If there is one car brand that I do not understand it’s Lincoln. I love a Navigator and enjoyed the Nautilus when I drove one last year. Arguably, Lincoln doesn’t make a bad car. The brand, though, only competes in extremely crowded segments, which is why it’s a bit of a surprise to me that the Lincoln brand is kinda killing it right now from a loyalty perspective.
S&P Global is out with its 2024 awards for customer loyalty, and there are the usual players, including Tesla, but there’s also a hell of a lot of Lincolns. If you buy a Lincoln, you apparently never stop buying Lincolns. By comparison, Infiniti plays in mostly the same segments and it’s getting destroyed, which might explain the push to get Nissan’s CEO shoved into the nearest crate.
No one is planning to excommunicate GM’s Mary Barra, especially as the company agrees to more dividends. The strategy keeps working, but I don’t love it. Maybe my way of thinking is why I’m writing The Morning Dump and not, say, flying on a private jet to Florida this weekend to spend ungodly amounts of money on a vintage Porsche.
The Lincoln Corsair Is The Model With The Most Owner Loyalty
Do I need to borrow a Lincoln Corsair? Is the Lincoln Cosair… Good? I’m trying to drive more cars in order to better understand the market and keep you, dear readers, up-to-date with what’s going on in the world. I did drive the Lincoln Nautilus and thought it was nice.
Would I buy one over a Porsche Cayenne or a Genesis GV80? Probably not. I’d probably get the GV80, although the Nautilus is about $5,000 cheaper. The logic of a luxury automobile that’s nice and also quite affordable is appealing. The word “affordable” doesn’t come up enough these days. It’s the same with the Corsair. I’d be tempted to buy a Macan, but a Macan costs a lot more.
It turns out that people who own Lincolns either really love the experience or are unaware other cars exist, because S&P Global named the Nautilus and the Corsair the cars in each class with the most loyal buyers. Even more impressively, according to registration data, no single car had more return customers than the Lincoln Corsair last year.
Most of this list is entirely sensible. The most loyal make is Tesla, because up until recently, there weren’t a lot of good reasons to buy something else if you already owned one. General Motors is the most loyal overall manufacturer, which is somewhat interesting. In certain categories, there are vehicles that pretty much always win.
If you want a Porsche 911, there’s no other sports car you can buy than a 911. Similarly, there’s no Range Rover like a Range Rover. I do think cost is a factor here, as the most popular passenger car for return buyers is the Nissan Sentra, which is affordable and reasonably nice. That does, also, perhaps go to explain Lincoln’s success.
The brand also had a great 2024, relatively speaking, from a sales perspective. Lincoln’s sales were up 28% year-over-year for its best performance since you could see a reverse-aging Brad Pitt in the movie theaters. I presume discounting and just an abundance of cars maybe had something to do with it as well. Just because you’re selling more cars doesn’t mean you’re selling more of them profitably.
Also, Lincoln is at risk from tariffs now that its most popular model is built in China. As noted by Automotive News earlier this year when writing about a meeting between execs and dealers:
A dealer who attended the meeting said executives acknowledged that tariffs pose a “significant risk” to the brand because of its limited lineup and that a government affairs committee is working with retailers to address the challenges tariffs might pose.
The dealer said executives also promised to better manage inventory after it rose more than expected last year and promised dealers additional floorplan support in the coming months.
Other than Raylan Givens, the average Lincoln owner has historically been older than the market as a whole, and that almost certainly contributes to the numbers. A new Navigator is probably only going to help things and maybe, just maybe, unseat the Range Rover.
Nissan Is Reportedly Trying To Push Out Its CEO, Or Maybe It Isn’t
Nissan CEO is the worst job in all of the automotive universe. If you’re not getting arrested at the behest of your subordinates, you’re dealing with your competitor telling you your company is worthless, and that doesn’t even include having to kowtow to your French shareholders.
Somehow, people actually want this gig, or at least Nissan’s Board of Directors is maybe trying to find someone willing to give it a shot. Here’s what Bloomberg is saying:
Nissan directors are gauging interest in potential candidates to replace Uchida, the 22-year company veteran who has been CEO since late 2019, Bloomberg reported, citing people familiar with the matter.
Other sources told Reuters that Uchida is likely to hang on to his job.
Nissan is due to announce the management streamlining on March 12 but Uchida is not expected to resign as part of the announcement, the sources said.
I feel like getting fired by Nissan without having to, like, go to prison is the best outcome a CEO of Nissan can hope for.
GM Agrees To Hand Out More Dividends
If you’re a shareholder of General Motors then you, too, could be a beneficiary of increased dividends and a planned share buyback.
General Motors’ board approved increasing its stock dividend by 3 cents to 15 cents a share, the company said Wednesday in a filing with the U.S. Securities and Exchange Commission, a sign of confidence despite growing threats from federal policy that could impact the auto industry this year.
This is the first time GM has said it planned to raise its stock dividend since late 2023.
“We feel confident in our business plan, our balance sheet remains strong, and we will be agile if we need to respond to changes in public policy,” Paul Jacobson, executive vice president and CFO, said in the statement. “The repurchase authorization our board approved continues a commitment to our capital allocation policy.”
I have been down this road before, so I’ll spare you the details, but this isn’t my favorite thing GM is doing. Sharing excess profits back with shareholders is a good thing, both for rewarding your investors and for maintaining your share price. Dividends are not, on their face, bad. I just think the automotive market is in for a long period of uncertainty, and it would make more sense to reinvest that money in the company.
Old Porsches Are The New Old Ferraris
One of the cool things about being partnered with Beau, other than he gets the references that David does not, is that he’s active in the auction scene, which gives us access to it. Over the years of attending auctions, it’s become obvious that older Porsches are steadily increasing in value.
There’s a comprehensive story on this from our pal Hannah Elliott in Bloomberg that’s worth a read if you follow these things:
This month, as car enthusiasts converge on Florida for two weeks, they’ll find 14 Porsches with estimates straddling the $1 million mark—two more than the dozen Ferraris with the same distinction and far more than any other brand among the 405 total lots being offered across three auction houses. Million-dollar Porsches are creeping into the elite pricing echelon that Ferraris once dominated at significant auctions around the globe.
The increase reflects collectors’ desires and financial ability to build significant collections around one favored brand, says Steve Serio, a Boston-based automotive broker to billionaires. Porsches have always been valuable—they just haven’t been as desirable as multimillion-dollar Ferrari GTOs, LMs and Testarossas. But Porsche is inching closer as an increasing number of buyers amass collections around the historic marque.
I remember when Porsche 912s were like $16k all day and I was not smart enough to buy one. Instead, I bought a Merkur. Never take my advice about anything, is what I’m saying.
What I’m Listening To While Writing TMD
Roberta Flack passed away recently and it would be a shame if we didn’t recognize her, so here’s Roberta doing “Killing Me Softly With His Song.” RIP to a legend.
The Big Question
What’s your theory on Lincoln buyers?
Top photo: BaT/Justified
I am a Mopar guy at heart, but I stumbled into a (dirt cheap) 98 Continental. I like it so much, I think my next car will be the new Continental (2017+).
My wife bought her first Lincoln at 27, we had a newborn and her beloved H3 was nearing 200,000 miles and starting to show it’s age. She looked at a few other cars but as soon as she drove the Lincoln she was sold. It’s a 2016 MKX 2.7tt. I wasn’t thrilled at first, “oh yay a midsize crossover” but I’ve grown to love it too. It does it’s job so well, put the suspension in comfort mode, turn on the seat massagers, and just drive. It’s not sporty, but it doesn’t need to be. That’s what makes it great.
She will be ready for a new car in a couple years, and I already know it’ll be another Lincoln.
While it isn’t new, I recently bought a 2018 Lincoln Continental. I was looking for quite and comfortable. I’m of the opinion that the majority of other buyers of Lincoln’s are interested in the same things.
After looking at it for a while now, I believe it has a sophisticated look to it. Not gaudy or trying to hard. Not ugly or underwhelming. Just enough to be classy.
As the resident Lincoln owner (2017 Continental Reserve) I figured I’d chime in. Although I Don’t know how much my opinion matters because I bought the car used.
I’m brand agnostic, previous daily drivers were an 01 Audi S8, Ford Fiesta ST, 01 BMW 740IL, E39 BMW 528it wagon, and so on. I’m a fan of big 4 door sedans and wanted another one. Having busted my knuckles on many German cars I wanted something easier to maintain. Having busted my butt many times on our crappy roads with sporty cars and their stiff suspensions I also wanted something more comfortable. We already have a 2018 accord (2.0T, 6 speed). The continental was an attractive option since it looks nice, has an interior that is better looking (if not necessarily better built) than the competition. Also it has 400 hp and was priced around $21k which is a good deal for the money. I wrote a whole article on it a few months back.
Unfortunately there are some small very annoying issues I’ve been dealing with that I’ll write up soon. Overall the car has been great but I’ll be selling it in the next few months.
The interiors of the new Lincoln’s are very attractive. Most German cars are needlessly complex and unreliable ( I know this from experience). Lexuses are very nice but on the sporty side. Most people aren’t pretending to be racecar drivers on their commutes and just want a comfortable nice place to be. Lincoln’s do this well for the $$.
Henry Leland staked his reputation on cars that were quality built, and gracefully stylish, though not in a way that screamed “Look at my expensive car”.
While Ford platforms are the basis for Lincoln vehicles, Ford also has finally seemed to understand what sets Lincoln apart – build quality and a look and feel that is understated, but luxurious.
Took them long enough, but with brands like Genesis coming along, they didn’t have much choice if they wanted to remain in the luxury market. Genesis has its faults (dealership experience is a big one in a lot of markets). But they also showed that a manufacturer can share a platform with a lower line if it provides what a luxury consumer expects in fit, finish, and feel.
Lincoln buyers seem to be more interested in creature comforts vs overwrought styling, in quality of ride and comfort vs loads of tech. That’s good. I think the US auto industry is better for a healthy Lincoln and Cadillac, as they help drive innovation in different ways.
Raylan Givens driving a Lincoln as a young guy was always so cool to me. So, I ended up buying a used Lexus LS460 as a young guy, heh heh heh. What a car.
A 1983 Lincoln Mark VI Signature Edition four door sedan was around when I was a kid. The Lincoln was not a looker, in fact we called it the Mark VI Ridiculous Edition. However, it was very comfortable and surprisingly well put together compared to contemporary Cadillacs. Only issue was at 75mph the front end would get veeerrrry light. 80mph was legit scary. I guess when the speed limit was 55 they didn’t do a lot of high speed testing.
I sort of wanted a last-gen Town Car while watching a few seasons of Justifed. After all, what lawman (or civilian) doesn’t want to be comfortable when travelling to and from gunfights? Or In’n’Out Burger? Having watched a few ‘life-with-a-Lincoln’ videos on Youtube in the years since, I’ve pretty much disabused myself of that notion. Not because of cost to aquire/operate a Town Car (they’re cheap in both regards) but I just felt like the novelty would wear off and then I’d be bored.
Lately, I’ve managed to watch ALMOST enough ‘cost-of-ownership’ videos on air-cooled 911s (say, mid-80sish, but even up to the 996s) and barring a fiasco, most folks seem to feel that a yearly expense of $4-6K is normal/to be expected. That’s parts/repairs/maintenance, not fuel/registration/insurance/etc… So, I feel like I can live w/o that experience too now, not that I was itching to drop $45-55K (or maybe $30K for a 996?) on a 911 anyway.
I did walk past a sun-baked metallic blue Honda Element while walking the dog earlier, and STILL sort of want to own one of those, but their MPG is only marginally better than what I get in my 20-year-old Volvo SUV and the Volvo (which is already paid for) is undoubtedly more comfortable and probably safer too.
I don’t NEED another car by any stretch of the imagination… I barely drive the two that I have. Still, the urge to try something else is always very powerful. 1960s/early 70s Volvo 122/123 S/GT are forever tempting, and for that matter a 5+ year old Mazda CX-30, CX-5, or maybe even CX-9 would all probably have me smiling.
Hi, I have owned a Lincoln for many many years, I would whole heartedly promote with a passion the Lincoln brand. Until now. Corsair, I purchased the 2020 model. Worst decision I have made in my auto buying life.
I am putting together a complete report from A to Z. I can almost say it has been in the shop ( absolutely no problems ever with Lincoln care and service) more than been driven. The Corsair has almost been completely rebuilt. From a new engine to complete requiring. In Canada we have no Lemon Law. Actually never thought I would have to worry with Lincoln. Not so. They just keep on trying to fix it until the warranty is up I am sure. Glad I purchased extended warranty. Nevertheless I would rather a running vehicle any day over this nightmare.
I think the previous generation Navigator looks fucking fantastic – bold, assertive and American. The new one slightly leans into a more stripped back, Range Rover look which I understand (because Range Rovers look fucking fantastic) but I do wish they’d kept doing their own thing, chrome et al.
Really? I find Range Rovers hideous from behind with their silly vestigial taillights.
Not everyone has taste.
Adrian, you may be Goth, but your writing betrays your Ninja underpinnings. To wit:
Utters four words, skewers taillight argument, and vanished before the body hits the floor.
Based on how some of us choose to dress in middle age, I’ll have to agree.
But seriously, I was hoping you’d actually say why you think I’m wrong, but I suppose I should have known better.
I distinctly remember the first time I heard “Killing Me Softly…” and the powerful impression her voice made. I lived in Chicago’s western suburbs listening late in the evening to WHAM-AM radio, broadcasting out of Rochester NY. Now I live in southern Indiana within commuting distance of Ford’s Louisville assembly plants. I think the Ford workforce is responsible for the prevalence of Lincolns in the area’s driveways.
Lincoln is a brand that I forget exists until I travel back to Michigan to visit family. I can go days here on the West coast without seeing a Lincoln. The are rare enough there is a novelty to it.
Lincoln Corsair and Nautilus seem pretty popular with Uber black drivers, so I’m sure that plays a role in the frequent repurchasing due to age of car limits and mileage.
My doctor told me I had a catarac, but I informed him I had a rinkin.
Ugh. That took me a second and it really shouldn’t have.
God we need to be able to post memes here.
https://tenor.com/view/zoidberg-joke-is-bad-you-should-feel-bad-futurama-gif-9222911
Lincoln buyers just want a cushy, comfy car to drive around. These days most “luxury” cars are defined by how sporty they are. I do love a sporty car, but sometimes you just want a cruiser.
Carlos Ghosn, pictured above being smuggled out of the country
My uncle would buy a new Lincoln Continental every 5 years. This was back in the 70s/80s and he didn’t really make that much money. But that was his assurance that he was somebody.
My neighbor has had 3 Lincoln crossovers (I couldn’t even tell you which one other than it’s currently either a Nautilus or a Corsair) in a row now (she had a Lincoln sedan before that). She claimed to not have any money to fix her fence (her aggressive dog kept getting out) despite getting a new car every 2 years or so.
Priorities hmmm
Right?!
Some who own expensive cars believe people will think they’re rich and should be envious. Having money and spending money are two different things that some confuse, including some who own very expensive cars.
Maybe they’re company-subsidized cars. Not everybody is an ass.
She’s retired.
Then maybe she’s an ass!
I just bought my second Lincoln to replace my wife’s Toyota and she loves it because it is quiet, rides well, has great seats, has just enough technology to be useful but not intrusive and looks good without a big ugly snout like a BMW, Lexus or Mercedes. The inside of a Lincoln–especially one of the top trim levels–is a really nice place to be.
My experiences with Lincolns are limited, but they are focusing on comfort and ride in an era where that doesn’t seem to be a major focus in other luxury brands. Given the state of roads, I think a ride that diminishes the impact from bad pavement helps. I can’t buy one new, but have driven some used and it’s nice. Good deals to be had at times as well. Haven’t heard many bad dealer experiences either.