Ford dropping all but 2 cars from its North American dealerships

The company has found another $11.5 billion in cost cuts and efficiencies, bringing the total to $25.5 billion expected by 2022, Chief Financial Officer Bob Shanks told reporters.

By 2019, Ford will also introduce a brand new Focus Active in North American countries.

"By 2020, nearly 90 per cent of the Ford portfolio in North America will be trucks, utilities and commercial vehicles", the statement says. Ford says all its trucks, SUVs and crossovers will carry on, and they will pursue further models with "higher ride height, space and versatility".

"Ford's announcement to pretty much get out of the auto business ... comes as no surprise. The competition isn't standing still and we'll see more jacked up cars, wagons, and crossovers on the market every few months for the next few years", Sullivan added. In the same quarter two years ago, for instance, Ford reported a $2.45 billion profit.

Ford's sedans such as Fusion, Fiesta and Taurus will be slowly phased out in the next years when their existing generations runs out of juice.

Pretax automotive earnings fell $443 million to $1.7 billion, mainly due to higher metals costs such as steel and aluminum.

Ford sold 209,000 Fusion sedans in 2017 - it's best-selling sedan - compared to 265,000 in 2016, and down from 306,000 in 2014.

Ford also says it will have 16 battery-electric vehicles on the market within the next four years. Europe was the only region to turn a profit for Ford. Shanks said the business lines losing money were mainly smaller vehicles.

Ford's decision makes Fiat Chrysler's move in 2016 to ax two of its sedans appear tame.

Michelle Krebs, executive analyst at AutoTrader.com, said Ford's move is no shock.

The news Ford is patching up its lineup to dispose of vehicles and spotlight on hybrid and SUVs doesn't mean Ford's not taking a gander at making new items.

Torrence plant will ramp up production of SUVs, including the new high-end Lincoln Aviator next year. Of course, there are way more people who pay attention to vehicles like the Mustang and F-150, but the OEM has a strong history in the sedan and coupe space so it's worth pouring one out for the company. To get there, the automaker is ready to take steps including forsaking certain categories and markets.

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