DEARBORN, Michygan — The Ford Motor Company widened its loss last year to $14.6 billion, from a loss of $2.7 billion in 2007, but said it reduced its critical cash-burn rate in the fourth quarter. In the fourth quarter, Ford's worldwide revenues plunged to $29.2 billion from $45.5 billion a year earlier, reflecting the depth of the crisis. Company executives continue to maintain that Ford does not intend to ask for government loans, which have been extended to Detroit-based rivals Chrysler and General Motors.

Ford's U.S. sales dropped more than 20 percent last year, and its market share slid to 15 percent. The fourth-quarter net loss was $5.9 billion — more than double the $2.8 billion deficit in the same period of 2007.

But the nightmarish financial scenario won't stop it from such 2009 introductions as the launch of the redesigned Ford Mustang, the new Ford Taurus, the Lincoln MKT and the Volvo XC60, it said in a statement.

The company said it would immediately draw down $10.1 billion from secured credit lines to help it weather the ongoing retail sales crunch, but executives also said they expect to continue to narrow the cash-burn rate in 2009.

The Dearborn automaker also emphasized that it still does not need a bridge loan from the U.S. government 'based on current planning assumptions.' It is the only one of the domestic automakers that has not accepted loans from the federal government. But Ford left the door open to accepting federal money. It said that it does not need a bridge loan 'barring a significantly deeper economic downturn or a significant industry event, such as the bankruptcy of a major competitor that causes disruption to the company's supply base, dealers or creditors.'

Ford said it is drawing its available credit lines 'due to concerns about the instability of the capital markets with the uncertain state of the economy.' It says the $10.1 billion will be added to company cash for the first quarter of 2009. It also announced it would cut 20 percent — or 1,200 jobs — from the U.S. operations of Ford Motor Credit.

'Ford and the entire auto industry faced an extraordinary slowdown in all major global markets in the fourth quarter that clearly had an impact on our results,' said Ford President and CEO Alan Mulally in a statement. 'We continued to take the decisive actions necessary to lower production to match the lower worldwide demand and reduce costs, which we expect will allow us to significantly reduce negative operating cash flow in 2009 and position Ford for growth when the economy rebounds.'

Missing from the lengthy financial statement released by Ford was word on the possible sale of Volvo.

The Wall Street Journal on Thursday reported that Volvo may get bids from several Chinese companies, specifically Geely Holding Group, SAIC Motor Corp. and Chongqing Changan Automotive. For the fourth quarter, Volvo reported a pretax loss of $736 million, 'compared with its breakeven position a year ago,' said Ford. 'The decline primarily reflects lower industry volume, unfavorable net pricing and unfavorable exchange,' said Ford. Ford bought Volvo for $6.45 billion in 1999.

As part of its documentation on Thursday, Ford comprehensively laid out its global product strategy for 2009.

In North America, it said it will introduce upgraded gas and hybrid versions of the Ford Fusion and the redesigned Ford Mustang — including a new convertible model and new Shelby GT500. It will also debut the new Ford Taurus, the Ford Flex with EcoBoost, a new small commercial van called the Transit Connect, an upgraded Mercury Milan and new Milan Hybrid, an upgraded Lincoln MKZ, Lincoln MKS with EcoBoost, and new Lincoln MKT.

Among other global products, Europe will get the 300-horsepower Ford Focus RS, Ford's fastest volume production model and a redesigned Ford Ka. The U.S. will get the new Volvo XC60 in the spring, along with a freshened Volvo S80 later in the year. Asia gets the new Ford Fiesta, the new Ford Ranger and Everest SUV.