Ford brings Lincoln into China
Ford’s luxury vehicle division, Lincoln, has just set up shop in China, with plans for a 2014 launch announced. The company has already established Lincoln China with key management appointments already confirmed.
Richard Baker, who joined Ford in 1977 and has served the company in the Philippines, Indonesia, Japan, and even China itself, has been appointed as General Manager for Lincoln China, and supporting him will be Pei-wen Hsu as deputy general manager of marketing and Joanne Kao as deputy general manager of sales.
Lincoln’s brand history dates back nearly a hundred years. The company was founded by Henry Leland, who named his new business after the famous U.S. President Abraham Lincoln. Ford acquired the brand in 1922, and has kept it ever since.
“We recognize the growth potential for Lincoln in China, building on the growing appeal of our new Lincoln products and unique, personalized customer experience in North America,” said Ford Motor Company President and CEO Alan Mulally.
Ford will be marketing the Lincoln brand in China on a separate dealership network, and meetings with dealers interested to take the brand under their wings will commence at the end of this year. The company anticipates robust growth in the Chinese luxury car market, with annual volume forecast to reach 2.7 million vehicles by 2020.
Quoting a study by TNS China on the behaviour of Chinese luxury car buyers, Ford claims that although the primary motivation of luxury car buyers is to seek the purchase of a status symbol (i.e. showoff), there is a growing group of affluent consumers who are less obsessed with what their neighbours think of their cars and more concerned with meeting their own demands.
Jim Farley, Ford’s Group Vice President of Global Marketing Sales and Service, says that “In China, the emerging luxury buyers are younger and fast-changing, and they have a strong desire to understand and appreciate the heritage of a brand- the origins of its real values such as timeless elegance, sophistication and craftsmanship in Lincoln.”
Lincoln’s entry into China ties in nicely with Ford’s aggressive plans for expansion in the country. Five new plants are currently under construction in China, and upon completion, they will double Ford’s production capacity there to 1.2 million cars per year.
“We are on track to deliver 15 new Ford-branded vehicles and 20 powertrains by 2015 to Chinese customers. With Lincoln, we will be expanding our product offering to cover China’s fast-growing luxury car segment,” said Dave Schoch, Chairman and CEO, Ford Motor China.
KON
Pictures: Official Ford release.
