While continuing to operate without the benefit of government loans, the Ford Motor Co. reported a fourth quarter cash burn of $5.5 billion, finishing the year with $13.4 billion in reserve while seeking to immediately tap $10.1 billion from its credit lines due to the uncertain economy.

The company's net loss for the quarter was $5.9 billion compared to a $2.8 billion loss in 2007. The company has, however, had three consecutive years without a profit. At the end of 2007, however, the pretax operating loss excluding special items was only $620 million. This year, it was $3.7 billion.

In a statement, CEO Alan Mulally said, "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."

Analysts are predicting, however, that Ford needs $10 billion on hand to operate. If the fourth quarter cash burn continues and no other steps are taken, the company cold be out of cash by the end of February. The company's CFO, Lewis Booth, said that won't happen. "We look at our burn rate every day," he said. "We are confident that our burn rate will substantially slow in 2009, including in the first quarter."