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October 23, 2021
BUSINESS

Ford to sell luxury Lincoln brand in China

Ford Motor Co., eager to grab a piece of China’s growing luxury market, plans to start selling its Lincoln luxury brand here in 2014, CNBC informs. It will be the first time that the nearly 100-year-old brand will be sold in China. At an event at a converted 600-year-old temple in Beijing, CEO Alan Mulally and other Ford executives said they believe Chinese customers will appreciate Lincoln’s heritage as well as its new lineup of vehicles. Ford is introducing seven new Lincolns over the next three years. “Lincoln is well known in China. Our opportunity is to fill in the blanks of what the brand is now,” Ford’s global marketing chief Jim Farley said. The announcement was a surprise for Ford, which had previously said it wanted to re-establish the struggling brand’s reputation in North America before taking it abroad. The midsize MKZ, which goes on sale this fall in the U.S., is the first of Lincoln’s revamped products. The Lincolns sold in China will be made in North America, at least initially. Dave Schoch, chairman and CEO of Ford China, said the company will consider making Lincolns in China if sales demand it. Schoch wouldn’t say how much Lincolns will cost in China, but they will be more expensive than in the U.S. because of luxury taxes, which are based on engine size, and import duties of 25 percent. The 2013 MKZ starts at USD 35,925.

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