FORM 10-Q
   
             SECURITIES AND EXCHANGE COMMISSION
                   Washington, D.C. 20549
   
   
   (Mark One)
   [X]    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
   THE SECURITIES EXCHANGE ACT OF 1934 
   
        For the nine months ended September 30, 1997
   
                          OR
   
   [ ]    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
   THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] for
   the transition period from
   
                          to
   
   Commission file number 0-17303
   
   
                VECTOR AEROMOTIVE CORPORATION
   
     (Exact name of registrant as specified in its charter)
   
   
       NEVADA                              33-0254334
   (State or other jurisdiction of      (I.R.S. Employer
   incorporation or organization)    Identification Number)
   
   
                      975 MARTIN AVENUE
              GREEN COVE SPRINGS, FLORIDA 32043
   
   (Address of principal executive offices, including Zip
   Code)
   
   Registrant's telephone number, including area code 
   
   (904) 529-0092
   
   Indicate by check mark whether the registrant (1) has filed
   all reports required to be filed by Section 13 or 15(d) of
   the Securities Exchange Act of 1934 during the preceding 12
   months (or for such shorter period that the registrant was
   required to file such reports), and (2) has been subject to
   such filing requirements for the past 90 days.
   
   Yes          No   X   
   
          APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
   
            PROCEEDINGS DURING THE PRECEDING FIVE YEARS: 
   
   Indicate by check mark whether the registrant has filed all
   documents and reports required to be filed by Sections 12,
   13 or 15(d) of the Securities Exchange Act of 1934
   subsequent to the distribution of securities under a plan
   confirmed by a court.
   
   Yes          No
   
        APPLICABLE ONLY TO CORPORATE ISSUERS:
   
   Indicate the number of shares outstanding of each of the
   issuer's classes of common stock, as of the latest
   practicable date.       
   
        Common Stock, $.01 par value per share; 
     53,609,387 shares outstanding as of June 30, 1997
               
   
   
   
   
   
   
   
   
   
   
   
   
                 Vector Aeromotive Corporation
                    
                    Condensed Balance Sheets
                           (Unaudited)
   
   
                                 September 30,  September 30,
                                          1997           1996
   -----------------------------------------------------------
   Assets
   Current Assets
     Cash and cash equivalents   $         (14)    $       783 
     
     Inventories                       486,274      1,409,917
     Prepaid Expenses                        -          3,620
     Accounts and other receivables          -         14,745
   -----------------------------------------------------------
       Total current assets            486,260      1,429,066
   
   Property & Equipment                111,928        768,688
   
   Other Assets                          1,850         85,744
   -----------------------------------------------------------
   Total assets                     $  600,038     $ 2,283,498 
   ===========================================================
   
   Liabilities and Stockholders' Equity
   
   Current Liabilities
     Accounts payable             $   700,796     $ 1,210,519
     Accrued expenses                 213,199         257,446
     Other payables                   286,935               -
     Loans payable to related parties       -         487,024
     Customer deposits                 25,000          25,000
   ---------------------------------------------------------- 
   Total current liabilities        1,225,930       2,189,988
   ----------------------------------------------------------
   Long term liabilities
     Loans payable to 
     related parties                1,317,489              -
     Notes payable                    250,000              -
   Total long term liabilities      1,567,489              -
   ----------------------------------------------------------
   Total liabilities                2,793,419       2,189,988
   ----------------------------------------------------------
   Stockholders' equity
     Common stock, 
     par value $.01 per          $  536,395       $   536,395
     share, 600,000,000 shares 
     authorized; issued and 
     outstanding: 53,609,387
     in 1997 and 53,609,387 
     in 1996 
     Capital in excess 
     of par value               36,786,109         36,786,109
     Accumulated deficit       (39,515,886)       (37,228,994)
   ----------------------------------------------------------
   Total stockholders' equity   (2,193,381)            93,510
   ----------------------------------------------------------
   Total liabilities and 
     stockholders' equity      $   600,038         $ 2,283,498 
   ========================================================== 
   
   See accompanying notes to unaudited condensed financial
   statements.
   
   
   
   
                             Vector Aeromotive Corporation
                        Condensed Statements of Operations
                                            (Unaudited)
   
                    Three Months Ended       Nine Months Ended
                          September 30,          September 30,
                      1997        1996        1997        1996
   -----------------------------------------------------------
   Sales         $ 118,500  $  (9,483)   $ 118,500   $ 610,878
   Cost of sales    84,160          -       84,160     625,638
   -----------------------------------------------------------
   Gross profit
    (loss)          34,340     (9,483)      34,340    (14,760)
   -----------------------------------------------------------
   Costs and expenses
     Manufacturing
     overhead           -     164,995            -    605,132
   General and
     administra-
     tive          257,232    271,252      680,747  1,792,985
   Research and 
    development          -    449,593            -  1,184,245
   -----------------------------------------------------------
   Total costs 
    and expenses   257,232    691,256      680,747  3,582,363
   -----------------------------------------------------------
   Operating 
    profit (loss) (222,892)  (700,739)    (646,407)(3,597,123)
   Other income 
    (expense)
    Interest and
    other income   500,000     25,929      500,000   111,572
   Interest 
    expense        (12,398)         -      (31,102)        -
   ----------------------------------------------------------
   Net profit 
     (loss)        264,710   (674,809)    (177,509)(3,485,550)
   =========================================================== 
   Net profit (loss) 
     Per share       $0.00     ($0.01)      ($0.00)    ($0.07)
   ===========================================================
   Weighted average 
    common shares
    outstanding 53,609,387 53,609,387   53,609,387 52,559,514
   ===========================================================
   See accompanying notes to unaudited condensed financial
   statements.
   
                Vector Aeromotive Corporation
          Condensed Statement of Shareholders' Equity
                         (Unaudited)
   
                                                              
                          Capital in
              Common Stock   Excess Of     Accumulated 
            Shares   Amount  Par Value        Deficit    Total
   -----------------------------------------------------------
   Balance,
   December 31, 
   1996 
      53,639,599 $536,396 $36,786,109$(39,338,376)$(2,015,871)
   
   Net Profit 
    (loss)                               (177,510)   (177,510)
   -----------------------------------------------------------
   Balance,
   Sept 30,
   1997
      53,639,599 $536,396 $36,786,109$(39,515,886)$(2,193,381)
   ===========================================================
   See accompanying notes to unaudited condensed financial
   statements.
   
  
   
   
   
   
               Vector Aeromotive Corporation 
             Condensed Statements of Cash Flow
                       (Unaudited)
    
     
                            Nine Months          Nine Months
                                  Ended                Ended
                     September 30, 1997    September 30, 1996
   -----------------------------------------------------------
   Cash flows from operating 
   activities:
     Net profit (loss)       $ (177,510)          $(3,485,550)
   
     Adjustments to reconcile 
       net profit
       loss) to net cash 
       used in operating
       activities
       Depreciation and 
       amortization             12,070                328,865
       (Increase) decrease in
       Accounts receivable     155,000                      -
       Inventories              70,338               (608,357)
       Prepaid expenses and 
       other assets             15,628                260,941
     Increase (decrease) in
       Accounts payable         (9,415)              (288,148)
       Accrued expenses         13,185               (145,448)
       Other payables           (14,557)                     - 
   
       Customer deposits             -                 15,000
   -----------------------------------------------------------
    Net cash from operating 
     activities                  64,739             3,608,390)
   -----------------------------------------------------------
   Cash flows used in investing activities:
     Acquisition of property 
     and equipment                    -              (239,622)
   -----------------------------------------------------------
   Net cash used in investing 
     activities                       -              (239,622)
   -----------------------------------------------------------
   
   
   
   
                   Vector Aeromotive Corporation 
                 Condensed Statements of Cash Flow
                           (Unaudited)
   
                              Nine Months         Nine Months
                                    Ended               Ended
                       September 30, 1997  September 30, 1996
   -----------------------------------------------------------
   Cash flows from financing activities:
     Proceeds from issuance 
       of common stock and 
       warrants                         -           4,704,733
     Proceeds from exercise of 
       warrants                         -             134,309
     Repayment of loan payable to        
       related party             (423,407)         (1,000,000)
     Loan payable 
       American Dream Int'l       324,789                   -
   -----------------------------------------------------------
   Net cash from financing 
      activities                 ( 98,618)          3,839,042
   -----------------------------------------------------------
   Net increase (decrease) 
     in cash and 
     cash equivalents             (33,879)            (11,587)
   
   Cash and cash equivalents, 
     beginning of period          33,864               12,370
   -----------------------------------------------------------
   Cash and cash equivalents, 
     end of period                   (14)                 783
   ===========================================================
   
   See accompanying notes to unaudited condensed financial
   statements.
   
   
                Vector Aeromotive Corporation
   
                Notes to Financial Statements
   
   1.  Basis of Presentation
   
   The accompanying unaudited condensed financial statements
   have been prepared in accordance with generally accepted
   accounting principles for interim financial information and
   with the instructions to Form 10-Q and Article 10 of the
   Regulation S-X.  Accordingly, they do not include all of
   the information and footnotes required by generally
   accepted accounting principles for complete financial
   statements and should be read in conjunction with Notes to
   Financial Statements contained in the Company's Annual
   Report on Form 10-K for the year ended December 31, 1996. 
   In the opinion of management, all adjustments (consisting
   of normal recurring accruals) considered necessary for a
   fair presentation have been included. Operating results for
   the six months ended June 30, 1997 are not necessarily
   indicative of the results that may be expected for the year
   ended December 31, 1997.
      <PAGE>
2.  Inventories
   
   The components of inventory consist of the following:
   
                             September 30,       September 30,
                                      1997               1996
   -----------------------------------------------------------
   Raw Material                 $  224,388        $   644,314
   Work-in Progress                 48,666            214,136
   Finished Goods                  213,220            349,307
   -----------------------------------------------------------
   Total                        $  486,274         $1,207,757
   
   3.  Payables to Related Parties
   
   As of September 30, 1997, the Company owed a total of
   $424,123  to Automobili Lamborghini S.p.A., $568,577 to
   Automobili Lamborghini U.S.A., Inc., and $324,789 to
   American Dream International Limited.  
   
   4.  Notes Payable to Unrelated Parties
   
   As of September 30, 1997, the Company had borrowed a total
   of $250,000 uncollateralized, from an unrelated party
   accruing interest at 9%.  No principle or interest payments
   have been made.
   
   
               PART 1 - FINANCIAL INFORMATION
   
   ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
   CONDITION AND RESULTS OF OPERATION
   
   
   General
   
   Vector Aeromotive Corporation (the "Company") ceased
   operations November 1996 due to a lack of funds.  In
   January 1997, a letter of intent was exchanged among the
   Company, V'Power Corporation, Automobili Lambourghini
   U.S.A., Inc., Automobili Lambourghini S.p.A. and American
   Dream International Limited (formally Tradelink
   International Limited)("American Dream").  Based upon the
   letter of intent American Dream commenced funding a loan to
   the Company pending preparation and signing of final
   agreements.  By September 30, 1997 American Dream had
   loaned $324,789 to the Company of which $118,359 was loaned
   in the 3rd quarter of 1997. 
   
   The Company sold one new vehicle in the quarter.  In
   addition, the Company sold technology to V'Power
   Corporation in exchange for debt and cash.
   
   
   Results of Operations
   
   For the three months ended September 30, 1997, the Company
   had a net profit of $264,710 compared to a net loss of
   $674,809 for the comparable period of 1996.  For the period
   ended September 30, 1997, the Company had a net loss of
   $177,510 compared to a net loss of $3,485,550 for the
   comparable period of 1996.                                  
                              
   
   Liquidity and Capital Resources
   
   During the third quarter the Company borrowed $118,359 from
   American Dream.  In addition, the Company sold a new
   vehicle for $118,500 and sold technology for $500,000 of
   which $451,104 was debt forgiveness and $48,896 was cash. 
   The Company did not have any other sources available to it
   to raise additional capital.  The Company was negotiating
   with American Dream for the possibility of additional
   funding. The lack of liquidity and capital resources raised
   substantial doubt about the Company's ability to continue
   as a going concern.  Management believes the arrangements
   with Amwerican Dream provided the Company an opportunity to
   survive as a business.
   
   
                        SIGNATURES 
   
   Pursuant to the requirements of the Securities and Exchange
   Act of 1934, the Registrant has duly caused this report to
   be signed on its behalf by the undersigned hereunto duly
   authorized.
   
   
   
   VECTOR AEROMOTIVE CORPORATION
   
   
   By:   /s/ Timothy J. Enright
         Timothy J Enright,  President
   
   Date: March 27, 1998
   
   
   
   By:   /s/ Lily Beter
         Lily Beter, Chief Financial Officer     
   
   Date: March 27, 1998