Selector Lever Cable Adjustment

Place the transmission range selector lever in the first position all the way toward the rear of the vehicle.
Move the transmission range selector lever forward three detents. This should be the (D) position.
Position the vehicle on a hoist.
Disconnect the shift cable from the manual lever.

Fig 1: Disconnecting Shift Cable
Courtesy of FORD MOTOR CO.
Rotate the manual lever forward until the travel stops. Then rotate the manual lever back three detents to the (D) position.

Fig 2: View Of Manual Lever
Courtesy of FORD MOTOR CO.

NOTE: The tab will need to be pried up to unlock the shift cable.

Fig 3: Locating Unlock Tab On Shift Cable

Courtesy of FORD MOTOR CO.

Using a suitable tool, unlock tab on the shift cable. With the cable unlocked, make sure the cable slides forward and backward.
Carry out the following:
1. Make sure that the shift cable slides forward and backward.
2. Connect the shift cable to the manual control lever, making sure not to move the lever. Move the cable to match the position of the manual lever.
3. Press the shift cable adjustment lock downward to the lock position.
  
  Fig 4: Adjusting Selector Lever Cable
  Courtesy of FORD MOTOR CO.
Lower the vehicle.
Verify that the engine will start in PARK and NEUTRAL. Verify that the reverse lamps will illuminate in the REVERSE position. If not, check the adjustment of the transmission range TR sensor. For additional information on the TR sensor adjustment, refer to Transmission Range (TR) Sensor Adjustment .