Ford plans to launch the Lincoln brand in China, part of its plan to catch up with rivals.
Since 2006 Ford has invested $5 billion in China, but refused to disclose how much it spent for this additional investment. But this investment the US automaker didn’t manage to beat GM and Volkswagen in the world’s largest auto market.
Besides launching the Lincoln brand, Ford also plans to manufacture a low-cost car to attract the price-sensitive consumers in China and compete with GM’s Sail vehicle. Ford plans to begin selling Lincoln vehicles from the second half of 2014, with the help of an aggressive plan to revive the brand’s stale image. The US automaker will also launch by the end of this year a refashioned MKZ sedan in the US, trying to attract younger and more affluent consumers.
“The brand in China could be a bright spot for Lincoln globally. We have a chance to be different here. We’re also trying to revitalize the Lincoln brand image and the sales and satisfaction image in the U.S.,” said Dave Schoch, Chairman and CEO of Ford Motor China.
Ford is focusing more on China as the Asian country already managed to overpass the US as the world’s largest auto market, and analysts also expect that by 2020 it will also be the no.1 in luxury sales.