At Ford Motor Company, we are moving forward with confidence  and purpose as we strengthen the foundation of our business  today to meet the challenges of tomorrow. Our 2004 Annual  Report to Shareholders tells of the exciting products, growing  markets and innovative technologies – backed by a talented global  workforce – that are helping us plot a course toward the future. Ford Motor Company, a global automotive industry leader based  in Dearborn, Mich., manufactures and distributes automobiles in 200 markets across six continents. With about 325,000 employees worldwide, our core and affiliated automotive brands  include Aston Martin, Ford, Jaguar, Land Rover, Lincoln, Mazda,  Mercury and Volvo. Our automotive-related services include Ford  Motor Credit Company, Genuine Parts & Service and Hertz.  A B O U T T H I S C O M P A N Y A B O U T T H I S R E P O R T C O N T E N T S 1  Operating Highlights 2 Foreword: Introduction 4 Forward: Message from the Chairman 8  Forecast: Our growing presence in world markets 10 Forty: Products are key to our strength 12  Forefront: Staying competitive using flexible manufacturing 14  Foresight: Technology helps our products and the environment 16  Foremost: We are proud of our global family 18  William Clay Ford named Director Emeritus 19  Board of Directors and Executives 21  Financial Results 96  Shareholder Information 97  A Global Overview of our company Ford Motor Company • Ford Motor Company / 2004 Annual Report F O R W A R D