July 17, 2003. Copyright, 2003, Graphic News. All rights reserved

Ford, finances reeling, plans GT40 supercar
By Neil Winton

LONDON, July 17, Graphic News:  While the Ford Motor Company struggles to keep its financial head above water trying to sell its bread and butter products, Chairman Bill Ford has sanctioned the construction of a supercar, the GT40.

In its latest financial results for the three months ended June 30, 2003, Ford just about broke even with an almost imperceptible $3 million in profit before taxes, on sales of $34.2 billion. But at the same time Ford is planning to produce a supercar, in the form of a 5.4 litre supercharged V8, 500 bhp, GT40 Đ a revival of the famous Le Mans victor and Ferrari basher of the 1960s.

Ford justifies the decision to build the GT40 by saying that the car will allow it to pioneer new methods of construction and engineering. The carŐs structure is based on an all-aluminium space frame, pioneered by Volkswagen of GermanyŐs Audi subsidiary, making for a stronger and lighter machine. The GT40Ős body will be made from extruded aluminium.

Ford also believes that even though the car is unlikely to contribute much to profits, the halo effect of association with such a high-tech vehicle will boost FordŐs reputation, ignite interest in its more prosaic products, and make the project worthwhile.

Volkswagen has similar plans for its Bugatti Veyron, which develops almost 1,000 bhp from its W16 engine. VW also owns the prestigious Bentley and Lamborghini brands.

With close to 500 horsepower and a weight of around 3,350lbs (1,520kg), the new GT40 should be able to match the performance of rivals like the Dodge Viper, the Porsche 911 Turbo, and the Ferrari Modena.

The car looks almost identical to the original GT40, built by Henry Ford II after Enzo Ferrari spurned his takeover advances in the early 1960s. But it is 18 inches (45.8cm) longer, almost a foot (30.5cm) wider and nearly four inches (12cm) higher. The original serial Le Mans winner boasted a gigantic 7.0 litre V8 engine.

Production of the new GT40 will begin next spring in the U.S., and a total of about 4,500 will be made. Prices are expected to start at around $160,000.
/ENDS