The popular Ford Fiesta is set to be discontinued as early as next year as costs of parts rise and drivers opt for SUVs. Ford bosses are expected to announce in the next few days that the production of the Fiesta will end by mid-2023. Executives are believed to be holding talks with dealers, suppliers and staff ahead of the announcement. Ford apparently has no plans for an electric version of the car despite its popularity. 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 added 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. Although last month, the Fiesta was still the sixth best-selling new car in the UK with 4,570 registrations. Ford is thought to be using electrification as an opportunity to reinvent the brand for eco-conscious consumers.