Newly-minted CEO Mark Fields aiming for 300,000 sales by 2020
The luxury arm of Ford has, in many ways, been recently comprised of rehashed models from the Blue Oval portfolio. Mark Fields, Ford’s newly-minted CEO who succeeds Alan Mulally, plans to change that.
According to Reuters, Ford could spend up to $5 billion on the Lincoln brand in order to engineer a new flexible platform and make more unique, desirable models as Fields aspires to compete with Mercedes-Benz and BMW in the luxury segment.
Codenamed D6, the new platform is rumoured to underpin front-, rear- and all-wheel drive vehicles primarily for Lincoln but also for Ford. The new architecture could be the spark to ignite a brand revival for Lincoln.
“It’s really important for us to have a relevant and vibrant luxury brand,” Fields told Reuters on Friday. “You need to make the investment and build this brand over time.”
The goal of Lincoln’s revival is to sell 300,000 units globally by 2020. While some executives within Ford, speaking to Reuters under the condition of anonymity, have stated the goal might be a bit unrealistic, Lincoln’s entry into the Chinese market could boost sales numbers significantly.
In 2013, Lincoln sold 87,508 units in Canada and the US combined.