A surely apocryphal tale doing the rounds says Ford has made more money from its licence with Lego to sell branded products than it has from selling Ford Fiestas in Europe in recent years.

When I asked about the veracity of that, the response wasn’t emphatic. Instead, I was told to look beyond the sticker profits and factor in extended warranties, ongoing servicing, accessories, paid-for online services and more.

Of course, the Fiesta’s relative lack of profitability has been drawn sharply into focus in the past year by the fact Ford has prioritised its chip supply elsewhere. It prefers instead to sell Ford Pumas (currently Britain’s second-best-seller behind the Vauxhall Corsa this year) and Ford Transit Customs (currently not just Britain’s best-selling van, but best-selling vehicle).

Herein lies a horrible truth: somewhere between the HQs in Cologne and Detroit, Ford high-ups must be debating the Fiesta’s future, a car beloved by learners, new drivers, small families, young professionals and more. It was Britain’s annual chart-topper for 12 years on the trot until the pandemic, and our best-selling car of all time.

What to do? Ford people are tight-lipped, but based on seven-year car cycles, the current Fiesta is up for renewal around 2024. A full replacement is possible but unlikely given its lifetime would stretch into the 2030 ban on new ICE sales, although the current car’s merits are strong enough that stretching its underpinnings, even under the guise of a refreshed new model, could appeal.

Notably there has been no word on a Fiesta EV, which would most likely require a costly new platform even if there was the will – and profits – to justify it. A current government consultation is proposing to enforce that 22% of all UK sales are fully electrified from 2024, with the mandate ramping up dramatically every year thereafter, so it’s not just economics that count against the Fiesta.

For volume makers like Ford, that mandate is a bigger headache than for smaller rivals: pumping out low-profit ICE Fiestas will just mean added pressure to shift more EVs to keep its sales proportions in line. Ford is moving fast here, aided by its platform sharing with VW, but it’s a reality that the UK’s path to electrification is forcefully stringent. Persisting with the Fiesta, low-profit margins and all, could be a headache Ford doesn’t need.

Every small car maker faces the same issues, but for Ford the potential shift away from an icon makes the significance greater.