Lincoln, once the car of the President of the United States, must have extraordinary appeal. Lincoln has indeed had a glorious past in the Chinese market, especially in terms of brand building. However, from January to May this year, Lincoln's cumulative sales in China were only 23,000 vehicles, with an average of less than 5,000 vehicles per month, which is basically the status of the Vice President of the United States - dispensable. This dismal report card is obviously not something to be presented, and it has also brought considerable pressure to Jia Mingdi, president of Lincoln China, who took office in April. In fact, although Lincoln is very famous in China, its scale has always been relatively small. It entered the Chinese market in the 1980s, withdrew in 2008, and returned to the Chinese market in 2014. However, even in 2021, the peak year, Lincoln's sales in China were only 91,000 units, which can barely be considered a third-tier luxury brand. Lincoln's sales in China have been collapsing, which is due to certain force majeure, as its parent company is Ford. In China's auto market, Ford is one of those manufacturers that has truly achieved a flat position. No matter what the outside world is like, it always sits firmly in the mountain city of Chongqing and remains silent. In April 2023, Ford CEO Jim Farley visited China to survey Ford's business in China. In early May, he announced that Ford's strategy in China would focus on commercial vehicle business, electric vehicles and export business, but did not mention passenger cars. Obviously, Lincoln and other cars are no longer Ford's development focus in China. However, the temptation of the Chinese market is too great, and no mainstream brand will give up easily unless it is absolutely necessary. The French car DS sold a total of 71 units from January to May this year and is still holding on. Lincoln will not withdraw easily, and it must still want to save itself. Therefore, experienced veteran Jia Mingdi took charge of Lincoln Motors. However, Lincoln's current situation is indeed not optimistic. Whether the brain change can be successful is quite suspenseful. First of all, the localization strategy originally formulated by Lincoln Motor Company is now crumbling. In 2020, Lincoln China officially launched its localization strategy. The first model was the familiar Aviator, followed by models such as Navigator that were successively produced domestically. In the second year of the localization strategy, Lincoln's sales in China soared to 91,599 units, with immediate results. But from January to May 2024, the cumulative sales of the Aviator were only 7,360, a year-on-year plunge of 38%. For the other models, the cumulative sales of the Navigator were only 9,524, the Lincoln Z fell 31% year-on-year, and the Aviator fell 13% year-on-year. Lincoln has returned to the Chinese market for ten years, and the biggest highlight is actually the localization and localization strategy in 2020. But from the current situation, whether Lincoln is localized is no longer so important, because localization cannot stop the decline in sales. Lincoln’s second challenge in the Chinese market is the weakness of its new energy business. So far, the Lincoln brand has no real new energy vehicle, let alone a hit. In today's Chinese market, it is almost common sense that there is no future without new energy models. Even gas-guzzling Land Rover is transforming to new energy. The biggest reason why Lincoln does not launch new energy vehicle models is Ford. In fact, it is not just the Lincoln brand, but also the models of other business segments of Ford that cannot take the lead in new energy. Because it does not have many relevant core technologies, the update of models is also very slow, and naturally it cannot provide Lincoln with any support of a game-changing nature. At the same time, Ford Motor also announced earlier this year that it would slow down the pace of electrification. This is even worse for the Lincoln brand. If Ford is dragging its feet, how can Lincoln speed up? In addition, in order to maintain its high-end and luxury positioning, Lincoln has always refused to cut prices. In fact, for brands with weak market appeal, both keeping prices or cutting prices are like a cup of poison. The only difference is the toxicity and the onset time. The damage to the brand is irreversible. Judging from the current situation, it is unlikely that Lincoln will be able to turn around in the Chinese market. The localization strategy in 2020 is the last big trick that Lincoln can use as a foreign luxury brand. It is equivalent to going all in on the poker table and having no cards left. However, Jia Mingdi still has cards in his hand. Remember? Ford Motor's new strategy in China includes "focusing on export business". The export here refers to the reverse export from China to the United States. From January to May 2024, Lincoln exported a total of 16,845 vehicles, with the main model being the Navigator. China has a complete automotive industry chain, which helps automakers significantly reduce costs. In this case, what's wrong with "manufacturing in China and selling in the United States"? However, this road actually has a limit, that is, it can only be used on fuel vehicles. The United States now can no longer tolerate electric vehicles from China, even its own son Ford. Judging from the current situation, it will be extremely difficult for Jia Mingdi to bring Lincoln back to its peak. Technology is no longer leading, sales continue to decline, and brand power is gradually weakening, and there is no foundation for a blockbuster. The new energy road may be feasible, but Lincoln is not ready yet. But for Ford, there is nothing to worry about. It can still make a lot of money from markets outside of China, and it can survive well without developing new energy. In Ford's huge product lineup, Lincoln is just one piece of the puzzle. It will not withdraw from the Chinese market in the short term, but it is not worth investing too much resources in it. If Jia Mingdi can achieve some results after taking over, that would be the best; if he can't, that's not a big deal. Neither his parents love him, and the market does not provide positive encouragement. This is probably Lincoln's biggest problem. Everything is okay, but everything is awkward. As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity. |
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