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Ford dropping all but 2 cars from its North American dealerships

27 April 2018

Ford Motor Company shares were trading at $11.30 per share on Thursday morning, up $0.19 (+1.71%). The company plans to release the new Focus crossover next year.

There was nothing much to ponder going by the statement, except that Ford will not invest in next generations of traditional sedans in North America.

"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.

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In 2017, the company's pretax profit fell to $8.4 billion from $10.3 billion.

"The automaker expects to save $25.5 billion by 2022, chief financial officer Bob Shanks told reporters Wednesday as Ford reported first-quarter earnings per share and revenue that beat estimates".

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.

Shanks said the Lincoln brand still is losing money in China, where it launched in 2015, but now plans to begin local production there in 2020.