3rd Quarter Results

Ford Motor Co
19 October 2004


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                  FORD ANNOUNCES THIRD QUARTER FINANCIAL RESULTS

                    
     •    Net income of 15 cents per share, or $266 million.

     •    Earnings from continuing operations of 28 cents per share, excluding
          special items.

    •     Financial Services sector pre-tax profit of $1.4 billion, up $394
          million from a year ago.

     •    Full-year earnings guidance increases to a range of $2.00 to $2.05 per 
          share from continuing operations, excluding special items.

DEARBORN, Mich., Oct. 19 - Ford Motor Company (NYSE: F) today reported net
income of 15 cents per share, or $266 million, for the third quarter of 2004.
This compares with a net loss of 1 cent per share, or $25 million, in the third
quarter of 2003.

Ford's third-quarter earnings from continuing operations, excluding special
items, were 28 cents per share, or $537 million.

Ford's total sales and revenue in the third quarter rose to $39 billion from
$36.7 billion in the year-ago period.


                                      2

'I'm very proud of what our team has accomplished,' said Bill Ford, chairman and
chief executive officer. 'We've made solid progress in the last two and a half
years and we're building momentum. We're not going to let up on our efforts to
raise our quality, lower our costs, or improve on the fundamentals of our
business, and we'll continue the biggest product roll-out in our company's
history.'

New Ford Motor Company products now on the road around the world include the
all-new Ford Mustang, Ford GT, Ford Five Hundred, Ford Freestyle, and the
redesigned F-Series Super Duty; the all-new Mercury Montego and Mercury Mariner;
the all-new Ford Escape Hybrid - the world's only hybrid SUV; the redesigned
Ford Focus in Europe and Asia; the Land Rover LR3; the Volvo S40 and V50; and
the long wheelbase Jaguar XJ. These new products are part of an unprecedented
roll-out of new vehicles that will continue in 2005.

AUTOMOTIVE SECTOR

On a pre-tax basis, excluding special items of $64 million, worldwide automotive
losses in the third quarter were $609 million, a deterioration of $61 million
from the same period a year ago. The special items included a $23 million charge
for restructuring at Jaguar, and $41 million in North America related to the
revaluation of Ford's investment in Ballard Power Systems (Nasdaq: BLDP; TSX:
BLD), a leading fuel cell manufacturer.

Worldwide automotive sales for the third quarter rose to $32.8 billion from
$30.2 billion in the same period last year. Worldwide vehicle-unit sales in the
quarter were 1,508,000, up from 1,423,000 a year ago.

Automotive cash, marketable securities, loaned securities and short-term
Voluntary Employee Beneficiary Association (VEBA) assets on September 30, 2004
were $23.4 billion, down from $26.9 billion at the end of the second quarter,
reflecting seasonal changes in operating cash flow, as well as additional
funding of retiree health care liabilities.

                                      3

THE AMERICAS

For the third quarter, the Americas reported a pre-tax loss of $422 million,
excluding special items, down $288 million from the $134 million loss in the
same period a year ago.

North America: In the third quarter, Ford's North America automotive operations
reported a loss of $481 million, excluding special items, down $373 million from
a year ago. The decrease primarily reflected unfavorable currency exchange rates
and lower production volumes. Sales were $18.1 billion, up from $17.9 billion in
the same period a year ago.

South America: Ford's South America operations reported a third-quarter pre-tax
profit of $59 million, an $85 million improvement from the 2003 third quarter.
The improvement primarily reflected higher volume and pricing, partially offset
by higher material costs. Sales improved to $784 million from $489 million in
the same period a year ago.

FORD EUROPE AND PREMIER AUTOMOTIVE GROUP (PAG)

The 2004 third-quarter combined pre-tax loss for Ford Europe and PAG was $204
million, excluding special items, compared with a loss of $424 million for the
year-ago period, a year-over-year improvement of $220 million.

Ford Europe: Ford Europe's third quarter pre-tax loss was $33 million, compared
with a pre-tax loss of $400 million, excluding special items, during the 2003
period. The improvement of $367 million primarily reflected higher sales volume
and improved cost performance. Ford Europe's sales in the third quarter
increased to $5.9 billion, compared with $4.6 billion during the third quarter
of 2003.

Premier Automotive Group: PAG reported a pre-tax loss of $171 million for the
third quarter, excluding special items, compared with a pre-tax loss of $24
million for the third quarter of 2003. The decline in results primarily
reflected vehicle launch costs, particularly at Land Rover, and unfavorable
currency exchange rates. Third-quarter sales for PAG were $6.1 billion, compared
with $5.6 billion a year ago.

                                      4

FORD ASIA-PACIFIC/AFRICA AND MAZDA

The 2004 third-quarter combined pre-tax profit for Ford Asia-Pacific/Africa and
Mazda was $48 million, compared with $8 million for the year-ago period, a year-
over-year improvement of $40 million.

Ford Asia-Pacific/Africa: For the third quarter of 2004, Ford Asia-
Pacific/Africa reported a pre-tax profit of $35 million, an improvement of $32
million from the same period a year ago. The improvement primarily reflected
favorable currency exchange rates. Sales rose to $1.9 billion, compared with
$1.6 billion during the third quarter of 2003.

Mazda: During the third quarter of 2004, Ford's share of the pre-tax profit of
Mazda and associated operations was $13 million, compared with $5 million a year
ago.

FORD MOTOR CREDIT COMPANY

Ford Motor Credit Company reported net income of $734 million in the third
quarter of 2004, up $230 million from $504 million a year earlier. On a pre-tax
basis from continuing operations, Ford Motor Credit earned $1.2 billion in the
third quarter, compared with $808 million in the previous year. The increase in
earnings primarily reflected improved credit loss performance and leasing
results.

HERTZ

Hertz reported a pre-tax profit of $249 million in the third quarter compared
with a $186 million profit during the same period a year ago. The improvement
primarily reflected higher rental car volume in the leisure and commercial
segments, and higher profit from the disposal of used vehicles and equipment.
The improvements were partially offset by lower pricing in car rental markets,
due to the highly competitive environment, as well as higher costs.

                                      5

OUTLOOK

'Overall, we had a good third quarter,' said Don Leclair, group vice president
and chief financial officer. 'We are on track to deliver this year's milestone
of $1 billion in automotive pre-tax profits, excluding special items. Our
results show continued strong performance in Financial Services and continuing
improvement in North American revenue, even though the market remains difficult.
New products in the fourth quarter should improve our U.S. market share, and
we're making good progress in Europe. In addition, South America, Asia-
Pacific/Africa, and Mazda were all profitable.'

As a result, Ford increased its 2004 full-year earnings guidance to a range of
$2.00 to $2.05 per share from continuing operations, excluding special items.
The increase from prior guidance of $1.90 to $2.00 per share primarily reflects
the strong performance of the company's Financial Services sector. Special
items, which are presently estimated to reduce full-year earnings by 13 cents
per share, are expected to consist primarily of the restructuring and
revaluation of the company's investment in Ballard, and restructuring actions at
Jaguar and Ford Europe.

Investors and news media can hear Don Leclair review Ford's third-quarter
financial results via conference call at 800-599-9795 (617-786-2905 for
international dial-in) with a verbal passcode of 'Ford Earnings Call' or on the
Internet at http://www.shareholder.ford.com. Supporting presentation material
will be available the same internet address. The presentation will begin at 9:00
a.m. ET, October 19.

Representatives of the investment community and news media participating by
teleconference will have an opportunity to ask questions following Leclair's
presentation.

Replays of the call will be available through October 26, by dialing 888-286-
8010 with passcode 29481628. The international access number for the replay is
617-801-6888 with the same passcode as above. Replays also are available at
http://www.shareholder.ford.com.

                                      6

Treasurer Malcolm Macdonald, Controller Jim Gouin, and Ford Motor Credit Company
CFO and Vice Chairman Dave Cosper will host a conference call for fixed income
analysts at 11 a.m. ET on Tuesday, October 19. The dial-in number for the call
is 800-599-9795. (International dial-in is 617-786-2905.) The passcode for both
numbers is a verbal response of 'Ford Fixed Income.'

Ford Motor Company, a global automotive industry leader based in Dearborn,
Michigan, manufactures and distributes automobiles in 200 markets across six
continents. With more than 326,000 employees worldwide, the company's core and
affiliated automotive brands include Aston Martin, Ford, Jaguar, Land Rover,
Lincoln, Mazda, Mercury and Volvo. Its automotive-related services include Ford
Motor Credit Company and Hertz.

SAFE HARBOR

Statements included herein may constitute 'forward looking statements' within
the meaning of the Private Securities Litigation Reform Act of 1995. These
statements involve a number of risks, uncertainties, and other factors that
could cause actual results to differ materially from those stated, including,
without limitation:

    •  greater price competition resulting from currency fluctuations,
       industry overcapacity or other factors;

    •  a significant decline in industry sales, particularly in the U.S. or
       Europe, resulting from slowing economic growth, geo-political events or
       other factors;

    •  lower-than-anticipated market acceptance of new or existing products;
       economic distress of suppliers that may require us to provide financial
       support or take other measures to ensure supplies of materials;

    •  work stoppages at Ford or supplier facilities or other interruptions of
       supplies;

    •  the discovery of defects in vehicles resulting in delays in new model
       launches, recall campaigns or increased warranty costs;

    •  increased safety, emissions, fuel economy or other regulation resulting
       in higher costs and/or sales restrictions;

    •  unusual or significant litigation or governmental investigations
       arising out of alleged defects in our products or otherwise;

    •  worse-than-assumed economic and demographic experience for our post-
       retirement benefit plans (e.g., investment returns, interest rates,
       health care cost trends, benefit improvements);

    •  currency or commodity price fluctuations;

    •  changes in interest rates;

    •  a market shift from truck sales in the U.S.;

    •  economic difficulties in any significant market;

    •  reduced availability of or higher prices for fuel;

    •  labor or other constraints on our ability to restructure our business;

    •  a change in our requirements under long-term supply arrangements under
       which we are obligated to purchase minimum quantities or pay minimum
       amounts;

    •  credit rating downgrades;

    •  inability to access debt or securitization markets around the world at
       competitive rates or in sufficient amounts;

    •  higher-than-expected credit losses;

    •  lower-than-anticipated residual values for leased vehicles;

    •  increased price competition in the rental car industry and/or a general
       decline in business or leisure travel due to terrorist attacks, acts of
       war, epidemic diseases or measures taken by governments in response
       thereto that negatively affect the travel industry; and

    •  our inability to implement the Revitalization Plan.
                                   
                                    -###-

                                      7

                     Ford Motor Company and Subsidiaries
                          SECTOR STATEMENT OF INCOME
              For the Periods Ended September 30, 2004 and 2003
                   (in millions, except per share amounts)

                                Third Quarter           Nine Months
                             2004          2003      2004         2003
                                 (unaudited)            (unaudited)
    AUTOMOTIVE
    Sales                  $32,798       $30,243   $108,262     $98,453
    Costs and expenses
    Cost of sales           30,957        28,381     98,637      91,059
    Selling,
     administrative
     and other expenses      2,557         2,514      8,132       7,261
      Total costs
       and expenses         33,514        30,895    106,769      98,320

    Operating
     income/(loss)            (716)         (652)     1,493         133

    Interest expense           397           362      1,094         878

    Interest income
     and other
     non-operating
     income/(expense),
     net                       383           455        508         781
    Equity in net
     income/(loss) of
     affiliated companies       57           (45)       197          48

    Income/(loss) before
     income taxes
     - Automotive             (673)         (604)     1,104          84

    FINANCIAL SERVICES
    Revenues                 6,198         6,499     18,128      19,595

    Costs and expenses
    Interest expense         1,470         1,552      4,342       4,794
    Depreciation             1,570         2,072      4,962       6,880
    Operating and
     other expenses          1,394         1,315      3,865       3,696
    Provision for credit
     and insurance losses      339           529        892       1,801
      Total costs
       and expenses          4,773         5,468     14,061      17,171

    Income/(loss) before
     income taxes -
     Financial Services      1,425         1,031      4,067       2,424

    TOTAL COMPANY
    Income/(loss)
     before income taxes       752           427      5,171       2,508
    Provision for/
     (benefit from)
     income taxes              210           140      1,317         679
    Income/(loss) before
     minority interests        542           287      3,854       1,829
    Minority interests in
     net income/(loss)
     of subsidiaries            62            45        219         245
    Income/(loss) from
     continuing operations     480           242      3,635       1,584
    Income/(loss) from
     discontinued/held-
     for-sale operations      (214)           (3)      (252)        (32)
    Cumulative effect of
     change in accounting
     principle                  --          (264)        --        (264)
    Net income/(loss)         $266          $(25)    $3,383     $ 1,288


    Average number of
     shares of Common
     and Class B
     Stock outstanding       1,829         1,831      1,831       1,832

    AMOUNTS PER SHARE OF
    COMMON AND CLASS B STOCK
    Basic income/(loss)
      Income/(loss) from
       continuing operations $0.26         $0.13      $1.99       $0.87
      Income/(loss) from
       discontinued/held-
       for-sale operations   (0.11)          --       (0.14)      (0.02)

      Cumulative effect of
       change in accounting
       principle                --         (0.14)        --       (0.15)
      Net income/(loss)      $0.15       $ (0.01)     $1.85       $0.70
    Diluted income/(loss)
      Income/(loss) from
       continuing operations $0.25         $0.13      $1.78       $0.82
      Income/(loss) from
       discontinued/held-
       for-sale operations   (0.10)           --      (0.12)      (0.01)
      Cumulative effect of
       change in
       accounting principle     --         (0.14)        --       (0.13)
      Net income/(loss)      $0.15       $ (0.01)     $1.66       $0.68

    Cash dividends           $0.10         $0.10      $0.30       $0.30

                                      8

                     Ford Motor Company and Subsidiaries
                       CONSOLIDATED STATEMENT OF INCOME
              For the Periods Ended September 30, 2004 and 2003
                   (in millions, except per share amounts)

                                Third Quarter           Nine Months
                             2004          2003      2004         2003
                                (unaudited)             (unaudited)

    Sales and revenues
    Automotive sales       $32,798       $30,243   $108,262     $98,453
    Financial Services
     revenues                6,198         6,499     18,128      19,595
      Total sales
       and revenues         38,996        36,742    126,390     118,048

    Costs and expenses
    Cost of sales           30,957        28,381     98,637      91,059
    Selling,
     administrative and
     other expenses          5,521         5,901     16,959      17,837
    Interest expense         1,867         1,914      5,436       5,672
    Provision for credit
     and insurance losses      339           529        892       1,801
      Total costs
       and expenses         38,684        36,725    121,924     116,369
    Automotive interest
     income and other
     non-operating
     income/(expense), net     383           455        508         781
    Automotive equity in
     net income/(loss) of
     affiliated companies       57           (45)       197          48
    Income/(loss)
     before income taxes       752           427      5,171       2,508
    Provision for/
     (benefit from)
     income taxes              210           140      1,317         679
    Income/(loss) before
     minority interests        542           287      3,854       1,829
    Minority interests
     in net income/(loss)
     of subsidiaries            62            45        219         245
    Income/(loss) from
     continuing operations     480           242      3,635       1,584
    Income/(loss) from
     discontinued/held-
     for-sale operations      (214)           (3)      (252)        (32)
    Cumulative effect of
     change in accounting
     principle                  --          (264)        --        (264)
    Net income/(loss)         $266          $(25)    $3,383     $ 1,288

    Average number of
     shares of Common
     and Class B
     Stock outstanding       1,829         1,831      1,831       1,832

    AMOUNTS PER SHARE OF
    COMMON AND CLASS B STOCK
    Basic income/(loss)
      Income/(loss) from
       continuing operations $0.26         $0.13      $1.99       $0.87
      Income/(loss) from
       discontinued/held-
       for-sale operations   (0.11)           --      (0.14)      (0.02)
      Cumulative effect of
       change in
       accounting principle     --         (0.14)        --       (0.15)
      Net income/(loss)      $0.15       $ (0.01)     $1.85       $0.70
    Diluted income/(loss)
      Income/(loss) from
       continuing operations $0.25         $0.13      $1.78       $0.82
      Income/(loss) from
       discontinued/held-
       for-sale operations   (0.10)           --      (0.12)      (0.01)
      Cumulative effect of
       change in
       accounting principle     --         (0.14)        --       (0.13)
      Net income/(loss)      $0.15       $ (0.01)     $1.66       $0.68

    Cash dividends           $0.10         $0.10      $0.30       $0.30

                                      9

                     Ford Motor Company and Subsidiaries
                             SECTOR BALANCE SHEET
                                (in millions)

                                         September 30,        December 31,
                                             2004                2003
    ASSETS                                (unaudited)
    Automotive

    Cash and cash equivalents                $6,713             $5,423
    Marketable securities                    10,320             10,749
    Loaned securities                         2,332              5,667
      Total cash, marketable
       and loaned securities                 19,365             21,839
    Receivables, net                          3,340              2,698
    Inventories                              10,981              9,151
    Deferred income taxes                     3,802              3,225
    Other current assets                      8,146              6,829
      Total current assets                   45,634             43,742
    Equity in net assets
     of affiliated companies                  1,856              1,930
    Net property                             41,287             41,919
    Deferred income taxes                    11,190             12,090
    Goodwill and other intangible assets      6,064              6,053
    Assets of discontinued
     /held-for-sale operations                  114                410
    Other assets                             15,639             14,497
      Total Automotive assets               121,784            120,641

    Financial Services
    Cash and cash equivalents                10,703             16,343
    Investments in securities                 1,262              1,123
    Finance receivables, net                112,011            110,893
    Net investment in operating leases       31,785             31,859
    Retained interest in sold receivables     9,473             13,017
    Goodwill and other intangible assets        950              1,008
    Assets of discontinued
     /held-for-sale operations                   --                388
    Other assets                             12,478             17,292
    Receivable from Automotive                2,246              3,356
      Total Financial Services assets       180,908            195,279
      Total assets                         $302,692           $315,920

    LIABILITIES AND STOCKHOLDERS' EQUITY

    Automotive
    Trade payables                         $ 16,751           $ 15,279
    Other payables                            3,349              2,940
    Accrued liabilities                      34,568             32,144
    Debt payable within one year              1,004              1,806
    Current payable to
     Financial Services                         216                124
      Total current liabilities              55,888             52,293

    Senior debt                              12,562             13,832
    Subordinated debt                         5,155              5,155
      Total long-term debt                   17,717             18,987
    Other liabilities                        41,405             45,085
    Deferred income taxes                     3,045              2,352
    Liabilities of discontinued/
     held-for-sale operations                    69                152
    Payable to Financial Services             2,030              3,232
    Total Automotive liabilities            120,154            122,101

    Financial Services
    Payables                                  2,299              2,189
    Debt                                    145,986            159,011
    Deferred income taxes                    11,062             11,061
    Other liabilities and
     deferred income                          8,309              9,211
    Liabilities of discontinued/
     held-for-sale operations                    --                 37
      Total Financial Services liabilities  167,656            181,509

    Minority interests                          813                659

    Stockholders' equity
    Capital stock
     Common Stock, par value
     $0.01 per share (1,837 million
     shares issued)                              18                 18
     Class B Stock, par value $0.01
      per share (71 million shares issued)        1                  1
    Capital in excess of
     par value of stock                       5,357              5,374
    Accumulated other
     comprehensive income/(loss)               (794)              (414)
    Treasury stock                           (1,768)            (1,749)
    Earnings retained for use in business    11,255              8,421
      Total stockholders' equity             14,069             11,651
      Total liabilities and
       stockholders' equity                $302,692           $315,920


                                      10

                     Ford Motor Company and Subsidiaries
                          CONSOLIDATED BALANCE SHEET
                                (in millions)

                                         September 30,        December 31,
                                             2004                2003
                                          (unaudited)
    ASSETS
    Cash and cash equivalents              $ 17,416           $ 21,766
    Marketable securities                    11,582             11,872
    Loaned securities                         2,332              5,667
    Receivables, net                          3,340              2,698
    Finance receivables, net                112,011            110,893
    Net investment in operating leases       31,785             31,859
    Retained interest in sold receivables     9,473             13,017
    Inventories                              10,981              9,151
    Equity in net assets of
     affiliated companies                     2,812              2,959
    Net property                             42,904             43,524
    Deferred income taxes                     3,182              7,389
    Goodwill and other intangible assets      7,014              7,061
    Assets of discontinued/
     held-for-sale operations                   114                798
    Other assets                             33,732             35,940
      Total assets                         $288,678           $304,594

    LIABILITIES AND
    STOCKHOLDERS' EQUITY
    Payables                               $ 22,399           $ 20,408
    Accrued liabilities                      31,849             29,564
    Debt                                    164,707            179,804
    Other liabilities
     and deferred income                     49,714             53,880
    Deferred income taxes                     5,058              8,439
    Liabilities of discontinued/
     held-for-sale operations                    69         !      189
    Total liabilities                       273,796            292,284

    Minority interests                          813                659

    Stockholders' equity
    Capital stock
     Common Stock, par value $0.01
      per share (1,837 million
      shares issued)                             18                 18
     Class B Stock, par value
      $0.01 per share (71 million
      shares issued)                              1                  1
    Capital in excess of
     par value of stock                       5,357              5,374
    Accumulated other
     comprehensive income/(loss)               (794)              (414)
    Treasury stock                           (1,768)            (1,749)
    Earnings retained for
     use in business                         11,255              8,421
      Total stockholders' equity             14,069             11,651
      Total liabilities and
       stockholders' equity                $288,678           $304,594

                                      11

                     Ford Motor Company and Subsidiaries
                   CONDENSED SECTOR STATEMENT OF CASH FLOWS
              For the Periods Ended September 30, 2004 and 2003
                                (in millions)

                                Nine Months 2004        Nine Months 2003

                                          Financial               Financial
                              Automotive  Services    Automotive  Services
                                   (unaudited)            (unaudited)

    Cash and cash equivalents
     at January 1               $5,423    $16,343       $5,159     $7,064

    Cash flows from operating
     activities before
     securities trading          1,371     12,622        4,855     13,254
    Net sales/(purchases)
     of trading securities       3,911         59        1,516       (166)
      Net cash flows from
       operating activities      5,282     12,681        6,371     13,088

    Cash flows from
     investing activities
    Capital expenditures        (4,603)      (299)      (5,558)      (271)
      Acquisitions of
       receivables and
       lease investments            --    (47,338)          --    (42,239)
      Collections of
       receivables and
       lease investments            --     37,035           --     33,921
      Net acquisitions of
       daily rental vehicles        --     (2,739)          --     (1,487)
      Purchases of securities   (6,811)      (786)      (7,356)      (490)
      Sales and maturities
       of securities             6,635        650        4,136        589
      Proceeds from sales
       of receivables
       and lease investments        --      9,265           --     15,781
      Proceeds from sale
       of businesses               125        412           77      1,625
      Repayment of debt from
       discontinued operations      --         --           --         --
      Net investing activity
       with Financial Services   3,277         --        2,975         --
      Cash paid for
       acquisitions                (30)        --           --         --
      Cash recognized on
       consolidation of
       joint ventures               --         --          256         --
      Other                         10        100          696         20
        Net cash (used in)/
        provided by investing
        activities              (1,397)    (3,700)      (4,774)     7,449

    Cash flows from
     financing activities
    Cash dividends                (549)        --         (549)        --
      Net sales/(purchases)
       of Common Stock            (127)        --          (43)        --
     Changes in short-term debt   (279)     8,979         (173)     3,405
     Proceeds from issuance
      of other debt                406     12,138          883     16,338
     Principal payments
      on other debt             (2,112)   (32,378)        (689)   (23,173)
     Net financing activity
      with Automotive               --     (3,277)          --     (2,975)
     Other                         (17)         6           (6)         9
    Net cash (used in)/
     provided by financing
     activities                 (2,678)   (14,532)        (577)    (6,396)

    Effect of exchange
     rate changes on cash           (9)         3          188        286
    Net transactions with
     Automotive/Financial
     Services                       92        (92)         425       (425)

      Net increase/(decrease)
       in cash and cash
       equivalents               1,290     (5,640)       1,633     14,002

    Cash and cash equivalents
     at September 30            $6,713    $10,703       $6,792    $21,066


                                      12

                     Ford Motor Company and Subsidiaries
                CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
              For the Periods Ended September 30, 2004 and 2003
                                (in millions)

                                                         Nine Months
                                                      2004        2003
                                                         (unaudited)

    Cash and cash equivalents at January 1          $ 21,766     $12,223

    Cash flows from operating
     activities before securities trading             13,993      18,109
    Net sales/(purchases) of trading securities        3,970       1,350
        Net cash flows from operating activities      17,963      19,459

    Cash flows from investing activities
      Capital expenditures                            (4,902)     (5,829)
      Acquisitions of receivables
       and lease investments                         (47,338)    (42,239)
      Collections of receivables
       and lease investments                          37,035      33,921
      Net acquisitions of daily rental vehicles       (2,739)     (1,487)
      Purchases of securities                         (7,597)     (7,846)
      Sales and maturities of securities               7,285       4,725
      Proceeds from sales of receivables
       and lease investments                           9,265      15,781
      Proceeds from sale of businesses                   537       1,702
      Repayment of debt from discontinued operations      --          --
      Cash paid for acquisitions                         (30)         --
      Cash recognized on consolidation of joint ventures  --         256
      Other                                              110         716
        Net cash (used in)/provided
         by investing activities                      (8,374)       (300)

    Cash flows from financing activities
      Cash dividends                                    (549)       (549)
      Net sales/(purchases) of Common Stock             (127)        (43)
      Changes in short-term debt                       8,700       3,232
      Proceeds from issuance of other debt            12,544      17,221
      Principal payments on other debt               (34,490)    (23,862)
      Other                                              (11)          3
       Net cash (used in)/provided
        by financing activities                      (13,933)     (3,998)

    Effect of exchange rate changes on cash               (6)        474

      Net increase/(decrease)
       in cash and cash equivalents                   (4,350)     15,635

    Cash and cash equivalents at September 30       $ 17,416    $ 27,858


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