Report: Ford to introduce new hybrid model

|About: Ford Motor Company (F)|By:, SA News Editor

Ford (F +0.1%) will introduce its first pure hybrid model in 2018 in a bid to challenge the Toyota Prius, sources tell Reuters.

An annual run rate of 120K units is expected for the yet-to-be-named model - a figure which is far below the +400K Prius vehicles which were sold in the U.S. last year.

The automaker has had a tough year so far with sales of its hybrid variants of current models.