"By 2020, nearly 90 per cent of the Ford portfolio in North America will be trucks, utilities and commercial vehicles", the statement says.
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.
In North America, Ford's largest and most important region, pretax profit was $1.9 billion, down $200 million from a year earlier. In the same quarter two years ago, for instance, Ford reported a $2.45 billion profit.
Specifically, Ford is getting rid of the following models: the Fiesta, Focus, Fusion, C-Max, and Taurus.
Ancelotti offered job of Italian team coach
It is unclear whether he will take the job, but he does have a two-year offer on the table. "Carlo was in Rome for personal reasons", he told Sky Sports .
In 2017, the company's pretax profit fell to $8.4 billion from $10.3 billion.
The American automaker says the only passenger model it plans to keep is the popular Mustang. Ford's best-selling sedan is the Fusion but that too will not see an all-new model although it is yet to be known when sales will stop. Initially, those cars were built by hand and later were produced on the world's first moving assembly line, an advance that allowed the company to mass produce their vehicles, according to History.com. The move not only reflects a change in consumer taste, it could make the automaker more profitable, since margins are higher on SUVs than sedans.
By "white space", the company is referring to vehicles that don't fall neatly into the typical categories. But since then, Ford has been slow to roll out the new sorts of SUVs that have caught favor with American consumers, and it let costs creep higher.
- Anzac Day National Dawn Service
- Top Banking panel Democrat calls on Mulvaney to resign after lobbyist remarks
- Mnuchin to Travel to China for Trade Talks Next Week
- Comcast gazumps Murdoch/Disney with £22 billion bid for Sky
- You can now buy the Amazon Echo Spot in India
- LeBron James produces two career-defining plays in five seconds
- Patton Oswalt credits late wife Michelle in Golden State Killer case
- Manhunt over after 2 Dallas officers and Home Depot employee shot
- Armenia: calls for new rally after talks on replacing prime minister halted
- British interior minister faces calls to resign over 'Windrush' scandal