Sci-tech

Ford Mustang Hybrid: the rumor mill is still spinning

Ford Mustang Hybrid: the rumor mill is still spinning

Ford shares rose as much as 3.8 percent, the biggest intraday gain in six weeks, and were up 2.1 percent to $11.34 as of 11:38 a.m.in NY.

The Mustang turned heads at this year's auto show with the new take on Steve McQueen's "Bullitt" Mustang and a new Focus Active mini crossover.

Ford now sells the Fiesta, Focus, Fusion, C-Max, Mustang, and Taurus sedans and coupes in North America, according to Tech Crunch. The company expects its profit margin in North America to rise to 10 percent by 2020, Shanks said.

Like rivals Ford Motor Co and Fiat Chrysler Automobiles NV, GM is banking on highly profitable pickup trucks to boost margins, as US consumers abandon traditional passenger cars in favor of larger, more comfortable trucks, SUVs and crossovers. The automaker says it made $1.74 billion, or 43 cents per share, compared with $1.59 billion, or 40 cents per share a year ago.

It will still produce SUVs and pickups as they continue to be popular with customers, but the Fiesta, Taurus, Fusion and regular Focus models will disappear from United States showrooms.

Despite the higher profit, Ford's adjusted pretax profit margin fell to 5.2 percent from 6.4 percent in the same quarter in 2017.

The American automaker says the only passenger model it plans to keep is the popular Mustang.

Ford had already announced that the new Fiesta ST would not be crossing the pond due to a lack of interest in the segment, but the main justification is, understandably, profit.

Europe was the only other region where Ford was profitable - a $149-million pretax profit. Ford's marketing and sales division is likely to see a large portion of cost reduction. Initially, those cars were built by hand and later were produced on the world's first moving assembly line, an advance that allowed the company to mass produce their vehicles, according to History.com.

Concerning the latter model, this week's announcement also means that some the new versions of the Focus planned by Ford - the sedan, wagon and hatchbacks - may not be available to American consumers at all. Move comes as no surprise Michelle Krebs, executive analyst at AutoTrader.com, said Ford's move is no shock, reports the Detroit Free Press. By phasing out most of its lineup, Ford can begin developing new mobility services and further invest in its "smart city" concept.

By "white space", the company is referring to vehicles that don't fall neatly into the typical categories. Crucial to this plan is four new SUVs to be added by 2020.