Ford stops making 3 models and gambles on sports cars

The American car manufacturer Ford Motor Co. plans to end production of some of its models as part of a planned operational restructuring announced this year, The Times reported.

The British newspaper quoted sources that said that Ford is planning to no longer produce Mondeo, Galaxy and S-Max models and focus on sport utility vehicles, a more lucrative segment.

The company also plans to reduce the number of dealers, according to The Times.

In July Ford's chief executive, Jim Hackett, said the company planned to spend around $ 11 billion on restructuring its operations in Europe.

Ford lost $ 73 million in Europe between April and June and is facing additional challenges as a result of Britain's exit from the European Union, the newspaper said.

Morgan Stanley analysts said that Ford could fire up to 12 percent of its more than 200,000 employees and that decoupling would be largely concentrated in its European operations.

The Times reported that internal deliberations on the restructuring of the company may take several months and may even result in merging its European operations into a joint venture with a competing company.

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