Boston, MA 06/30/2014 (wallstreetpr) – Ford Motor Company (NYSE:F) appears ready to refocus on its luxury nameplate Lincoln as the company pursues big profits. The company believes that appealing to younger buyers with a reworked Lincoln line would help it increase sales of the car while boosting its revenue and profits.
Sales of Lincoln brand have been on a downfall and at some point the company was going to discontinue the product. However, a man who convinced the management about the importance of Lincoln brand is set to assume the leadership of the company and that development is poised to change how the company views Lincoln brand.
Following the retirement of Alan Mulally, the revival CEO who helped Ford Motor Company (NYSE:F) avoid a government bailout during the recession and saw the company improve its bottom line faster than rivals, Mike Fields, currently chief operating officer, will succeed Mulally as the CEO. Fields pitched positively for Lincoln at a time when the company was considering killing it. He is now expected to focus on the growth of the luxury brands where Lincoln is included.
Since 1990 during which peak sales of Lincoln line were experienced, sales have dropped more than 65 percent. However, Fields seems to believe that sales can rebound in the segment, and that would be important for the company’s bottom line. As an immediate move, recasting of Lincoln is expected to focus on luring young buyers with competitively priced sports utilities.
More nameplates
Having noted encouraging performance in Asia, especially China, Ford Motor Company (NYSE:F) is expected to launch more vehicles this year than its Detroit Three rivals such as General Motors Company (NYSE:GM). The new vehicle platforms are expected to help the company make inroads in international markets, especially China where robust growth is anticipated.
Ford after Mulally
Since 2006, Mulally became the face of Ford Motor Company (NYSE:F) and his exit leaves behind a company that has undergone serious revival in its market share and balance sheet. As if to mimic its archrival GM, Ford has picked an insider to take it to the next level. This move is expected to support the revival strategy of the outgoing CEO.
