Ford will only offer the Mondeo in base Ambiente trim from the start of 2020, before the mid-sized hatch and wagon are removed from the line-up in the second half of the year.
The move reflects "changing customer preferences including an overall shift towards SUVs", said Ford Australia communications boss Matt Moran.
The segment in which the Mondeo competes is also shrinking. Sales of mid-sized cars such as the Mondeo, Camry, and Volkswagen Passat are down 9.7 per cent in 2019, making their decline slightly sharper than that of the wider Australian car market.
Above: Mondeo Titanium wagon
Only the Toyota Camry has grown its sales this year, with the remainder of the Mondeo's rivals down by between 3.1 and 58.9 per cent.
Although it's lost the range-topping Trend and Titanium models, the 2020 Mondeo line-up will feature automatic high-beam, speed limit warnings, lane-keeping assist and lane-departure warning, and autonomous emergency braking with pedestrian detection.
It will also ride on new 17-inch alloy wheels as standard.
While it was originally slated to come Down Under in the second quarter of 2019, the updated Mondeo revealed in January will not be offered in Australia.
The move will leave the Focus and Fiesta ST as Ford's only passenger cars in Australia.