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Lincoln looks to buyout 100 dealerships in 2024

Luxury car manufacturer Lincoln plans to close up to 100 dealerships in 2024 in a continuation of its efforts to extract itself from unsuccessful markets.

The Ford-owned brand said it closed a comparable number of storefronts over the course of 2023, ending the year with roughly 500 locations. It aims to shrink that number to 400 by late 2024. Speaking to The Detroit News, Lincoln spokesperson Anike Salceda-Wycoco explained that the dealership buyouts would allow the automaker to focus on regions with suitable customers: “Our priority is to be where the luxury clients are and where the luxury market is.” The brand also plans to build 23 brand-exclusive storefronts over the course of this year.

While competing luxury car manufacturers, such as Cadillac and Lexus, saw their performance improve in 2023, Lincoln sales declined by 2%. Its parent company, Ford, also recorded a 7.1% sales increase over 2022 despite facing a six-week-long United Auto Workers strike targeting crucial Detroit-Three facilities.

On January 22, both brands shared details on a new software and hardware suite available within the recently launched 2024 Lincoln Nautilus. The new technology package includes a customizable display spanning the entire length of the windshield and an additional touchscreen control panel capable of playing media, using apps, and connecting to online services. The system will also be included in upcoming Ford and Lincoln models.

This article was originally published by a www.cbtnews.com . Read the Original article here. .

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