Ford dropping all but 2 cars from its North American dealerships

2018 Ford Mustang facelift

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.

Related news:

Hot News

isis-killer-beheading-video-story-top Apple pushes update to address third-party display issues on iPhone
Apr 26, 2018 - 06:47
Alongside the new iOS update , Apple has brought a security update to the macOS 10.13.4 that debuted on Mac devices last month. The company also encourages customers to have their fix performed by Apple-certified technicians using genuine parts.

isis-killer-beheading-video-story-top Bucks' Giannis Antetokounmpo Vows To Be Aggressive In Game 6
Apr 26, 2018 - 06:45
But Ojeleye - starting in place of Aron Baynes - knocked down a corner 3-pointer that got the Celtics' offense rolling. Ojeleye guarded Bucks forward Giannis Antetokounmpo for much of the night - "a tall task" per Stevens's standards.

isis-killer-beheading-video-story-top Napoli stun leaders Juventus with late Koulibaly header
Apr 25, 2018 - 09:36
The Bianconeri face Inter, Bologna, Roma and Verona before the end of the season, as well as AC Milan in the Coppa Italia final. Napoli supporters, in their thousands, have welcomed the team home at Naples airport after they stunned Juventus 1-0 on Sunday.

isis-killer-beheading-video-story-top Allison Mack Tried to Recruit One Very Famous Actress into Nxivm
Apr 25, 2018 - 09:35
Mack spent the weekend and Monday in jail at the Metropolitan Detention Center in Brooklyn, where the charges were brought. Information in the affidavit was provided to officials by two women referred to as Jane Doe 1 and Jane Doe 2.

isis-killer-beheading-video-story-top Paul Pogba ridicules rumours of summer move from Manchester United
Apr 25, 2018 - 09:35
United crashed out of Europe to Sevilla after a 2-1 loss at home and also were knocked out of the Carabao Cup by Bristol City. But Pogba said he understood Mourinho's decision to tinker with his line-up.

isis-killer-beheading-video-story-top Waffle House shooting hero honored by Tennessee lawmakers in emotional ceremony
Apr 25, 2018 - 09:33
Police said Reinking opened fire in the restaurant parking lot before storming the restaurant, which had about 20 people inside. Legal experts say it is unusual for bond to be set for such a serious crime without a bond hearing or other procedures.

isis-killer-beheading-video-story-top Madonna loses legal battle over old trousers
Apr 25, 2018 - 09:33
Madonna had claimed that she didn't know Lutz had possession of the Tupac letter, which was personal in nature. She had described some of the items as "highly confidential and embarrassing".

isis-killer-beheading-video-story-top Romney Faces Tough Path To GOP Nomination
Apr 24, 2018 - 02:34
A candidate needs 60 percent of the delegate vote to win the Utah Republican party's nomination outright. Romney was especially critical of Trump's negative rhetoric about immigrants.

Brokerages Anticipate Summit Midstream (SMLP) Will Announce Quarterly Sales of $103.77 Million
Apr 22, 2018 - 01:55
Eagle Glob Advsr Ltd Liability Company holds 0.97% of its portfolio in EQT Midstream Partners, LP (NYSE:EQM) for 423,692 shares. S&P Global Inc. provides independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide.

isis-killer-beheading-video-story-top Vox Cinemas to open 600 new screens in Saudi Arabia
Apr 22, 2018 - 01:52
Saudi Arabian public movie theaters began shutting down in the late 1970s after the country adopted ultraconservative Islamic law. Authorities said the public would be able to purchase tickets online on Thursday for showings starting Friday.

isis-killer-beheading-video-story-top Joel Embiid helps the 76ers take a series lead against the Heat
Apr 22, 2018 - 01:52
In the third, he hit a big 3-pointer, celebrating by swinging one arm around in the air a la Pete Townshend of the Who. Portland got within 11 during the second quarter, but the Pelicans took a 19-point advantage into the half, 64-45.

isis-killer-beheading-video-story-top FAA Orders Inspections Of More Jet Engines
Apr 22, 2018 - 01:51
After the disgusting incident that occurred on Tuesday, Southwest Airlines is assisting the surviving passengers of Flight 1380. Some passengers that were on Tuesday's Southwest Flight 1380 received a $5,000 check from the airline, among other items.

isis-killer-beheading-video-story-top Democrats sue Trump campaign and Russian Federation , claiming they interfered in 2016 election
Apr 21, 2018 - 04:23
Additionally, the lawsuit demands unspecified damages and a court order to prevent further interference with DNC computer systems. Papadopoulos is also named in the lawsuit. "They successfully hacked the Democratic Party in 2016 and they will be back".

isis-killer-beheading-video-story-top Tv channel, start time, preview, NBA Playoffs
Apr 21, 2018 - 04:23
New Orleans' largest lead came when Jordan Crawford hit a 3-pointer with 6:46 remaining in the fourth quarter for a 112-79 lead. Naturally, #NBATwitter had plenty to say about the Pelicans' dominance and the lackluster play from the Blazers in Game 3.

isis-killer-beheading-video-story-top Friday pressure briefing: Can Spurs end semi-final woes against Man Utd?
Apr 21, 2018 - 04:20
Tottenham team news: Dele Alli is set to return for the semi-final after being rested for the midweek draw at Brighton. Mark Hughes: "It's the greatest cup competition in the world in my view".