Ford Will Stop Producing Most Sedans For North American Market

Ford to report earnings after the bell — here's what Wall Street expects

In March, Ford executives unveiled ambitious plans to shift the struggling automaker's product portfolio from passenger cars to SUVs, add more hybrid and pure electric vehicles, and reduce development and manufacturing costs - aimed at boosting profits and the automaker's share price.

Bob Shanks, Ford chief financial officer, told reporters Wednesday that he expects one-third of the cuts to be achieved by the end of 2020. The Focus nameplate will live on only thanks to an all-new crossover variant called the Focus Active coming next year. The company estimates that almost 90 percent of its portfolio will be trucks, utilities and commercial vehicles in the North American market.

The company will be keeping SUVs and trucks, but they'll be cutting actual cars down to just two models.

In a statement announcing the company's financial health, Ford confirmed that as a result of lower demand for its saloon-car range - things like the Fusion (Mondeo) - it'll only concentrate on the iconic pony auto, and a Focus crossover.

For more than a century, the giant American automaker has been associated with cars. The automaker says it made $1.74 billion, or 43 cents per share, compared with $1.59 billion, or 40 cents per share a year ago. Ford now sells the Fiesta, Focus, Fusion, C-Max, Mustang, and Taurus sedans and coupes in North America reports TechCrunch, which notes that the Lincoln sedans are also expected to vanish.

In 2017, the company's pretax profit fell to $8.4 billion from $10.3 billion. Lincoln now sells the mid-size MKZ and full-size Continental, and they share the same sedan platforms as their Ford counterparts.

"We have seen the trend go where Ford and even preowned sales are gearing towards the truck and SUV more so than the sedan". Shanks said the business lines losing money were mainly smaller vehicles.

Concerning the latter model, this week's announcement also means that some the new versions of the Focus planned by Ford - the sedan, wagon and hatchbacks - may not be available to American consumers at all.

This year, Ford moved production of its Focus from MI to make way for the new Ranger pickup and to make room for a coming Bronco SUV.

"Ford has been criticized by Wall Street analysts for offering few details on Mr. Hackett's strategy for the company".

Ford took steps on Wednesday to bolster its operations in China, a key overseas market, where sales have been flagging.

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