FACTBOX: Details of Ford's plans submitted to Congress
(Reuters) - Ford Motor Co on Tuesday submitted an extensive restructuring plan demanded by Congress as a condition for supporting a $25 billion rescue package for Ford and the other two U.S.-based automakers.
Following are the details of Ford's latest business plan, in which the automaker outlines steps to return to profitability in 2011.
FINANCIAL OUTLOOK
* Ford expects both its overall and North American auto business pretax results to be break-even or profitable in 2011.
* Seeking up to $9 billion in bridge financing, but says it hopes to complete turnaround without accessing the loan should Congress agree to make the funds available.
* Does not expect a liquidity crisis in 2009, barring a bankruptcy by one of its domestic competitors or a more severe economic downturn.
* Ford's financial outlook based on assumptions that U.S. auto sales will total 12.5 million units in 2009 and 14.5 million units in 2010. Sales are expected to improve to 15.5 million units in 2011.
* Ford's plan calls for an investment of about $14 billion in the United States over the next seven years on advanced technologies and products to improve fuel efficiency.
* Ford hopes to receive $5 billion in direct loans by 2011 from the U.S. Department of Energy to support Ford's investment in advanced technologies and products. Continued...
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