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 September 10, 2002
                        (Date of earliest event reported)

                               FORD MOTOR COMPANY
             (Exact name of registrant as specified in its charter)

                 (State or other jurisdiction of incorporation)

         1-3950                                        38-0549190
         -------                                       ----------
 (Commission File Number)                    (IRS Employer Identification No.)

 One American Road, Dearborn,  Michigan                   48126
 --------------------------------------                   -----
(Address of principal executive offices)                (Zip Code)

         Registrant's telephone number, including area code 313-322-3000


Item 5.  Other Events.

Ford Motor Company disagrees with the conclusions in a Goldman, Sachs & Co.
report dated September 6, 2002, entitled "Ford's Cash Position May be Less
Robust Than It Appears". The report essentially contends that our Automotive
cash is overstated by as much as $10 billion because of the way our Automotive
sector pays Ford Motor Credit Company subsidies (or subvention amounts) for low
interest rate retail and lease financing programs that we sponsor. The effect of
low-rate financing on our Automotive operating cash balances is less than half
of the amount indicated in the Goldman Sachs report and the effect on cash flow
is even smaller. In addition, it is important to understand the following

     o    Our  accounting  for  subsidies to Ford Credit for low-rate  financing
          programs has been consistent for many years and is described in Ford's
          and Ford Credit's 2001 10-K Reports.

     o    Our  Automotive  sector  recognizes  a  reduction  to revenue  for the
          subvention  amount  when  a  vehicle  is  sold  to the  dealer  or the
          marketing  programs  change  (i.e.,  the amount of  subvention  on the
          vehicle is recognized  upfront as a reduction to Automotive  revenue).
          Ford Credit recognizes interest subvention as revenue over the life of
          the contract.

     o    Our  Automotive  sector pays Ford Credit for the  interest  subvention
          over the life of the contract; the payments are front-loaded, which is
          consistent with the terms of the contracts placed. In other words, the
          subvention  payment flows are similar to how Ford Credit would receive
          payments  from the  customer if the  customer  were paying at a market
          interest rate. Again, this has been our practice for many years.

     o    Ford  Credit does not  presently  require a capital  contribution.  In
          fact, we expect to receive a dividend from Ford Credit this year.


         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

Date:  September 10, 2002                  By:/s/Kathryn S. Lamping
                                               Kathryn S. Lamping
                                               Assistant Secretary