Ford beats on first-quarter earnings - but kills sedans in US (F)

The Focus Active is a crossover-style compact

The only cars Ford will renew for the North American market are the Mustang, which is to be replaced with a new model in calendar 2020, and the new Focus Active, which, anyway, the company describes as a crossover SUV.

Cutting its slow-selling sedans and hatchbacks will serve to free up even more capital for light truck and mobility development.

The decision, which Hackett said was due to declining demand and profitability, means Ford will no longer sell the Fusion midsize auto, Taurus large vehicle, CMax hybrid compact and Fiesta subcompact in the U.S., Canada and Mexico. The company will still produce a range of SUVs and trucks, including the Escape, Explorer, Bronco, and F-150-the best-selling truck model in the US.

Ford has since also confirmed that only the next-generation Focus Active will arrive stateside, meaning the sedan and hatchback versions of the vehicle will not make their way to the US market.

Sales for mid-size and large sedans has dropped significantly in the USA since March of past year. Henry Ford agreed as he was still paying per vehicle on the Selden Patent, and figured his future was in farm tractors, anyway. Automotive revenue rose to $39 billion, exceeding the average projection for $37.2 billion in a Bloomberg survey.

The all-new Bronco will be revealed next year
The all-new Bronco will be revealed next year

Crosstown rival Fiat Chrysler already has thinned its sedan lineup to the Chrysler 300, Dodge Charger, and Alfa Romeo Giulia, much to the delight of Wall Street and the automaker's investors.

Ford plans to cut $11 billion in operating costs and $5 billion in capital expenditures between 2019 and 2022.

Ford said on Wednesday the only passenger auto models it plans to keep on the market in North America will be the Mustang and the upcoming Ford Focus Active, a crossover-like hatchback that's slated to debut in 2019. "We're going to feed the healthy part of our business", and dispose of marginal operations, Hackett added. In 2017 the company's pretax profit fell to $8.4 billion from $10.3 billion. "We are driven to turn this business around".

This change includes financial incentives like low-monthly payments, trade-in value of cars as well as the improvement of several factors from more fuel-efficient and better-equipped trucks and SUVs to improved safety ratings and ride qualities of these vehicles. The 9% increase in quarterly profit can be nearly entirely attributed to a drop in the automaker's effective tax rate to 9% from 28.6%, Ford officials said.

The company's loss in its Asia Pacific region was driven by slumping sales in China, where Ford has just begun to introduce new models.

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