SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report October 15, 1997
----------------
(Date of earliest event reported)
FORD MOTOR COMPANY
------------------
(Exact name of registrant as specified in its charter)
Delaware
--------
(State or other jurisdiction of incorporation)
1-3950 38-0549190
------ ----------
(Commission File Number) (IRS Employer Identification No.)
The American Road, Dearborn, Michigan 48121
-------------------------------------- -----
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 313-322-3000
------------
<PAGE>
-2-
Item 5. Other Events.
- ---------------------
News release dated October 15, 1997, filed as Exhibit 20 to this Current
Report on Form 8-K, is incorporated by reference herein.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
- ---------------------------------------------------------------------------
EXHIBITS
--------
Designation Description Method of Filing
- ----------- ----------- ----------------
Exhibit 20 News release dated October 15, 1997 Filed with this Report
Exhibit 27.1 Financial Data Schedule -
Automotive Segment Filed with this Report
Exhibit 27.2 Financial Data Schedule -
Financial Services Segment Filed with this Report
Exhibit 27.3 Financial Data Schedule -
Conglomerate Total Filed with this Report
SIGNATURE
---------
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized on the date indicated.
FORD MOTOR COMPANY
(Registrant)
Date: October 15, 1997 By:/s/Peter Sherry, Jr.
--------------------
Peter Sherry, Jr.
Assistant Secretary
<PAGE>
-3-
EXHIBIT INDEX
-------------
DESIGNATION DESCRIPTION PAGE
- ----------- ----------- ----
Exhibit 20 News release dated October 15, 1997
Exhibit 27.1 Financial Data Schedule - Automotive Segment
Exhibit 27.2 Financial Data Schedule - Financial Services Segment
Exhibit 27.3 Financial Data Schedule - Conglomerate Total
<PAGE>
Exhibit 20
Contact: Media Inquiries Institutional Investors Stockholder Inquiries
Christian Vinyard Mike Holland (800) 555-5259 or
(313) 322-3428 (313) 323-8221 (313) 845-8540
FOR RELEASE AT 7:30 A.M. (EASTERN)
FORD EARNS RECORD $1.125 BILLION IN THIRD QUARTER; 64% RISE
DRIVEN BY PROGRESS ON QUALITY, COST, SPEED
DEARBORN, Mich., October 15, 1997 -- Ford Motor Company [NYSE: F] earned a
record $1.125 billion in the third quarter, up 64 percent from the $686 million
earned in the third quarter of 1996. The third-quarter results bring earnings
for the first nine months of 1997 to $5.1 billion and surpass all previous
third-quarter and nine-month records.
Fully diluted earnings per share of common and Class B stock were 90 cents,
compared with 56 cents a share for the third quarter of 1996.
"Each of the past six quarters has shown solid improvement," said Chairman and
Chief Executive Officer Alex Trotman. "But anyone who thinks that we're letting
up is very mistaken. We're managing the entire business differently under Ford
2000, and it is paying off for our customers and shareholders."
Ford 2000 is the re-engineering of core processes across Ford's worldwide
automotive operations. This focus on the fundamentals is continuing to
contribute to gains in quality, lower total costs, and speed new product
offerings to market.
<PAGE>
-2-
AUTOMOTIVE OPERATIONS EARN $634 MILLION
Worldwide automotive operations earned $634 million in the third quarter, up
from $15 million in the third quarter a year ago. Worldwide automotive revenues
rose seven percent.
Lower total costs (at constant volume and mix), strong car and truck sales in
the United States, higher margins, a smaller loss in Europe and a return to
profitability in South America contributed to the increase. Automotive cash flow
was strong with net cash at a record $11.1 billion at the end of the quarter.
"Cost reductions so far this year have been substantial," Trotman said, "so
automotive margins should continue to improve, even though we're holding the
line on prices. Our balanced strategy is delivering better value to our
customers and shareholders."
In the U.S., automotive operations earned $485 million, compared with a record
$634 million earned in the third quarter of 1996. The decline of $149 million
reflects primarily the non-recurrence of an unusually low tax rate in the U.S.
last year. Continued strong results in the U.S. stem from improved quality and
a strong overall product line-up. Ford's third-quarter retail sales in the U.S.
set a record.
Outside the U.S., Ford's automotive operations earned $149 million, compared
with a loss of $619 million in the third quarter of 1996.
In Europe, Ford lost $147 million, compared with a loss of $472 million a year
ago. The smaller loss reflects cost savings and higher volumes that were offset
partially by higher marketing costs.
<PAGE>
-3-
"The European market is very tough for everyone," Trotman said. "But we're
making solid progress, and we're on track to meet our objective of breaking
even, or better, for the full year."
In South America, Ford earned $133 million, compared with a loss of $226 million
a year ago. For the first nine months of 1997, Ford's automotive operations in
South America have earned $111 million.
In Brazil and Argentina, Ford is benefiting from lower costs and a strong
automotive industry as well as the successful introduction of new products.
Industry volumes in Brazil and Argentina rose 12 percent and 20 percent,
respectively, in the third quarter, while Ford's unit sales were up 80 percent
in these markets during the same period.
"We're pleased with the turnaround in South America," Trotman said. "The new
team has brought in a profit faster than most of us predicted."
On Oct. 2, Ford announced its intention to build a new vehicle assembly plant in
Brazil expected to be in production by 2001.
FINANCIAL SERVICES EARN $491 MILLION
Ford's financial services businesses earned $491 million in the third quarter,
compared with a record $671 million a year ago. Earnings last year included $117
million from USL Capital which has since been sold.
Ford Credit earned $258 million, compared with $341 million in the third quarter
of 1996. The decline stems primarily from higher depreciation expenses on leased
vehicles and increased credit losses.
<PAGE>
-4-
The Associates [NYSE: AFS] earned an all-time quarterly record of $271 million,
compared with $230 million a year ago. Ford's share was $219 million in the
third quarter of 1997.
The Hertz Corporation [NYSE: HRZ] earned an all-time quarterly record of $93
million, compared with $74 million a year ago. Ford's share was $75 million in
the third quarter of 1997.
LOOKING AHEAD
"Despite tough competition," Trotman noted, "we're gaining momentum and are on
track to meet the aggressive objectives we've set."
In Ford's major markets, the economic environment continues to be largely
favorable. Ford expects total industry sales of about 15.4 million new cars and
trucks in the U.S. this year and about 14.8 million in Europe, with similar
volumes expected next year.
On Oct. 8, Ford announced plans to distribute its 80.7 percent interest in
Associates First Capital Corporation to Ford common and Class B shareholders.
"The planned spin-off reflects our continuing focus on improving and growing our
automotive-related businesses and our desire to enhance shareholder value,"
Trotman said.
# # #
<PAGE>
SUMMARY OF THIRD QUARTER 1997 COMPARED WITH 1996
Overview
- --------
* Earnings were a record $1.125 billion, compared with $686 million in the
third quarter of 1996.
* Fully diluted earnings per share were 90 cents, compared with 56 cents per
share.
* Worldwide sales and revenues were $36.1 billion, compared with $34 billion.
* Stockholders' equity was $29.7 billion, compared with $26.2 billion a year
ago.
Automotive
- ----------
* Net income from worldwide automotive operations was $634 million, compared
with $15 million.
* Net income from U.S. automotive operations was $485 million, compared with
$634 million.
* Automotive operations outside the U.S. earned $149 million, compared with a
loss of $619 million a year ago. In Europe, Ford lost $147 million, compared
with a loss of $472 million a year ago. In South America, Ford earned $133
million, compared with a loss of $226 million a year ago.
* Worldwide return on sales was 2.3 percent, up 2.2 points from a year ago.
* Worldwide vehicle unit sales were a record 1,596,000, compared with 1,452,000.
* Combined car and truck share in the U.S. was 24.6 percent, compared with 24.5
percent.
* Combined car and truck share in Europe was 11.4 percent, compared with 12
percent.
* Combined car and truck share in Brazil was 15.8 percent, compared with 11.1
percent.
Financial Services
- ------------------
* Financial services earned $491 million, compared with $671 million a year ago.
* Ford Credit earned $258 million, compared with $341 million.
* The Associates earned an all-time quarterly record of $271 million, compared
with $230 million.
* Hertz earned an all-time quarterly record of $93 million, compared with $74
million.
Automotive Balance Sheet
- ------------------------
* Cash and marketable securities were a record $19.3 billion, compared with $13
billion a year ago.
* Debt was $8.2 billion, compared with $7.3 billion.
* Net cash was a record $11.1 billion, compared with $5.7 billion.
* Capital spending was $2.3 billion, compared with $2.2 billion.
<PAGE>
<TABLE>
<CAPTION>
Ford Motor Company and Subsidiaries
Highlights
----------
Third Quarter Nine Months
---------------------- ----------------------
1997 1996 1997 1996
--------- -------- -------- -------
(unaudited) (unaudited)
<S> <C> <C> <C> <C>
Worldwide vehicle unit sales of
cars and truck (in thousands)
- - United States 940 884 3,029 2,891
- - Outside United States 656 568 2,123 2,009
-------- -------- -------- --------
Total 1,596 1,452 5,152 4,900
======== ======== ======== ========
Sales and revenues (in millions)
- - Automotive $ 28,196 $ 26,459 $ 89,926 $ 86,518
- - Financial Services 7,900 7,501 22,637 21,640
-------- -------- -------- --------
Total $ 36,096 $ 33,960 $112,563 $108,158
======== ======== ======== ========
Net income (in millions)
- - Automotive $ 634 $ 15 $ 3,373 $ 1,265
- - Financial Services 491 671 1,751 1,977
-------- -------- -------- --------
Total $ 1,125 $ 686 $ 5,124 $ 3,242
======== ======== ======== ========
Capital expenditures (in millions)
- - Automotive $ 2,268 $ 2,228 $ 5,753 $ 5,796
- - Financial Services 147 149 413 349
-------- -------- -------- --------
Total $ 2,415 $ 2,377 $ 6,166 $ 6,145
======== ======== ======== ========
Automotive capital expenditures as a
percentage of sales 8.0% 8.4% 6.4% 6.7%
Stockholders' equity at September 30
- - Total (in millions) $ 29,677 $ 26,152 $ 29,677 $ 26,152
- - After-tax return on Common and
Class B stockholders' equity 15.4% 10.5% 24.6% 17.4%
Automotive net cash at September 30
(in millions)
- Cash and marketable securities $ 19,320 $ 12,960 $ 19,320 $ 12,960
- Debt 8,207 7,296 8,207 7,296
-------- -------- -------- --------
Automotive net cash $ 11,113 $ 5,664 $ 11,113 $ 5,664
======== ======== ======== ========
After-tax return on sales
- - U.S. Automotive 2.6% 3.7% 4.3% 2.5%
- - Total Automotive 2.3% 0.1% 3.8% 1.5%
Shares of Common and Class B Stock
(in millions)
- - Average number outstanding 1,198 1,183 1,193 1,177
- - Number outstanding at Sept. 30 1,200 1,185 1,200 1,185
Common Stock price (per share)
- High 46-1/8 34-1/4 46-1/8 37-1/4
- Low 38-3/16 30 30 27-1/4
AMOUNTS PER SHARE OF COMMON AND
CLASS B STOCK AFTER PREFERRED
STOCK DIVIDENDS
Income assuming full dilution
- - Automotive $ 0.51 $ 0.00 $ 2.72 $ 1.02
- - Financial Services $ 0.39 $ 0.56 $ 1.43 $ 1.64
-------- -------- -------- --------
Total $ 0.90 $ 0.56 $ 4.15 $ 2.66
======== ======== ======== ========
Cash dividends $ 0.420 $ 0.385 $ 1.225 $ 1.085
</TABLE>
FS-1
<PAGE>
<TABLE>
<CAPTION>
Ford Motor Company and Subsidiaries
VEHICLE UNIT SALES
------------------
For the Periods Ended September 30, 1997 and 1996
(in thousands)
Third Quarter Nine Months
------------------------- -------------------------
1997 1996 1997 1996
-------- -------- -------- --------
(unaudited) (unaudited)
<S> <C> <C> <C> <C>
North America
United States
Cars 399 387 1,205 1,228
Trucks 541 497 1,824 1,663
----- ----- ----- -----
Total United States 940 884 3,029 2,891
Canada 73 52 228 174
Mexico 20 13 57 39
----- ----- ----- -----
Total North America 1,033 949 3,314 3,104
Europe
Britain 106 100 342 376
Germany 100 84 323 330
Italy 43 30 178 129
France 36 42 112 147
Spain 28 27 112 114
Other countries 45 67 227 236
----- ----- ----- -----
Total Europe 358 350 1,294 1,332
Other international
Brazil 65 44* 165* 114*
Argentina 45 17* 108* 71*
Australia 35 40 101 107
Taiwan 20 20 62 72
Japan 9 13 30 41
Other countries 31 19 78 59
----- ----- ----- -----
Total other international 205 153 544 464
----- ----- ----- -----
Total worldwide vehicle unit sales 1,596 1,452 5,152 4,900
===== ===== ===== =====
</TABLE>
Vehicle unit sales generally are reported worldwide on a "where sold" basis and
include sales of all Ford-badged units, as well as units manufactured by Ford
and sold to other manufacturers
*Adjusted to reflect change in reporting practice
FS-2
<PAGE>
<TABLE>
<CAPTION>
Ford Motor Company and Subsidiaries
CONSOLIDATED STATEMENT OF INCOME
--------------------------------
For the Periods Ended September 30, 1997 and 1996
(in millions)
Third Quarter Nine Months
-------------------------- --------------------------
1997 1996 1997 1996
---------- ----------- ----------- ----------
(unaudited) (unaudited)
<S> <C> <C> <C> <C>
AUTOMOTIVE
Sales $28,196 $26,459 $89,926 $86,518
Costs and expenses (Note 2)
Costs of sales 25,681 24,926 80,023 79,941
Selling, administrative and other expenses 1,669 1,514 4,909 4,619
------- ------- ------- -------
Total costs and expenses 27,350 26,440 84,932 84,560
Operating income 846 19 4,994 1,958
Interest income 253 188 802 589
Interest expense 192 155 592 537
------- ------- ------- -------
Net interest income 61 33 210 52
Equity in net income/(loss) of affiliated companies 0 (68) (65) (43)
Net expense from transactions with
Financial Services (15) (25) (68) (62)
------- ------- ------- -------
Income/(loss) before income taxes - Automotive 892 (41) 5,071 1,905
FINANCIAL SERVICES
Revenues 7,900 7,501 22,637 21,640
Costs and expenses
Interest expense 2,430 2,458 7,208 7,318
Depreciation 2,011 1,768 5,550 5,134
Operating and other expenses 1,727 1,559 4,801 4,522
Provision for credit and insurance losses 835 708 2,474 1,894
Budget Rent a Car write-down and sale of
USL Capital - (235) - 437
------- ------- ------- -------
Total costs and expenses 7,003 6,258 20,033 19,305
Net revenue from transactions with Automotive 15 25 68 62
Gain on sale of Common Stock
of a subsidiary (Note 3) - - 269 650
------- ------- ------- -------
Income before income taxes - Financial Services 912 1,268 2,941 3,047
------- ------- ------- -------
TOTAL COMPANY
Income before income taxes 1,804 1,227 8,012 4,952
Provision for income taxes 595 474 2,675 1,581
------- ------- ------- -------
Income before minority interests 1,209 753 5,337 3,371
Minority interests in net income of subsidiaries 84 67 213 129
------- ------- ------- -------
Net income $ 1,125 $ 686 $ 5,124 $ 3,242
======= ======= ======= =======
Income attributable to Common and Class B Stock
after preferred stock dividends $ 1,112 $ 670 $ 5,083 $ 3,191
Average number of shares of Common and Class B
Stock outstanding 1,198 1,183 1,193 1,177
AMOUNTS PER SHARE OF COMMON AND CLASS B STOCK
Income $ 0.93 $ 0.57 $ 4.26 $ 2.71
Income assuming full dilution $ 0.90 $ 0.56 $ 4.15 $ 2.66
Cash dividends $ 0.420 $ 0.385 $ 1.225 $ 1.085
The accompanying notes are part of the financial statements.
</TABLE>
FS-3
<PAGE>
<TABLE>
<CAPTION>
Ford Motor Company and Subsidiaries
CONSOLIDATED BALANCE SHEET
--------------------------
(in millions)
September 30, December 31,
1997 1996
---------------- --------------
(unaudited)
<S> <C> <C>
ASSETS
Automotive
Cash and cash equivalents $ 5,027 $ 3,578
Marketable securities 14,293 11,836
-------- --------
Total cash and marketable securities 19,320 15,414
Receivables 3,220 3,133
Inventories (Note 5) 6,320 6,656
Deferred income taxes 3,262 3,296
Other current assets 4,085 3,193
Net current receivable from Financial Services 443 0
-------- --------
Total current assets 36,650 31,692
Equity in net assets of affiliated companies 2,056 2,483
Net property 34,282 33,527
Deferred income taxes 4,154 4,429
Other assets 8,298 7,527
-------- --------
Total Automotive assets 85,440 79,658
Financial Services
Cash and cash equivalents 2,117 3,689
Investments in securities 2,155 2,307
Net receivables and lease investments 169,914 161,906
Other assets 14,597 14,834
Net receivable from Automotive 0 473
-------- --------
Total Financial Services assets 188,783 183,209
-------- --------
Total assets $274,223 $262,867
======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Automotive
Trade payables $ 11,942 $ 11,735
Other payables 2,395 2,206
Accrued liabilities 18,352 16,587
Income taxes payable 1,718 508
Debt payable within one year 1,587 1,661
Net current payable to Financial Services 0 473
-------- --------
Total current liabilities 35,994 33,170
Long-term debt 6,620 6,495
Other liabilities 28,126 26,793
Deferred income taxes 1,175 1,225
-------- --------
Total Automotive liabilities 71,915 67,683
Financial Services
Payables 4,130 4,695
Debt 155,407 150,205
Deferred income taxes 4,006 4,338
Other liabilities and deferred income 7,966 8,504
Net payable to Automotive 443 0
-------- --------
Total Financial Services liabilities 171,952 167,742
Company-obligated mandatorily redeemable preferred securities of a subsidiary
trust holding solely junior subordinated debentures of the Company (Note 6) 679 680
Stockholders' equity
Capital stock
Preferred Stock, par value $1.00 per share (aggregate liquidation preference
of $642 million and $694 million) * *
Common Stock, par value $1.00 per share (1,131 and 1,118 million shares issued) 1,131 1,118
Class B Stock, par value $1.00 per share (71 million shares issued) 71 71
Capital in excess of par value of stock 5,484 5,268
Foreign currency translation adjustments and other (963) (29)
Earnings retained for use in business 23,954 20,334
-------- --------
Total stockholders' equity 29,677 26,762
-------- --------
Total liabilities and stockholders' equity $274,223 $262,867
======== ========
- - - - -
*Less than $1 million
The accompanying notes are part of the financial statements.
</TABLE>
FS-4
<PAGE>
<TABLE>
<CAPTION>
Ford Motor Company and Subsidiaries
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
----------------------------------------------
For the Periods Ended September 30, 1997 and 1996
(in millions)
Nine Months 1997 Nine Months 1996
---------------------------- ---------------------------
Financial Financial
Automotive Services Automotive Services
------------- ------------ ------------- -----------
(unaudited) (unaudited)
<S> <C> <C> <C> <C>
Cash and cash equivalents at January 1 $ 3,578 $ 3,689 $ 5,750 $ 2,690
Cash flows from operating activities before securities trading 11,835 9,449 8,462 10,839
Net (purchases)/sales of trading securities (2,075) 136 (2,844) (1,230)
------- -------- ------- --------
Net cash flows from operating activities 9,760 9,585 5,618 9,609
Cash flows from investing activities
Capital expenditures (5,753) (413) (5,796) (349)
Purchase of leased assets (332) - (130) -
Acquisitions of receivables and lease investments - (86,947) - (82,293)
Collections of receivables and lease investments - 67,246 - 62,469
Net acquisitions of daily rental vehicles - (1,231) - (1,995)
Net proceeds from USL Capital asset sales - - - 1,157
Purchases of securities 0 (2,329) (6) (8,362)
Sales and maturities of securities 0 2,835 7 10,266
Proceeds from sales of receivables and lease investments - 1,578 - 1,011
Net investing activity with Financial Services (23) - (254) -
Other 72 (150) (523) (204)
------- -------- ------- --------
Net cash used in investing activities (6,036) (19,411) (6,702) (18,300)
Cash flows from financing activities
Cash dividends (1,503) (25) (1,328) -
Issuance of Common Stock 229 - 124 -
Issuance of Common Stock of a subsidiary (Note 3) - 453 - 1,897
Changes in short-term debt (568) 1,376 395 1,465
Proceeds from issuance of other debt 1,225 17,823 300 18,650
Principal payments on other debt (655) (12,250) (671) (10,407)
Net financing activity with Automotive - 23 - 254
Other (8) (5) (43) (266)
------- -------- ------- --------
Net cash (used in)/provided by financing activities (1,280) 7,395 (1,223) 11,593
Effect of exchange rate changes on cash (79) (57) (73) (206)
Net transactions with Automotive/Financial Services (916) 916 91 (91)
------- -------- ------- --------
Net (decrease)/increase in cash and cash equivalents 1,449 (1,572) (2,289) 2,605
------- -------- ------- --------
Cash and cash equivalents at September 30 $ 5,027 $ 2,117 $ 3,461 $ 5,295
======= ======== ======= ========
</TABLE>
The accompanying notes are part of the financial statements.
FS-5
<PAGE>
Ford Motor Company and Subsidiaries
NOTES TO FINANCIAL STATEMENTS
-----------------------------
(unaudited)
1. Financial Statements - The financial data presented herein are
unaudited, but in the opinion of management reflect those adjustments
necessary for a fair presentation of such information. Results for interim
periods should not be considered indicative of results for a full year.
Reference should be made to the financial statements contained in the
registrant's Annual Report on Form 10-K (the "10-K Report") for the year
ended December 31, 1996. For purposes hereof, "Ford" or the "Company" means
Ford Motor Company and its majority owned subsidiaries unless the context
requires otherwise. Certain amounts for prior periods have been
reclassified to conform with 1997 presentations.
2. Selected Automotive costs and expenses are summarized as follows (in
millions):
<TABLE>
<CAPTION>
Third Quarter Nine Months
--------------------- ---------------------
1997 1996 1997 1996
--------- -------- --------- --------
<S> <C> <C> <C> <C>
Depreciation $701 $687 $2,051 $1,966
Amortization 824 828 2,330 2,278
</TABLE>
3. Sale of Common Stock of a Subsidiary - During April 1997, The Hertz
Corporation ("Hertz") completed an initial public offering ("IPO") of its
common stock representing a 19.1% economic interest in Hertz. The Company
recognized in second quarter earnings a non-operating gain of $269 million
resulting from the IPO; the gain was not subject to income taxes. During
May 1996, The Associates completed an IPO of its common stock representing
a 19.3% economic interest in The Associates; this resulted in a
non-operating gain of $650 million.
4. Significant Items - The Company recorded a pre-tax charge in second
quarter totaling $272 million ($169 million after taxes) reflecting actions
that will be completed during 1997 and 1998. These include primarily the
discontinuation of passenger car production at the Lorain Assembly Plant
resulting in a write-down of surplus assets. The charge also included
employee termination costs related to the elimination of a shift at the
Halewood (England) Plant, and a loss on the sale of the Heavy Truck
business.
5. Automotive inventories are summarized as follows (in millions):
<TABLE>
<CAPTION>
September 30, December 31,
1997 1996
------------- ------------
<S> <C> <C>
Raw materials, work in process and supplies $3,340 $3,374
Finished products 2,980 3,282
------ ------
Total inventories $6,320 $6,656
====== ======
U.S. inventories $2,336 $2,280
</TABLE>
6. Company-Obligated Mandatorily Redeemable Preferred Securities of a
Subsidiary Trust - The sole asset of Ford Motor Company Capital Trust I
(the "Trust"), which is the obligor on the Preferred Securities of such
Trust, is $632 million principal amount of 9% Junior Subordinated
Debentures due 2025 of Ford Motor Company.
FS-6
<PAGE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
Automotive Segment - This schedule contains summary financial information
extracted from Ford's Current Report on Form 8-K dated October 15, 1997 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000037996
<NAME> FORD MOTOR COMPANY
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> SEP-30-1997
<CASH> 5,027
<SECURITIES> 14,293
<RECEIVABLES> 3,220
<ALLOWANCES> 115
<INVENTORY> 6,320
<CURRENT-ASSETS> 36,650
<PP&E> 75,501
<DEPRECIATION> 41,219
<TOTAL-ASSETS> 85,440
<CURRENT-LIABILITIES> 35,994
<BONDS> 6,620
<COMMON> 0
0
0
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 0
<SALES> 28,196
<TOTAL-REVENUES> 28,196
<CGS> 25,681
<TOTAL-COSTS> 27,350
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 192
<INCOME-PRETAX> 892
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 0
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
<PAGE>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
Financial Services Segment - This schedule contains summary financial
information extracted from Ford's Current Report on Form 8-K dated October 15,
1997 and is qualified in its entirety by reference to such financial statements.
The error message indicated on this FDS is a result of the EDGAR system's
inability to accept multiple Article 5 Financial Data Schedules. Accordingly,
the error message should be ignored.
</LEGEND>
<CIK> 0000037996
<NAME> FORD MOTOR COMPANY
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> SEP-30-1997
<CASH> 2,117
<SECURITIES> 2,155
<RECEIVABLES> 169,914
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 188,783
<CURRENT-LIABILITIES> 0
<BONDS> 155,407
<COMMON> 0
0
0
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 0
<SALES> 7,900
<TOTAL-REVENUES> 7,900
<CGS> 0
<TOTAL-COSTS> 7,003
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 835
<INTEREST-EXPENSE> 2,430
<INCOME-PRETAX> 912
<INCOME-TAX> 0
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 0
<EPS-PRIMARY> 0
<EPS-DILUTED> 0
<PAGE>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> CT
<LEGEND>
Conglomerate Totals - This schedule contains summary financial information
extracted from Ford's Current Report on Form 8-K dated October 15, 1997 and
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000037996
<NAME> FORD MOTOR COMPANY
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> SEP-30-1997
<TOTAL-ASSETS> 274,223
<COMMON> 1,202
0
0
<OTHER-SE> 28,475
<TOTAL-LIABILITY-AND-EQUITY> 274,223
<TOTAL-REVENUES> 36,096
<INCOME-TAX> 595
<INCOME-CONTINUING> 1,125
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 1,125
<EPS-PRIMARY> 0.93
<EPS-DILUTED> 0.90
</TABLE>
