Your next question will come from the line of Himanshu Patel -representing JP Morgan. Please proceed.

Himanshu Patel - JP Morgan

Hi, could you comment on the earnings outlook for Latin America going forward?

Lewis Booth

We are going through a very strong period at the moment. We do expect that to come off. We are seeing some industry beginning to downturn. We are also seeing currency moving against the dollar reported earnings in Latin America. So we are expecting to see them come off what has been an extraordinary strong performance.

Himanshu Patel - JP Morgan

Okay and then on that same line of thinking on Europe, the profits were down this quarter but it didn’t look like your volumes came off that much in Q3. Fourth quarter obviously looks like industry volumes are slowing significantly. I mean is it reasonable to assume Ford Europe would still remain profitable next year, given the level of registration declines we are seeing in Europe?

Lewis Booth

Based on our present assumptions for next year, it is reasonable to assume that Ford Europe will remain profitable next year. We are seeing, actually the Western Europe volumes come off a little. The biggest deterioration has been in some of the developing and Eastern Europe markets, particularly Russia and Turkey, for example.

Himanshu Patel - JP Morgan

And Lewis, can you talk about in Europe what is the financing situation for consumers?

Lewis Booth

I mean it’s tight, I don’t think we have got a specific issue in Europe compared to here. I mean it’s very tight worldwide.

Himanshu Patel - JP Morgan

Has there been any marked deterioration there in the last couple of months?

Neil Schloss

Are you talking specifically like on consumers financing vehicles?

Himanshu Patel - JP Morgan

Yeah.

Neil Schloss