Ford Motor Co (F.N) reported a record $14.6 billion

Ford Motor Co (F.N) reported a record $14.6 billion full-year loss on Thursday but said it would have the cash to survive the worst downturn in auto sales in decades without a U.S. government bailout.

Ford plans to cut some 2,500 white-collar jobs and draw down its remaining credit line after burning through $5.5 billion of cash as global auto sales plunged.

The automaker posted a deeper-than-expected $5.9 billion fourth quarter net loss. Ford has reported net losses totaling nearly $30 billion over the past three years.

"We took this action because of our growing concerns about the instability of the capital markets," Ford Chief Executive Alan Mulally told analysts in a conference call.

Analysts lauded Ford under Mulally with having the foresight to borrow heavily in 2006, before credit markets shut down and auto sales plunged in 2008.







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