(AP) — Ford will shed most of its North American car lineup as part of broad plan to save money and make the company more competitive in a fast-changing marketplace, one that includes a dramatic shift toward trucks and SUVs in the U.S.
The changes include getting rid of all cars in the region during the next four years except for the Mustang sports car and a compact Focus crossover vehicle. Ford will no longer sell the Fusion midsize car, Taurus large car, CMax hybrid compact and Fiesta subcompact in the U.S., Canada and Mexico.
Ford says its net income rose slightly in the first quarter due largely to a lower income tax rate.
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.
Revenue rose 7 percent to $41.96 billion.
Ford also says it has found another $11.5 billion in cost cuts and efficiencies.