It was the fourth and last iteration of the first generation of the Falcon, and also included the Ford Fairmont (XP), the luxury-oriented version.

The main change from the XM was the 'torque box' steel subframe which added structural rigidity to the car.

This was a key in improving the public perception of the car, as the early models were considered flimsy and were unpopular with Australian fleet buyers.

All of the utility, panel van, taxi and police vehicles had five-Stud 13-inch wheels and larger 10-inch drum brakes, as had all previous commercial models.

Both Fairmonts and Futuras (including Futura hardtops) featured bucket seats, however only the Futura models had a center console, The 200 ci Super Pursuit engine initially in four-main bearing form and finally with the imported seven-main bearing unit, three-speed automatic transmission, and a padded dash along with carpets, perforated, colour-matched headlining, blower heater, screen washers, chrome-plated interior mirror, seven interior door-operated lights, and a handbrake on warning light flasher as standard.