Ford Mustang Hybrid: the rumor mill is still spinning

Ford first-quarter earnings top estimates to drop slow-selling sedans

The company that put Americans in cars affirmed Wednesday that those vehicles are going the way of the Model T and it will focus ever more on trucks and SUVs.

The No. 2 USA automaker said it now plans to cut $25.5 billion in costs by 2022, up from a total of $14 billion the company announced to investors last fall.

A major plank of Ford Motor Company's platform of having 90% of its North American sales consist of trucks and SUVs by 2020 has been divulged.

Ford's decision to discontinue nearly all of its auto models in North America within two years will leave its Canadian operations intact, since they are focused mainly on sport utility vehicles and light trucks.

Ford's remaining United States range will be SUVs and pick-ups, although it might introduce new "white paper" vehicles that the brand describes as combining "the best attributes of cars and utilities, such as higher ride height, space and versatility".

The news comes as Ford announced a $1.7 billion profit for the first quarter of 2018.

The firm announced yesterday the Mustang and the Focus Active will soon be the only regular cars available at USA and Canadian dealerships. In 2017, the company's pretax profit fell to $8.4 billion from $10.3 billion.

More news: Facebook reports strong earnings despite privacy scandal

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.

Ford President and CEO Jim Hackett cited the declining popularity of the car-which the company pioneered more than a century ago-as the reason for the decision.

The company recorded a 7% increase in revenue and a 9% increase in net income to $1.7bn in the first quarter.

Wall Street applauded the move, sending Ford shares 2.5 percent higher in early Thursday trading. Ford said this is the future, and it means a total refresh of the existing lineup of SUVs and crossovers. Europe was the only other region to turn a profit for Ford.

According to Motor Trend, the most likely powertrain configuration would be one that sees the 2.3-liter EcoBoost gasoline engine married to an electric motor positioned between the said powerplant and the transmission.

Ford plans to introduce an F-150 hyrbrid model by 2020.

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