Ford is planning a $5 billion overhaul of the Lincoln brand
Mark Fields, the new CEO of Ford Motors, has decided to make an effort to save the American automaker’s long-stagnant Lincoln brand using a little love and a lot of cash. The company will be dumping at least $5 billion into this effort, according to a report by Reuters which details the company’s aggressive plan to breath new life into the dying brand.
Ford has owned the once successful Lincoln brand since 1922, but the swoon that Lincoln has been in for the past 20 years or so has left many dealers wondering if Ford’s management had decided to leave the brand to die.
However, with renewed backing from Executive Chairman Bill Ford and the company’s board, Fields has committed Ford to a multi-billion dollar overhaul of Lincoln, which will span several years, that includes a massive investment into a new premium vehicle platform that will form the backbone for several future Lincoln vehicles.
The overhaul won’t be cheap, costing the automaker at least $5 billion over the next 5 years or so, but Fields believes that it’s necessary for Ford to do this, saying, “It’s really important for us to have a relevant and vibrant luxury brand. You need to make the investment and build this brand over time.”