In attempt to become a viable competitor with Lexus, BMW, Audi and Mercedes-Benz, FoMoCo announced today that it plans to dramatically reduce the number of Lincoln dealers as a part of a major overhaul for the lagging luxury brand. The bulk of the dealerships cuts will come from 500 stores in the nation’s top 130 markets.
There are currently 1,200 Lincoln stores including 500 in the 130 largest markets. Ford its dealers today those markets account for 85 percent of all luxury vehicle sales in the nation.
A meeting with 700 U.S. Lincoln dealerships and top Ford executives has been scheduled for next week to discuss new products, upgraded dealerships and better customer service.
No specific cuts or compensation packages were announced today, but FoMoCo hopes to cut as many as 200 franchises.
– By: Omar Rana
Source: Automotive News (Subscription Required)