In mid-morning trading, shares of Ford were up around 2.5%, at US$11.40.
The change is part of the company's wider $11 billion cost-cutting plan to end most of its vehicle production in North America and instead focus on SUVs, like the Explorer, and pickup trucks, like the popular F-150.
"Given declining consumer demand and product profitability, the company will not invest in next generations of traditional Ford sedans for North America", the company said.
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. Expect more crossovers and SUVs, then, or cars that Ford describes as combining "the best attributes of cars and utilities", as the brand switches focus.
News of the turnaround plans arrived as Ford reported further signs of difficulty in the first quarter of 2018. Additionally, the company plans to keep around a new Focus trim dubbed "Active". "The company now anticipates reaching an 8% profit margin by 2020, two years ahead of schedule", Keith Naughton writes for Bloomberg.
"We have looked at every single part of the business", Shanks said.
Ford is shifting its emphasis from traditional cars, shifting $7 billion of research from cars and putting it into SUVs and trucks.
"This might be the boldest move Ford has made in many years as they pin their hopes on future products that no one has seen", he said. Europe was the only region to turn a profit for Ford.
These are some of the most common options if you rent a full-size vehicle at a USA airport location: 2018 Ford Fusion. This will act as a buffer against rising gas prices as the vehicles get bigger, according to Hackett and Jim Farley, Ford president of global markets.
That means the Fiesta, Taurus, Fusion and the regular Focus will disappear in the United States and Canada.
The lion's share of the automaker's quarterly profit was driven by high-margin pickup trucks and SUVs in North America. By white space, Ford refers to vehicles that don't fit into typical categories.