As recently as February of this year, there have been reports claiming a new generation of the Ford Focus RS was in the works. However, the latest comments from a senior Ford Motor Company [NYSE:F] exec put the car’s future in doubt.

“There’s nothing to talk about,” Ford’s European chief Stephen Odell told Autocar. “It’s great that we have a proud past with RS, and it’s clear it has acted as a halo product and a way of linking to our racing programs, but for now there is nothing to say.”

Excitement surrounding a new generation of the Focus RS peaked last year when a test mule was spotted. However, since then all leads have gone cold. An insider has told us that Ford’s European division was strapped for cash and unwilling to commit resources on what would end up being a niche product, especially with the new Mondeo's arrival (Europe's version of the Fusion) constantly being delayed.

There’s also the issue of Ford launching its Mustang in Europe for the first time; the Mustang and Focus RS were expected to utilize the same 2.3-liter EcoBoost four-cylinder, and the two would likely feature similar starting prices. Then again, the buyers for the respective cars are likely to be very different.

We’ll bring you an update as soon as more details emerge.

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