April 26, 2018—Ford on Wednesday clarified its goals for the foreseeable future, as it announced it would be abandoning all of its traditional sedans and hatchbacks in North America.
As noted in a report by theverge.com, in a quarterly meetings call, Ford CEO Jim Hackett said the company would offer only the Mustang and a new Focus (likely sourced from China) in North America in the near future. That announcement effectively kills models like the Fiesta. The popular Taurus model was already set to expire this year. Hackett also confirmed that the 2020 Bronco SUV would get a hybrid version; hybrid versions of the F-150, Escape, Explorer and Mustang had already been announced.
With Ford now shedding itself of most of its loss-making sedan business, the OEM can focus more on investing in new technologies like the connected car, theverge.com noted.
Ford announced its first quarter net income for the year at $1.7 billion, up 9 percent year over year. Its mobility division reported losses of $102 million for the quarter, though.