Feb. 27 (Bloomberg) -- Ford Motor Co., the only U.S. carmaker not seeking federal government emergency loans, met today with President Barack Obama’s automotive task force to discuss “the state of the industry,” a company spokesman said.

Ford isn’t releasing the names of executives who participated, said the spokesman, Mike Moran. Chief Executive Officer Alan Mulally didn’t participate, he said.

Ford’s meeting followed sessions the task force held with executives from General Motors Corp. yesterday and Chrysler LLC on Feb. 25. Treasury Secretary Timothy Geithner, the panel’s co- leader, has the power to recall loans to GM and Chrysler if they don’t show progress toward becoming profitable by March 31.

“The government is probably concerned they’ll have to start giving money to Ford,” said auto analyst John Wolkonowicz of IHS Global Insight in Lexington, Massachusetts. “They want Ford’s assurance and back-up calculations for why that won’t happen.”

Ford has managed to forgo the federal loans doled out to GM and Chrysler because Mulally decided to borrow $23 billion in 2006, securitizing all of Ford’s assets, including its trademark blue-oval logo.

“Our situation has not changed,” Moran said in the statement. “We did not and are not seeking emergency financial assistance from the government.”

Treasury spokesman Isaac Baker declined to comment. Auto task force members are meeting with U.S. lawmakers, auto executives and industry analysts as they review the viability plans submitted Feb. 17 by GM and Chrysler, an Obama administration official has said.

Two-Hour Meeting

The Ford meeting, which involved fewer than five of the company’s senior executives, lasted about two hours, according to a person familiar with the matter. Discussion included the progress Ford is making in efforts to turn itself around, the person said. The task force requested the meeting, another person said.

Wolkonowicz said he expects the discussion also covered the interdependence of the auto industry.

“If GM and Chrysler wind up in bankruptcy, that will take suppliers down and that could take Ford down, too,” said Wolkonowicz. “If GM and Chrysler are thrown into bankruptcy, contrary to what the government might think, they will be finished.”

GM bondholders have asked for a meeting with the task force to discuss their views on how the automaker should restructure to avoid a bankruptcy, according to a person with direct knowledge of the request.

Sales Forecast

Ford will be able to continue to avoid federal aid as long as U.S. auto sales don’t fall below 9.2 million vehicles this year, the company said in an annual regulatory filing yesterday. Ford expects that U.S. car and truck sales will fall to as low as 10.5 million vehicles this year, a reduction of 1 million from its forecast in January, according to the filing.

Ford senior sales analyst George Pipas said today that U.S. auto sales fell to about 9 million vehicles in February, from last month’s 9.6 million level, which was a 27-year low.

Detroit-based GM has already received $13.4 billion in loans since December. Cerberus Capital Management’s Chrysler received an initial installment of $4 billion. GM is seeking as much as $16.6 billion more and Chrysler $5 billion.

To contact the reporters on this story: John Hughes in Washington at jhughes5@bloomberg.netKeith Naughton in Southfield, Michigan at Knaughton3@bloomberg.net

Last Updated: February 27, 2009 17:49 EST