P.M. BRIEFING : Australian Ford Unveils Convertible

Ford Motor Co.’s Australian subsidiary today unveiled a new convertible sports car that it hopes to begin exporting soon to the United States and other markets.

The Capri, a compact two-door four seater was launched more than six months later than expected and Ford said it could be another six months before exports begin.

Ford Motor Co. of Australia has spent almost $330 million ($248 million U.S.) developing the car. The Ford unit said it expects the new car to bring in more than $400 million ($300 million U.S.) a year in exports, mainly from the United States.

Launch of the Capri was delayed more than six months by the need to meet new U.S. requirements for air bag passive restraints and other manufacturing problems with Ford’s new model Australian large sedan, the Falcon.