source: Bloomberg
By Keith Naughton
March 30 (Bloomberg) — Ford Motor Co. plans to expand the Lincoln luxury line by adding a hybrid model based on its top- selling Fusion sedan, two people familiar with the matter said.
The hybrid Lincoln MKZ will be unveiled tomorrow at the New York auto show, said the people, who asked not to be identified because Dearborn, Michigan-based Ford hasn’t announced the details.
Ford’s vision for Lincoln reflects Chief Executive Officer Alan Mulally’s decision to focus on the namesake brand and go without a global luxury marque after agreeing to sell Volvo Cars to Zhejiang Geely Holding Co. this week. The Swedish unit was the last of four such overseas brands unloaded since 2007.
“Our track record operating with global premium brands has not been stellar,” Chief Financial Officer Lewis Booth said last week in an interview. “We are going to continue to focus on Ford and the opportunities to drive revenues on Ford.”
Ford will sell Lincoln only in North America, Booth said. Since arriving in late 2006 from Boeing Co., Mulally has disposed of Jaguar, Land Rover, Aston Martin and Volvo, and stressed rebuilding the reputation, quality and offerings of the Ford brand and the company’s original luxury line, Lincoln.
Ford paid $11.8 billion for Jaguar, Land Rover and Volvo, and the sales prices for those brands totaled $4.2 billion. The company said in 2007 it received $848 million for Aston Martin without disclosing what it paid.
‘House of Brands’
Mulally’s dismantling of what he called Ford’s “house of brands” is a departure from the strategy followed by other automakers, which develop global luxury lineups as a source of profits and prestige.
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