It appears that Mark Fields, Ford’s young and bold new chief executive, has decided to bring the almost catatonic Lincoln brand to its former prowess, putting his faith in the unit’s power of recovery.
According to four sources that talked to Reuters under condition of anonymity – because the plans are not yet of public knowledge – the brand would be given what the praised predecessor (Alan Mulally) denied it – some love and a whole lot of cash.
Lincoln is a heritage brand for the Detroit automaker – Ford has owned it since 1922 – but for the past two decades it faded into the shade: new models were scarce and they were mere reinterpretations of mass-market Fords with a serious price tag. So, customers and dealers alike often wondered if the management wasn’t on its way to declaring Lincoln dead.
Now, with complete backing from Executive Chairman Bill Ford and the supervisory board, the new CEO has pledged to a complete multiyear, multibillion-dollar overhaul of Lincoln. Among the steps undertaken are the introduction of an all-new premium vehicle platform which would become the basis of many Lincoln products in the future. According to the insiders, the investment could reach $5 billion as Ford wants Lincoln to one day compete with global luxury leaders Mercedes and BMW.