Ford bosses are expected to announce in the coming days that the Ford Fiesta will be scrapped due to rising component costs and drivers opting for SUVs.
It is understood that executives are holding talks with dealers, suppliers and staff ahead of the announcement.
Ford has sold 4.8million Fiestas in 46 years and it had 12 consecutive years as the biggest seller from 2009 to 2020.
Figures from the Society of Motor Manufacturers and Traders (SMMT) showed it was the sixth bestselling car in September, but reports have suggested that Ford has no plans to electrify the model.
A spokesman for Ford said that it was "accelerating our efforts to go all in on electrification", and so the company is reviewing the portfolio of cars it has on offer.
He told the BBC that the carmaker does not comment on speculation and that more information would be made available soon.
The Fiesta is currently produced in Germany, although the first model rolled off the production line in Dagenham, Essex, in 1977.
The car was at the forefront of the US carmaker's efforts to corner the British car market because of its more affordable price point.
It was created originally as a more fuel-efficient, small car in the wake of the 1973 oil crisis.
Ford is now focusing on an all-electric future, however, and have promised four all-new, battery-powered cars and five vans by 2024. The Fiesta is expected to be discontinued from the middle of next year.
*Article Source www.newspress.co.uk