Ford Motor's fourth-quarter net loss is more profound that what was being expected. The $5.9 billion net loss of the automaker went up from its same quarter year-earlier loss of $2.8 billion.

Excluding one-time items, Ford's losses were $3.3 billion, or $1.37 per share, while analysts had estimated a loss of $1.30 per share.

However, despite the full-year loss of $14.6 billion, Ford said repeated its earlier statement that it had adequate liquidity to finance its restructuring under its present projections without the need of any federal bailout. The company intends drawing on its accessible $10.1 billion of credit on February 3, because of the volatility in capital markets.

Alan Mullay, CEO Ford, said: "Given the instability of the capital markets with the uncertain state of the global economy, we believe it is prudent to draw these credit facilities at this time."

Even though Ford burnt nearly $5.5 billion of cash in its recession-hit automotive business, the company's access to credit and readily available cash has placed it much better financially, compared to Chrysler and General Motors, who sought federal aid to continue operations.

Ford does not anticipate the need to seek aid from government, except in the case of "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."