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Archive for the ‘Lincoln’ Category

Lincoln Pushing Dealers to Split from Ford Stores

Company offering incentives to build standalone locations.

by on Aug.14, 2018

Lincoln is pushing dealers with twin Ford-Lincoln dealerships to split those locations up, creating standalone Lincoln stores, like Lincoln of Troy (Michigan) in the next two years.

Lincoln is the latest luxury brand looking to exploit the advantages of this trend: stand-alone dealerships.

After escaping death at the hands of former Ford CEO Alan Mulally nearly five years ago, the company is asking owners of Ford-Lincoln dealerships in 30 major markets to build separate stores for the Lincoln brand.

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The concept isn’t entirely new as plenty of automakers have asked dealers to do the same throughout the years, the most recent being Hyundai and Genesis, although that program is in its infancy. Lincoln has a bit of history with stores separate from Ford-branded outlets from the days when it was Lincoln-Mercury. (more…)

Ford Q2 Earnings Hurt by China, Supplier Fire

Automaker revises full-year guidance downward.

by on Jul.25, 2018

Jim Hackett, Ford president and CEO, said the company is moving to invest in areas that will return the best profits.

Ford’s second-quarter earnings were down compared with year-ago results, driven there by poor sales in China and the loss of truck sales when its supplier suffered a fire that forced the company to shut down its truck production lines for eight days.

The automaker reported net income of $1.1 billion, or 27 cents a share, on revenue of $38.9 billion, compared with 2017 results of net income of $2.1 billion, or 51 cents a share, on revenue of $39.9 billion.

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“This quarter we achieved solid results in North America, offset in part by unexpected challenges with our overseas operations and headwinds in the business environment,” said Jim Hackett, president and CEO, in a statement. (more…)

Genesis Tops JD Power APEAL Survey

Korean up-start topples luxury mainstays, but Detroit mainstream brands also gain ground.

by on Jul.25, 2018

The Genesis brand aced another test, a month ago also topping Power's IQS.

Genesis, the upstart Korean luxury brand, has pulled off another surprise, this time landing the top spot in the 2018 J.D. Power APEAL study, surpassing such traditional highline brands as Porsche, Mercedes-Benz, BMW and Lexus.

It’s the latest in a series of coups by Genesis, which was spun off by Hyundai just two years ago. And it comes barely a month after the Korean marque also landed in the top spot on Power’s widely followed In initial Quality Survey. But there were some other surprises in the APEAL report which measures how well individual brands and models are satisfying their owners. Mainstream brands, notably including some Detroit marques, are rapidly gaining ground on the luxury badges that have traditionally led in customer satisfaction.

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But the industry, as a whole, achieved record levels in the 2018 APEAL study – the name short for “Automotive Performance, Execution and Layout” – the second year in a row that has happened.

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GM Sales Rise as Ford’s Fall in China

Ford sales likely to suffer until next year.

by on Jul.12, 2018

While Ford's Mustang is still selling well, the rest of its line-up is not, contributing to a double-digit decline in the first half of 2018.

General Motors posted a slight gain in sales in China during the second quarter, but Ford Motor Co. continued to stumble with a double-digit decline that deepened its woes in the world’s largest market for new vehicles.

In what is described as a slow market, GM and its joint venture partners delivered 858,344 vehicles in China during the second quarter of 2018 as sales grew 0.7% from a year earlier.

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Ford’s China slump intensified, as vehicle sales tumbled 38% in June and the automaker recorded its worst-ever first half. Ford sold 62,057 vehicles in China in June, taking its sales for the first half of the year to 400,443, down 25% compared with the year-ago period. (more…)

Ford Earns $1.7 Billion in First Quarter

Automaker accelerating efforts to cut costs.

by on Apr.26, 2018

Ford CEO Jim Hackett said the company is accelerating is cost-cutting measure and expanding their scope.

Ford reported first-quarter revenue of $42 billion and net income of $1.7 billion, or 43 cents a share, beating analysts estimates by 2 cents a share. The revenue result was a 7% increase while net income reflects a 9% increase over year-ago results.

However, the company’s pre-tax profits were $2.2 billion, a 14% drop compared with last year’s result, which was attributed to commodity price increases and unfavorable exchange rates.

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The 9% increase in quarterly profit can be almost entirely attributed to a drop in the automaker’s effective tax rate to 9% from 28.6%, Ford officials said. (more…)

And Then There Was One: Mustang. Ford Cutting Cars by 2022

Updated: Ford not only automaker shifting from cars to trucks, sport utes and crossovers.

by on Apr.26, 2018

In less than four year, these will be the only cars you can buy from Ford.

(This story has been updated to include comments and details on shifting product plans at General Motors and other manufacturers.)

The Mustang will be the last survivor.

That’s according to Ford Motor Co.’s new plan that calls for the elimination of all cars, except the original pony car, by 2022.

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What’s left will be nothing but profit centers, or at least potential profits, as the company focuses on what consumers are really buying these days: trucks, sport-utilities and crossovers. Ford CEO Jim Hackett confirmed the plan during the company’s earnings call. (more…)

Ford Suffers, GM Coasts in March Sales in China

Volkswagen posts a sales increased in March.

by on Apr.17, 2018

Strong Malibu sales in March helped GM to a small sales gain of 2%.

Ford Motor Co. saw its sales in China, the world’s largest automotive market, drop by 11% during March, while General Motors eked out a 2% gain as its sales continue to grow.

GM, which will now report its China sales quarterly rather than monthly in the future, said its joint ventures in China delivered a March record of 352,346 vehicles. Buick and Cadillac enjoyed record deliveries in March, while Chevrolet grew 35% from a year earlier, GM said.

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Sales in the first three months of 2018 increased 8% on an annual basis to 986,052 units. (more…)

Caddy Triggers Battle of the Behemoths with $10,000 Escalade Discounts

Fighting off the new Lincoln Navigator.

by on Apr.16, 2018

A Cadillac Escalade Platinum can top $100,000.

If you’re looking for one of the biggest, baddest luxury utes on the market, Cadillac is hoping to lure you into one of its U.S. showrooms. Aiming to shore itself up against an assault by Lincoln’s newly updated Navigator SUV, Caddy is firing back with discounts of up to $10,000 on its own Escalade model.

GM has traditionally dominated the full-size SUV segment, both mainstream and luxury, and it gained significant traction when it introduced an all-new version of the ‘Slade for the 2014 model-year. But that’s a lifetime ago in today’s hotly competitive market and Lincoln has been building momentum fast with the all-new version of the Navigator it launched last year.

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While the two models don’t generate a lot of volume they serve up substantial profits for their respective manufacturers, providing plenty of room to load up the incentives. The question is whether Lincoln will now fire back with big givebacks of its own.

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Lincoln Planning Five New Models for China in Bid to Catch Rivals

China destined to become brand’s top market, said new Lincoln chief.

by on Apr.12, 2018

The Lincoln Aviator made its U.S. debut last month and should reach China by 2019 or 2020.

Struggling to catch up with rivals now dominating the world’s largest luxury car market, Lincoln plans to start building five new models in China by 2022, according to a report by the Reuters news service.

That’s in line with comments made to TheDetroitBureau.com by Lincoln’s new boss, Joy Falotico, who said she expects China to soon become the brand’s largest market, much as has happened for other luxury marques, including Detroit-based rival Cadillac.

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It appears that the new models Lincoln will build in China will also be produced and marketed in other countries, including the U.S. During a backgrounder on the new Aviator SUV prior to its debut at the New York International Auto Show late last month, Falotico revealed that Lincoln plans to launch two new SUVs by 2020, “followed closely by four more vehicles.”

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BMW’s Access Follows Leaders in Luxury Leasing

Brand becomes latest to offer subscription service.

by on Apr.04, 2018

Ian Smith, BMW's chief executive officer of BMW Group Financial Services, will oversee Access by BMW, which starts in Nashville.

The old adage states that there are no original ideas and proving that one more time is Access by BMW, the brand revealed it will become the latest automaker to introduce a new subscription-based leasing plan.

The maker is using the app-based program to allow consumer to drive its top performance cars for as much as $3,700 a month. The new service kicks off this week in Nashville, Tennessee, and allows users unlimited access to cars.

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The most expensive plan, the $3,700 version, permits users access to the company’s M-class cars and is appropriately dubbed the “M” tier, giving them access to the BMW M4 convertible, the all-new M5, BMW M6 convertible, as well as the BMW X5M and BMW X6M Sports Activity Vehicles. (more…)