Ford to invest $1 billion in new Lincoln models through 2014

Lincoln

Two weeks ago, FoMoCo’s CEO Alan Mulally met with Lincoln dealers from major metropolitan areas to assure them that the company remains committed to the luxury brand. During the meeting, Lincoln dealers were told that FoMoCo intends to invest around $1 billion in new vehicles by 2014.

Lincoln sales have been sliding – through the first 5 months of 2011, Lincoln sold fewer than 35,000 vehicle, down 7.5 percent from a year ago.

In 2010, Ford had promised Lincoln dealers that the brand will get seven new or significantly upgraded models over the next four years.

“We’re fully committed to making Lincoln a world-class luxury brand with compelling vehicles and an exceptional consumer experience to match,” Lincoln spokesman Timothy Elliott said.

General Motors CEO Dan Akerson recently took a shot at Lincoln, its competitor to GM’s Cadillac. “You might as well sprinkle holy water. It’s over,” he said.

– By: Omar Rana

Source: Detroit News