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FORD REAFFIRMS PRODUCT SPENDING PLANS

 FORD REAFFIRMS PRODUCT SPENDING PLANS
 PARIS, Oct. 6 /PRNewswire/ -- Ford Motor Company (NYSE: F) remains


committed to its product and technology development programs despite economic weakness on both sides of the Atlantic, a top executive said today.
 "In spite of these weak markets, particularly in Europe, Ford is maintaining its aggressive commitment to invest the resources to bring to market good cars and trucks, and to develop practical, functional technology for these new products," Allan D. Gilmour, president of the Ford Automotive Group, said during a speech to news media at the Paris Auto Show.
 During the past 10 years, Ford has invested more than $45 billion in new plants and products -- more than was invested during the entire previous history of the company, Mr. Gilmour said.
 "And we're accelerating our investment to an even higher rate through the end of this decade."
 Noting the continuing recession in Britain and the recent currency and interest rate fluctuations between countries, Mr. Gilmour said there are signs things will worsen before improving in Europe.
 "Now we're seeing slowdowns in Spain, France, Italy, and, to some extent, Germany," he said. "So, near-term prospects for the auto industry in Europe are not very good."
 During his presentation, Mr. Gilmour unveiled the name of Ford's new entry into the European mid-size market -- the Ford Mondeo. The name, which is similar to the word for "world" in several European languages, is meant to signify the global heritage of this new product, which was designed by teams led by Ford of Europe and supported by Ford's North American Automotive Operations. It will be manufactured on both continents.
 -0- 10/6/92
 /CONTACT: John W. Spelich of Ford, 313-322-9600/
 (F) CO: Ford Motor Company ST: Michigan IN: AUT SU: ECO


SM -- DE023 -- 7205 10/06/92 16:05 EDT
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Publication:PR Newswire
Date:Oct 6, 1992
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