SAN FRANCISCO (Dow Jones) -- Ford Motor Co., struggling as sales of gas- chugging trucks and SUVs suffer, plans to use its new Focus model to speed its transition into the small-car market, the company said Wednesday.
Ford (F) said it expects the 2010 version of the Focus to generate double- digit profit increases over its previous Focus model sold in North America. The new Focus will be built on a global small-car platform like many of its European models.
The Detroit automaker also said it hopes to cut costs by increasing the number of common parts between the European and North American versions of the Focus, up from 20% currently to 90% "in the coming years."
Earlier this month, Ford reported that sales of its trucks and SUVs fell 22.1% in July, with the longtime flagship F-Series pickup down 20.6%.
Meanwhile, Ford, Lincoln and Mercury car sales gained 7.8% during the time. Ford singled out the Focus, noting that sales are up 26% since January.
Poor truck and SUV sales haven't affected just Ford.
