Ford cutting production of cars to just Mustang, Focus by 2020

2018 Ford Mustang facelift

2018 Ford Mustang facelift

Go down one more vehicle level to the Focus, and even the smaller (but heavier) EcoSport crossover costs more.

Ford announced plans on Wednesday to ax all of its North American vehicle lineup except for the Mustang and Focus, and that won't be available in its traditional form anymore; the company said it will only offer a Focus Active hatchback that debuts in 2019. By 2020, 90 percent of Ford's North American offerings will be trucks, SUVs and commericial vehicles, the company said. For the first quarter, the Dearborn automaker earned 43 cents per share, beating Wall Street analysts' average expectations by 2 cents per share.

Ford has allocated $7 billion of research funds from cars to SUVs and trucks.

Ford said its net income in the quarter was up almost 9.5%, to US$1.74bn, or US$0.43 a share, from US$1.59bn, or US$0.40 a share. In 2017, the company's pretax profit fell to $8.4 billion from $10.3 billion. Savings will come from engineering, product development, marketing, materials and manufacturing.

Say goodbye to the Ford Taurus.

And, they were quick to remind me, not everyone wants a beefy pickup or SUV with interior room comparable to a NY studio apartment.

In a further savings, Ford now plans to reduce its capital spending between 2019 and 2022 to $29 billion; it previously expected to spend $34 billion in that time.

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In a historic move, Ford announced Wednesday it would phase out production of all small cars and sedans in the "next few years", keeping only the Mustang and the upcoming Focus Active - which it characterizes as a crossover.

What's missing? Cars. "Given declining customer demand and product profitability, we will not invest in next generations of traditional Ford sedans for North America.", said Hackett. Exactly when these models will stop being sold in the market hasn't been announced.

"We have seen the trend go where Ford and even preowned sales are gearing towards the truck and SUV more so than the sedan".

Ford will use the excess capacity created in its plants by auto models that are ending to introduce new truck and SUVs.

But, surprisingly, on more than one occasion - and completely unprompted - some longtime retailers privately voiced to me their fear that Ford would exit the vehicle business. They will instead focus on building trucks and SUVs. "Obviously, this has done well for brands such as Subaru".

"We are undergoing a profound transformation", Shanks said, "and are committed to taking decisive action". The Asia Pacific region will probably lose money in the second quarter before returning to profit in the back half of the year.

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