SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: February 29, 2012
(Date of earliest event reported)
FORD MOTOR CREDIT COMPANY LLC
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of organization)
(Commission File Number)
(IRS Employer Identification No.)
One American Road, Dearborn, Michigan
(Address of principal executive offices)
Registrant's telephone number, including area code 313-322-3000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
Item 8.01. Other Events.
The news release dated March 1, 2012 of Ford Motor Company ('Ford") concerning U.S. retail sales in February 2012 is filed as Exhibit 99 to this Report and incorporated by reference herein.
In an interview with various media outlets that took place on February 29, 2012, Lewis Booth, Ford's Executive Vice President and Chief Financial Officer, provided an update regarding Ford's European operations. The following summarizes information provided by Mr. Booth with regard to Ford's European operations:
It now is clear that the European automotive industry remains under pressure, with industry sales volume for the 19 markets Ford tracks coming in at or somewhat below 14 million units in the first two months of the year. Ford now expects full-year industry sales volume for 2012 for the 19 markets Ford tracks in Europe to be about 14 million units, compared with Ford's initial planning assumption of 14 million to 15 million units. Accordingly, Ford expects first quarter 2012 results for Ford Europe to be about the same as or somewhat worse than fourth quarter 2011. Ford expects Ford Europe's pre-tax results to improve from that level during the year, largely reflecting the impact of Ford's new product introductions and Ford's continuing work on its cost base, with full-year results for Ford Europe limited to a loss of about $500 million to $600 million.
Ford's guidance for 2012 remains unchanged. Ford expects Automotive pre-tax profits to improve, with total Company pre-tax profits to be about equal to full-year 2011 results.
Item 9.01. Financial Statements and Exhibits.
Method of Filing
News release dated March 1, 2012
Filed with this Report
of Ford Motor Company concerning
February 2012 U.S. retail sales
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:
Decline in industry sales volume, particularly in the United States or Europe, due to financial crisis, recession, geopolitical events, or other factors;
Decline in market share or failure to achieve growth;
Lower-than-anticipated market acceptance of new or existing products;
Market shift away from sales of larger, more profitable vehicles beyond current planning assumptions, particularly in the United States;
An increase in fuel prices, continued volatility of fuel prices, or reduced availability of fuel;
Continued or increased price competition resulting from industry excess capacity, currency fluctuations, or other factors;
Fluctuations in foreign currency exchange rates, commodity prices, and interest rates;
Adverse effects on our operations resulting from economic, geopolitical, or other events;
Economic distress of suppliers that may require Ford to provide substantial financial support or take other measures to ensure supplies of components or materials and could increase costs, affect liquidity, or cause production constraints or disruptions;
Work stoppages at Ford or supplier facilities or other limitations on production (whether as a result of labor disputes, natural or man-made disasters, tight credit markets or other financial distress, information technology issues, production constraints or difficulties, or other factors);
Single-source supply of components or materials;
Labor or other constraints on our ability to maintain competitive cost structure;
Substantial pension and postretirement health care and life insurance liabilities impairing our liquidity or financial condition;
Worse-than-assumed economic and demographic experience for our postretirement benefit plans (e.g., discount rates or investment returns);
Restriction on use of tax attributes from tax law "ownership change;"
The discovery of defects in vehicles resulting in delays in new model launches, recall campaigns, reputational damage, or increased warranty costs;
Increased safety, emissions, fuel economy, or other regulations resulting in higher costs, cash expenditures, and/or sales restrictions;
Unusual or significant litigation, governmental investigations or adverse publicity arising out of alleged defects in Ford's products, perceived environmental impacts, or otherwise;
A change in requirements where Ford has long-term supply arrangements committing it to purchase minimum or fixed quantities of certain parts, or to pay a minimum amount to the seller ("take-or-pay" contracts);
Adverse effects on results from a decrease in or cessation or clawback of government incentives related to investments;
Inherent limitations of internal controls impacting financial statements and safeguarding of assets;
Cybersecurity risks to operational systems, security systems, or infrastructure owned by us or a third-party vendor, or at a supplier facility;
Failure of financial institutions to fulfill commitments under committed credit facilities;
Inability to access debt, securitization, or derivative markets around the world at competitive rates or in sufficient amounts, due to credit rating downgrades, market volatility, market disruption, regulatory requirements, or other factors;
Higher-than-expected credit losses, lower-than-anticipated residual values or higher-than-expected return volumes for leased vehicles;
Increased competition from banks or other financial institutions seeking to increase their share of financing Ford vehicles; and
New or increased credit, consumer, or data protection or other regulations resulting in higher costs and/or additional financing restrictions.
We cannot be certain that any expectation, forecast, or assumption made in preparing forward-looking statements will prove accurate, or that any projection 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 initial issuance, and we do not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise. For additional discussion, see "Item 1A. Risk Factors" in Ford's and Ford Credit's Annual Reports on Form 10-K for the year ended December 31, 2011.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
FORD MOTOR CREDIT COMPANY LLC
Date: March 2, 2012
/s/ Corey M. MacGillivray
Corey M. MacGillivray
News release dated March 1, 2012 of Ford Motor Company
concerning February 2012 U.S. retail sales