The stock of Ford Motor Company (NYSE:F) closed at $12.21 gaining 0.83% in yesterday’s trading session. In its recent statement, the company disclosed that it was moving ahead to rebadge its Lincoln land yachts. Reports indicate that there has been a major drift in the luxury brand’s sales. The three-letter naming scheme has been praised by analysts who have said that it played a significant role.
Lincoln has in the recent times been toasting over the rechristening of its top-selling SUV and this is happening in a matter of days ahead of the Los Angeles Auto Show. The name is going to be changed from MKX to Nautilus in honor of a Latin for sailor.
It is a moment of reckoning for the monikers of models including the MKC crossover and MKZ sedan.
Lincoln’s marketing chief, Robert Parker, opined, “As we bring in new products, I think you’ll see us move away” from the MK naming convention. The revival of the flagship Continental sedan was the first step in switching up the brand’s nameplates.”
Lincoln seems very much uncomfortable with the century old names and is looking forward to mimicking the German luxury lines with venerable marques like the BMW 7 Series and Mercedes S-Class.
Reports indicate that the gambit didn’t perform as well as was expected. The rankings have Lincoln placed in the eighth among luxury car lines in the U.S. Other reports show that the Mercedes-Benz has managed to outsell the brand by a 3-to-1 ratio as was unveiled by researcher.
At the moment, Ford is said to be in the midst of a strategy in which it hopes to spend billions in the process of overhauling its luxury line.
The senior vice president of forecasting for researcher LMC Automotive, Jeff Schuster said that even as an analysts she had been struggling with the MK nomenclature. According to him, quite a large number of consumers were struggling connecting to those names. They had problems distinguishing one vehicle from the other. Whenever a name fails to be recognized, it eventually implies that one is indeed losing image.