According to Lincoln dealers, Ford Motor Co plans to invest around $1 billion in new vehicles as an attempt to revive its struggling luxury brand, as reported in Wall Street Journal (WSJ) on June 20th, 2011.
Lincoln which was once America’s top selling luxury car brand witnessed a steep decline in its sales, with Ford offering upgraded versions of the same models. Lincoln sales fell to 85,000 in 2010 and the company forecasted its sales touching a low of 78,000 for 2011.
As a part of the efforts to rejuvenate the struggling brand, Ford in the next four years will back seven new or significantly upgraded models for Lincoln. Ford management announced that the Lincoln products will share the underbellies with that of Ford products, but will be different in terms of their looks and technology. Ford predicted they will sell over 150,000 by 2015 once its array of cars has been overhauled.
A Lincoln spokesperson Timothy Elliot quoted that Lincoln with Ford’s support was committed in establishing Lincoln as a world-class luxury brand.