Car manufacturer Ford is set to discontinue the Fiesta - once named the most popular car in Britain for 12 years running.
Ford said it is “accelerating our efforts” to go electric ahead of a ban on the sale of new petrol and diesel cars from 2030.
The soaring costs of car parts and a surge in popularity for SUVs are also thought to be contributing factors behind the decision.
Ford will end production of the Fiesta in Cologne, Germany, by mid-2023.
The manufacturer will also discontinue production of the S-MAX and Galaxy in Valencia, Spain in April 2023.
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Martin Sander, General Manager Ford Model e Europe, confirmed the news in a tweet, saying: “As one era ends next summer, another is just starting.
“#FarewellFiesta, it’s time to say goodbye to the little car that has touched us all – thanks for all the memories.
“But honestly, I can’t wait to show you what we’ve got coming. #EVs #ElectricVehicles Stay tuned!”
The Fiesta is currently produced in Germany, although the first model was manufactured in the summer of 1976 in Dagenham, Essex.
Since then, more than 22million have been produced in over 50 countries, and it was named the best-selling car in Britain for 12 years in a row, from 2009 to 2020.
The Fiesta was the sixth best-selling new car in the UK last month, with 4,570 registrations, according to the Society of Motor Manufacturers.
Ford is to only produce electric cars by 2030 and all vehicles it makes are to be electric by 2035.
It has already axed its Mondeo and the Focus will no longer be manufactured from 2025.
“We will introduce three new exciting electric passenger vehicles and four new electric commercial vehicles in Europe by 2024,” the company said in a statement.
“We plan to sell more than 600,000 electric vehicles in the region by 2026, and the electric passenger vehicle production at the Cologne Electrification Centre will reach 1.2 million vehicles over a six-year timeframe.”
The BBC reports that Ford has been holding talks with dealers, suppliers and staff.
