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Lincoln nearly tripled its China sales in the third quarter to
8,546 vehicles, the company said on Monday.
Despite rapid growth, Lincoln sales distantly trail those of
more established German competitors as well as American rival
GM's <GM.N> Cadillac, all of which produce cars locally to avoid
hefty taxes on imported vehicles.
Lincoln is accelerating its entry into China with plans to have
65 Lincoln stores by the end of 2016, instead of previous plans
of 60, with 80 planned for year-end 2017, Lincoln China
President Amy Marentic told Reuters.
Marentic said the company will also open five to 10 smaller
sales branches to tap into fast-growing auto sales in lower-tier
Chinese cities.
The company is additionally studying the possibility of local
production, she said.
"You're always looking for ways to optimize your business,"
Marentic said, declining to elaborate.
In the first three quarters of the year, Lincoln sales in China
leapt 191 percent to about 21,000, Ford said.
Even with the surging sales, Ford's Lincoln lagged Detroit rival
General Motors Co <GM.N> and its luxury Cadillac brand, which
got a much earlier start. In September in China, GM sold about
12,500 Cadillacs, up 63 percent.
In 2016 through September, GM has sold about 77,000 Cadillac
vehicles in China, up 35 percent, more than three times
Lincoln's sales.
Ford said it hopes its China sales will be boosted by a new
version of its flagship sedan, the Lincoln Continental, to go on
sale at Chinese dealerships in the fourth quarter.
(Reporting by Bernie Woodall in DETROIT and Jake Spring in
BEIJING; Editing by David Gregorio and Stephen Coates)
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