheet debt includes the effects of derivatives and facility fees

Appendix 9 of 17

FORD CREDIT – CHARGE-OFFS

On-Balance Sheet Receivables (Mils.)Retail installment and lease $ 100 $ 224Wholesale 4 1 Other 1 2

Total charge-offs – on-balance sheet receivables $ 105 $ 227

Total loss-to-receivables ratio 0.32% 0.65%

Managed Receivables (Mils.)Retail installment and lease $ 118 $ 239Wholesale 4 1Other 1 2

Total charge-offs – managed receivables $ 123 $ 242

Total loss-to-receivables ratio 0.34% 0.66%

First Quarter

2007 2008

Appendix 10 of 17

FORD CREDIT NET FINANCE RECEIVABLESAND OPERATING LEASES

On-Balance Sheet ReceivablesRetail installment $ 68.5 $ 71.9 $ 71.8Wholesale 36.2 34.6 37.2Other finance receivables 3.7 3.4 3.3Unearned interest supplements - - (0.7)Finance receivables, net $ 108.4 $ 109.9 $ 111.6Net investment in operating leases 26.5 29.7 29.3

Total net finance receivables and operating leases $ 134.9 $ 139.6 $ 140.9

Off-Balance Sheet Receivables – Retail $ 10.7 $ 5.7 $ 4.3

Managed ReceivablesRetail installment $ 79.2 $ 77.6 $ 76.1Wholesale 36.2 34.6 37.2Other finance receivables 3.7 3.4 3.3Unearned interest supplements - - -Finance receivables, net $ 119.1 $ 115.6 $ 116.6Net investment in operating leases 26.5 29.7 29.3

Total net finance receivables and operating leases $ 145.6 $ 145.3 $ 145.9

March 31,2007(Bils.)

December 31,2007(Bils.)

March 31,2008(Bils.)

Appendix 11 of 17

DEBT RATINGS –FORD & FORD CREDIT

Senior Long-Term Unsecured

Ford Motor

Ford Credit

FCE Bank plc

Outlook

Short-Term Unsecured

Ford Credit

Secured Funding

Ford Motor

DBRSFitchMoody’sS&P

CCC+

B

B+

Caa1

B1

B1

B-

BB-

BB-

CCC (high)

B

B

B-3 NP B R-4

B+ Ba3 BB B (high)

Stable Stable Neg Stable

Appendix 12 of 17

PROFIT MAINTENANCE AGREEMENT --PAYMENT FROM FORD TO FORD CREDIT

• Ford and Ford Credit have a Profit Maintenance Agreement that requires upon request a payment to Ford Credit when Ford Credit’s forecasted profits are below certain thresholds

• During the First Quarter, Ford paid $109 million to Ford Credit under the Profit Maintenance Agreement

• Consistent with Ford Credit’s outlook and the terms of the Profit Maintenance Agreement, it is planned that Ford Credit will repay Ford before year end

• The cash payment did not impact Ford or Ford Credit’s profits in the First Quarter of 2008 because of the repayment expected later this year. Ford Credit has recorded a liability that is eliminated in Ford’s consolidated financial statements

A copy of the Profit Maintenance Agreement can be found included in Ford Credit’s 2001 Form 10-K at:http://www.sec.gov/Archives/edgar/data/38009/000095012402001105/0000950124-02-001105-index.htm

Appendix 13 of 17

FORD CREDIT KEY METRIC DEFINITIONS

In addition to evaluating Ford Credit’s financial performance on a GAAP financial statement basis, Ford Credit management also uses other criteria, some of which were previously disclosed in this presentation and are defined below. Information about the impact of on-balance sheet securitization is also included below:

Managed Receivables -- receivables reported on Ford Credit’s balance sheet, excluding unearned interest supplements related to finance receivables, and receivables Ford Credit sold in off-balance sheet securitizations and continues to service

Serviced Receivables -- includes managed receivables and receivables Ford Credit sold in whole-loan sale transactions (i.e., receivables for which Ford Credit has no continuing exposure or risk of loss)

Charge-offs on Managed Receivables -- charge-offs associated with receivables reported on Ford Credit’s balance sheet plus charge-offs associated with receivables Ford Credit sold in off-balance sheet securitizations and continues to service

Equity -- shareholder’s interest and historical stockholder’s equity reported on Ford Credit’s balance sheet

Impact of On-Balance Sheet Securitization -- finance receivables (retail and wholesale) and net investment in operating leases reported on Ford Credit's balance sheet include assets included in securitizations that do not qualify for accounting sale treatment. These assets are available only for repayment of the debt or other obligations issued or arising in the securitization transactions; they are not available to pay the other obligations of Ford Credit or the claims of Ford Credit's other creditors. Debt reported on Ford Credit's balance sheet includes obligations issued or arising in securitizations that are payable only out of collections on the underlying securitized assets and related enhancements

Appendix 14 of 17

FORD CREDIT RATIO DEFINITIONS

In addition to evaluating Ford Credit’s financial performance on a GAAP financial statement basis, Ford Credit management also uses other criteria, some of which were previously disclosed in this presentation and are defined below:

Leverage:

Total Debt- Financial Statement Leverage =

Equity

Total Debt

SecuritizedOff-Balance

SheetReceivables

Cash, CashEquivalents &MarketableSecurities*

Adjustments forHedge Accountingon Total Debt**

Equity MinorityInterest

Adjustments for Hedge Accounting on Equity**

- Managed Leverage + - - -=

+ -

RetainedInterest inSecuritizedOff-Balance

SheetReceivables

Charge-offs=

Average ReceivablesLoss-to-Receivables Ratio

* Excludes marketable securities related to insurance activities** Primarily related to market valuation adjustments from derivatives due to movements in interest rates

Appendix 15 of 17

Total Debt* $133.9 $140.0

Securitized Off-Balance Sheet Receivables Outstanding 10.7 4.3

Retained Interest in Securitized Off-Balance Sheet Receivables (0.9) (0.5)

Adjustments for Cash, Cash Equivalents and Marketable Securities** (15.6) (15.9)

Adjustments for Hedge Accounting*** (0.1) (0.3)

Total Adjusted Debt $128.0 $127.6

Total Equity (incl. minority interest) $ 11.9 $ 13.7

Adjustments for Hedge Accounting*** (0.4) (0.2)

Total Adjusted Equity $ 11.5 $ 13.5

Financial Statement Leverage (to 1) 11.2 10.2

Managed Leverage (to 1) 11.1 9.4

* Includes $57.7 billion and $74.7 billion on March 31, 2007 and March 31, 2008, respectively, of long-term and short-termasset-backed debt obligations issued in securitizations that are payable only out of collections on the underlying securitized assetsand related enhancements

** Excludes marketable securities related to insurance activities

*** Primarily related to market valuation adjustments from derivatives due to movements in interest rates

Mar. 31,2008(Bils.)Leverage Calculation

Mar. 31,2007(Bils.)

FINANCIAL SERVICES SECTOR

FORD CREDIT RECONCILIATIONS OF MANAGED LEVERAGE TO FINANCIAL STATEMENT LEVERAGE

Appendix 16 of 17

$92

$123

$144

$159

$60

$88

$104

$139

LIQUIDITY PROFILE OF FORD CREDIT’SBALANCE SHEET

Cumulative Contractual Maturities -- As of December 31, 2007 (Bils.)

* Includes finance receivables net of unearned income, and investment in operating leases net of accumulated depreciation; cash includes cash and cash equivalents, marketable securities (excludes marketable securities related to insurance activities).

2008 2009 2010 2011 & beyond

On-balance sheet receivables and cash *

Debt

Appendix 17 of 17