Ford Motor Company’s new chief executive, Mark Fields, has promised to pour a little T.L.C. and a ton of cash into the Lincoln brand. Ford hopes that the multi-year, multibillion-dollar commitment to their luxury brand will help reposition Lincoln as a global luxury automaker.
Reuters has reported that over the next five years, Ford could invest as much as $5 billion to revive the brand, which will include the addition of several new and improved Lincoln models. The investment also promises a new, premium vehicle platform that will underpin several future Lincoln vehicles.
“It’s really important for us to have a relevant and vibrant luxury brand,” Fields told Reuters. “You need to make the investment and build this brand over time.”
Lincoln’s revamp will introduce a new product portfolio, a new brand image, and will position the automaker to compete directly with Mercedes-Benz and BMW AG internationally. In the short-term, Ford hopes to triple Lincoln’s sales to 300,000 by 2020. Over the long-term, the automaker hopes to restore Lincoln’s position as a top luxury brand in the U.S. and provide it with the same position in China. To get things started, the Lincoln MKZ sedan recently arrived in China, becoming the first Lincoln vehicle to make its way to that country.
Here at Shults Ford Lincoln of Wexford, we can appreciate lofty goals and high expectations. We look forward to seeing how Ford’s investment in Lincoln will revive the brand we love.