This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Ford to Sell Lincoln in China in 2014

Stocks in this article: F GM

BEIJING -- ( TheStreet) -- Ford (F - Get Report) said it will introduce the Lincoln brand in China in the second half of 2014.

"Lincoln is an important part of our plan, and introducing Lincoln in China marks the next step in our expansion in Asia and our commitment to serving customers in the luxury market," said CEO Alan Mulally, in a prepared statement.

The luxury automotive sector in China is growing rapidly, expected to more than double from 6% of the market today to 9% by the end of the decade, according to IHS Global Insight. Annual sales of luxury cars are expected to be about 2.7 million units by then and to exceed the luxury market in the U.S.

"Globally, we're seeing a new generation of luxury clients who value more individualistic and tailored options," said Jim Farley, Ford group vice president, global marketing sales and service, in a prepared statement. "Research shows that for luxury consumers in China, international credentials are not enough; heritage and excellence are also expected of a luxury car." Ford acquired Lincoln in 1922.

Ford has been working to revive the Lincoln brand since 2010. In April, it unveiled the MKZ luxury sedan, the first step in the brand's transformation, at the New York Auto Show.

"What you're going to see at the New York Auto Show with the MKZ is going to be one of those tremendous proof points that allows everyone to see where Lincoln is going, and then we'll follow up with other vehicles," Mulally said in an interview at the time.

"We're doing it just right," Mulally said. "We had to restructure Ford and get Ford going again. Now we can do the same thing with Lincoln, and wait till you see the reaction."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,416.85 +225.48 1.31%
S&P 500 2,021.25 +19.09 0.95%
NASDAQ 4,683.4070 +45.4130 0.98%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs