How is the luxury car aftermarket doing? Will Lincoln be the first to fail?
Mar 21, 2024Nowadays, there is a saying that the Chinese car market doesn't really need any second-tier luxury brands, especially as the prices of domestic brand models continue to rise and their quality and service are increasingly recognized by consumers. Consequently, the days of second-tier luxury brands are becoming more difficult.
The data shows that in 2023, Cadillac and Lexus sold 183,600 and 181,000 vehicles respectively, both seeing a year-on-year decline. However, compared to Cadillac and Lexus, the sales of Lincoln cars were even more dismal, with only 71,000 units sold for the full year of 2023, not even reaching the leftovers of Cadillac and Lexus, not to mention the rising Jaguar Land Rover and Volvo. It can be said that Lincoln cars are far behind in the second-tier luxury brand segment.
The ups and downs of ten years.
If we were to talk about the top choice among many classic car enthusiasts, Lincoln cars might not be the number one option, but they would at least make it into the top three. This prestigious American luxury brand, born in 1917, has captivated the hearts of many consumers with its elegant and distinguished brand characteristics.
In 2014, Lincoln made a comeback to the Chinese market and quickly entered a period of splendor. The following year, sales surpassed 10,000 units, and continued to grow until 2021, reaching 91,600 units.
But as the growth rate of the Chinese car market slows down, the rise of domestic brands, and the increasing popularity of new energy vehicles among domestic consumers, Lincoln, a second-tier luxury brand, is increasingly falling behind.
The road to electrification seems to be "far off" or "distant" in the future.
As is well known, in today's domestic car market, whoever takes the initiative to launch new energy vehicle models has the prerequisite for success. However, Lincoln has yet to release a pure electric vehicle model, despite the releases of the plug-in hybrid models for the Adventurer (image|configuration|inquiry) and the Navigator. Recently, the hybrid version of the Lincoln Z (image|configuration|inquiry) has also been officially launched, but there is still no sign of a pure electric vehicle model.
The large ship is difficult to turn around, but compared to other second-tier luxury brands, Lincoln's turning speed has slowed down somewhat. Cadillac has launched the Lyriq, and Lexus currently has new energy models RZ and UX, while Volvo has fully embraced "electrification". Meanwhile, Lincoln is still only on paper.
In April 2022, Lincoln's first pure electric concept car, the Lincoln Star, made its debut. However, now two years have passed, and the goal announced then to launch three new pure electric models by 2025 still seems "distant and uncertain."
Lincoln Z starting price: 235,800 yuan, picture parameter configuration inquiry bottom price understanding car segment 3.97 understanding car real test space·performance and other car circle 100,000 car enthusiasts heatedly discussing used cars starting at 158,900 yuan | 109 vehicles.
"Lincoln will adhere to its own rhythm and pace, open up new energy tracks for Lincoln, and launch the right products at the right time. With the arrival of the electrified hybrid family, we believe that these products are currently the most suitable for customer needs and are also a very important step in Lincoln's electrification process." This is a recent statement made by Zhu Meijun, President of Lincoln China, in an interview. However, can the market still give enough opportunities to wait for the "right time" for Lincoln cars?
