That's not accurate in any form. The Mustang was not a sedan, but a coupe, and Ford has not stopped making the Mustang in the current form. You can still order a GT500 with 12mpg city. They added an electric version, the Mach-E, which is more of a crossover format.

I wouldn't call that a version, the Mustang Mach-E is a different product line. Just shares the branding and takes some design cues. It's like an adopted son who gets dressed up like the father, but has different genes