Ford Credit obviously is still open for business so we have been doing our piece. We have seen some banks pull back a bit but it hasn’t been like it has been in the U.S.

Himanshu Patel - JP Morgan

Okay and then lastly on Volvo, I just noticed in the appendix on the slide I forgot which slide it was where you have a headcount but it looked like Volvo’s headcount sequentially was flat between June and September and I think you were talking about taking 6,000 heads out. What is the cadence of that headcount reduction of Volvo going forward?

Peter Daniel

Within Sweden there is a very organized approach where you agree to the reductions that you are going to take and then you discuss specifically how you are going to achieve them and that happens over a six-month period, consultations between the company and the authorities and then the company and the unions. So about 2,000 of those people will be out by the end of the year and the remaining 4,000 will be out in the first quarter.

Lewis Booth

On the agency people, it will probably be a little bit faster.

Operator

Your next question comes from the line Rod Lache representing Deutsche Bank. Please proceed.

Rod Lache - Deutsche Bank Securities

Good morning everybody.

Lewis Booth

Hi Rod.

Rod Lache - Deutsche Bank Securities

The $8.0 billion to $9.0 billion of operating cash improvement you’ve got on slide 39, it looks like that’s cumulative. And it looks like you are taking your CapEx down by $1.0 billion to $2.0 billion versus where it had been running. I just want to make sure we understand that properly. Is the prospective cost reduction, the structural cost reduction that you are targeting, something like $6.0 billion to $8.0 billion cumulatively, like $3.0 billion to $4.0 billion a year?

Lewis Booth

Also included in that $8.0 billion to $9.0 billion is some improvements in working capital. So the actual structural is a little bit lower than you are implying. Specific to CapEx, it will be about $2.0 billion in the period, about $1.0 billion in each year. We have done that without significantly affecting the product program and one of the reasons that we’ve been working so hard on the structural costs is to make sure that we continue to invest heavily in our new product program so that as things begin to improve we have got a fully competitive lineup around the world of both new product and fuel-efficient product within it.

Alan Mulally

And we are really starting to see the benefit of the synergy of our global product development system, too, now, which is really helping us on that.

Rod Lache - Deutsche Bank Securities