Member access

4-Traders Homepage  >  Shares  >  Tokyo  >  Toyota Motor Corp    7203   JP3633400001

TOYOTA MOTOR CORP (7203)

47
SummaryChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 

Ford revives Lincoln with glass roof and "date nights"

04/02/2012 | 09:29pm US/Eastern
Recommend:
0

Ford Motor Co is rolling out new Lincoln models with a panoramic glass roof option to lure younger, more affluent buyers, as the No. 2 U.S. automaker tries to revive a luxury brand whose sales peaked two decades ago.

The new signature retractable 15-square-foot roof is just one feature designed to distinguish the 2013 Lincoln MKZ sedan in the crowded luxury market.

Ford is betting that fresh designs, glossier showrooms and a personalized approach to service will help drive sales. The MKZ, which will be unveiled at the New York auto show this week, is one of seven new or revamped Lincoln models to be introduced by 2015 intended to resuscitate the brand.

"We realize we have a long journey ahead of us, but I think we have set a good foundation for it from the product and also what we're trying to do with the consumer experience," said Mark Fields, head of Ford operations in North and South America, at a media event in New York's Chelsea neighborhood.

Lincoln was the top-selling luxury nameplate in the United States in the 1990s, but last year, sales totaled 85,643, less than half the vehicles sold by Lexus, Toyota Motor Co's (>> Toyota Motor Corp.) <TM.N> luxury brand.

Ford aims to lower the average age of Lincoln buyers to 57 years from 65, and raise the target average income by more than 50 percent to nearly $160,000 a year.

DATE NIGHT

Lincoln is also hoping that over time half of its buyers will come from other luxury brands. Currently, Lincoln's "conquest" rate is 37 percent.

To encourage more car shoppers to test drive a Lincoln, Ford is considering initiatives like "the Lincoln date night," Ford's head of global marketing, Jim Farley said.

"To reward you for sampling the brand, we'd like to take you out to dinner, on Lincoln," Farley said. "It's a great way to eliminate that friction that so many conquest customers will have."

Ford has not released pricing information on the MKZ, nor has it disclosed how much the glass roof option will cost. The MKZ competes against the Cadillac CTS and the Lexus ES.

Lincoln is offering the MKZ with three different powertrain options, including a hybrid that can get 41 miles per gallon in the city, and a lane monitoring system. As a standard feature, the MKZ will also come with MyLincoln Touch, a touch-screen entertainment and navigation system.

The MKZ is the first Lincoln model since the 1970s to be crafted by a group of designers devoted exclusively to the luxury brand. The design team is headed by Max Wolff, a former Cadillac exterior designer at General Motors Co (>> General Motors Company).

"They are really trying to make an effort to differentiate them from a content standpoint, from a ride and handling standpoint, a quietness standpoint," IHS Automotive analyst Rebecca Lindland said.

(Reporting By Deepa Seetharaman; Editing by Richard Chang)

By Deepa Seetharaman

Recommend :
0
React to this article
Latest news on TOYOTA MOTOR CORP
1h ago DAIHATSU MOTOR : to Exhibit its new Welfare Vehicles, at 41st International Home..
1h ago DAIHATSU MOTOR : -Exhibition of Four Concept Cars and the COPEN at the Indonesia..
1h ago TOYOTA MOTOR : Announces Return of Dream Car Art Contest
2h ago TOYOTA MOTOR : Japan business execs agree with China to work on environment issu..
2d ago The Consistency of IIMS 2014 in its Effort to Improve Education in Indonesia
2d ago TOYOTA MOTOR : Financial Services, ChildFund International and Theorem Clinical ..
2d ago WELLS FARGO : AFP Selects Finalists for Treasury and Finance Excellence Awards
3d ago TOYOTA MOTOR : A story driven by innovation
4d agoDJPRESS RELEASE : The Conference Board Leading Economic Index(R) (LEI) for the U.S..
4d ago TOYOTA MOTOR : Toyoda Gosei to open new plastic auto parts plant in Mexico
Advertisement
Chart
Duration : Period :
Toyota Motor Corp Technical Analysis Chart | 7203 | JP3633400001 | 4-Traders
Income Statement Evolution
Toyota Motor Corp : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF