This Week:

• DaimlerChrysler presents F 400 Carving research vehicle with dynamic chassis technology at the Tokyo Motor Show 2001
  .

• Chevrolet Introduces The "Cruze" Compact Lifestyle Vehicle at the Tokyo Motor Show 2001, Jointly Developed By GM, Suzuki
  .

• Porsche invests approx. 250 million marks in Leipzig
  .

• Toyota and Daihatsu Announce Plans for Tokyo Motor Show
  .

• Andrej Barcak To Take Over European Remarketing And Used Vehicles
  .

• Seita Kanai and the new Mazda 6
  .

• Ford Reports Third Quarter Loss
  .

• Audi still enjoying record-breaking success
  .

• GM, Ford And DaimlerChrysler Go After Parts Counterfeiters
  .

• Valeo announces a plan to close its Baumenheim plant in Germany
  .

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News of  October 24, 2001
.

Ford Reports Third Quarter Loss

DEARBORN, Mich. - Ford Motor Company reported a net loss of $692 million, or 38 cents per diluted share, in the third quarter of 2001. Excluding special items, Ford lost $502 million, or 28 cents per share. Ford earned $994 million, or 50 cents a share, before special items in the third quarter of 2000.

Ford's third quarter revenues were $36.55 billion, a 9 percent decline from last year's third quarter. Worldwide vehicle unit sales in the 2001 third quarter were 1,513,000, down 10 percent.

"This was a difficult quarter, as our results were affected by an uncertain and slowing U.S. economy, compounded by the tragic events of Sept. 11," said Jacques Nasser, president and CEO. "To address these challenging times we have taken several steps this year to strengthen our competitiveness. We expect to announce further actions in December. "

Despite the near-term challenges, Ford continues to benefit from the strongest lineup of brands and products in its history. This will be the 15th year in a row that Ford Division is the best-selling brand of cars and trucks in the U.S. These include the F-Series full-size pickup truck, Explorer and Escape SUVs, and Taurus, Focus and Mustang cars. Earlier this month, the Escape set a calendar-year sales record for small SUVs.

In the third quarter, Ford launched the Ford Thunderbird and Jaguar X-Type in the U.S., and introduced the Ford Fiesta in Europe. Other new products due in the U.S. this year include the Land Rover Freelander, Lincoln Blackwood, Focus ZX5 and Th!nk Neighbor.

Third quarter 2001 operating results exclude a previously disclosed non-cash charge of $199 million, or 11 cents per share, for the write-down of certain investments in e-commerce and automotive-related ventures. They also exclude a non-cash credit of $9 million, or about 1 cent a share, for the accounting standard on hedging and derivatives. Third quarter 2000 operating earnings exclude a one-time charge of $106 million, or 5 cents per share, related to the Land Rover acquisition.

(Oct. 17, 2001)

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