Ford to phase out all passenger cars except Mustang

Citing lagging sales for its passenger cars, Ford plans to phase them out by 2022, leaving only the iconic Mustang model available to buyers.

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That includes ending production of the full-size Taurus, mid-size Fusion and subcompact Fiesta, according to NBC News.

"We're going to feed the healthy parts of our business and deal decisively with the areas that destroy value," CEO Jim Hackett said during a conference call Wednesday. "We're starting to understand what we need to do and making clear decisions there."

The Ford Focus, which will be built in China and offered as a crossover, will still be offered in the U.S.

Moving production of the Focus allows Ford to build the revived light pickup Ranger and Bronco SUV models at its Wayne, Michigan, facility, according to NBC News.

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