Ford has scrapped its plans to sell the Puma Gen-E electric SUV in Australia.
The Puma Gen-E would have succeeded the combustion Ford Puma, which was discontinued in Australia earlier this year due to flagging sales.
“Since we announced that the Puma Gen-E would join the Ford Australia line-up in early 2023, the EV market, in particular for small SUVs, has changed significantly,” said Ford Australia marketing director Ambrose Henderson.
“There are many factors that influence whether a vehicle’s business case stacks up – such as economic trends, material costs, consumer incentives and global supply chain – and after weighing these up, we took the call that we were better to focus our electrified lineup on other models.”
Ford said last year that the company planned to sell its new small electric SUV, now known as the Puma Gen-E, in Australia.
The Puma Gen-E was unveiled in Germany on Tuesday. Its range is up to 376 kilometres on a full charge, and it can charge from 10% to 80% in 23 minutes.
The vehicle can accelerate from 0-100 km/h in eight seconds. It also features up to 574 litres of luggage room and two high-definition display screens.
“Puma is a success story, loved for its sporty design and driving characteristics combined with unique practicality and class-leading boot storage,” said Jon Williams, European general manager at Ford Blue and Model e.
Ford’s (NYSE: F) share price closed at US$10.74, down from the previous day’s $10.82. Its market cap is US$42.7 billion.