DETROIT — Ford Motor Co., aiming to focus more on building cars and trucks, said yesterday it will sell its Hertz Corp. rental car business for $5.6 billion in cash.

Dearborn-based Ford, the nation's second-biggest automaker, said it will sell all shares of common stock in Hertz, its wholly owned subsidiary, to a private equity group composed of Clayton Dubilier & Rice, The Carlyle Group and Merrill Lynch Global Private Equity in a deal valued at about $15 billion, including debt.

Ford announced in April it was considering shedding Hertz, which it has owned since 1994, to concentrate on its core automotive business. The infusion of cash should help the automaker, which has been struggling with falling sport utility vehicle sales, growing U.S. healthcare costs and other issues. Ford's second-quarter profit fell 19 percent to $946 million.

"This transaction reinforces our commitment to strengthening our balance sheet and investing in our core automotive business," said Don Leclair, Ford's chief financial officer.

The deal is subject to regulatory approvals and is expected to be completed by year's end.

Representatives of the private equity group said they had no immediate plans to sell any Hertz assets or cut jobs, though they will attempt to improve Hertz's efficiency.

"The company's underlying strengths — an exceptional global brand, premium pricing supported by superior customer service and a history of industry innovation — form a strong platform on which to pursue further growth initiatives," said George W. Tamke, an operating partner at Clayton Dubilier & Rice.

Added David H. Wasserman, the partner who led negotiations for CD&R: "We have been looking at Hertz for more than three years and believe it fits squarely within our investment strategy — a complex corporate divestiture of a market-leading business with a powerful franchise and opportunities for profitable growth."

Hertz plans a cash tender offer for up to $2.3 billion of outstanding debt securities in connection with the transaction; certain other Hertz debt will be refinanced.

In addition, Ford Motor Credit Co., the automaker's finance arm, said separately it intends to file a registration statement to exchange its own debt securities for up to $2.4 billion of outstanding Hertz debt with similar terms. Such an exchange could generate cash for Ford Motor Credit.

The transaction also involves another $4.7 billion in primarily other Hertz debt, a Ford spokeswoman said.

Burnham Securities analyst David Healy called the deal "a reasonable move" for Ford, which he said can certainly use the extra cash to enhance new product development and offset rising healthcare expenses.

"Hertz has become less and less important as an outlet for Ford cars as Ford has pared back sales to Hertz and other daily rental companies," Healy said. "It's really a noncore business right now."

Still, Hertz is the world's largest general-use car rental business. It has been a solid contributor to Ford's bottom line, with revenue of $6.7 billion and net income of $365.5 million in 2004.

The company, founded in 1918, rents vehicles from 7,400 locations in more than 150 countries, according to a recent filing with the Securities and Exchange Commission. In addition, Hertz is a major supplier of rental equipment.