Ford Motor Company executives know how long it will take -- and the billions it will cost -- to turn Lincoln into a competitive luxury brand.

    And they know that offering three "Black Label" ultra-luxury versions of today's Lincoln models with premium materials is a Band-Aid, a first small step on a very long road.

    But Ford (F) is counting on Black Label to buy it some time and to improve dealer profits until the automaker is prepared to commit to a thorough revamping with new models and brand building. The initiative was announced last week at the Concourse d'Elegance in Pebble Beach, Calif.

    The only Detroit automaker that escaped the last recession without declaring bankruptcy, Ford said it intends to increase its capital spending through mid-decade -- which could mean an accelerated makeover for Lincoln, including new models and expansion into overseas markets.

    "Ford is way behind its competition in transforming Lincoln, so it is trying to do what it can to enhance profits and boost sales as it revamps the entire line, which is going to take several years," said Michelle Krebs, an analyst for Edmunds.com in an email. "The jury is very much out on whether Ford will be successful at this Lincoln transformation."

    General Motors' (GM) Cadillac luxury division, which was surpassed by Lexus (TM) and German automakers Audi, BMW, and Mercedes-Benz, began a decade ago to offer new models like the CTS. Cadillac, with several new models since, is on the upswing, its sales this year reaching nearly 70,000, up 39% from the previous year.

    Lincoln's revitalization is in its infancy, and it has so far sold only 30,819 vehicles in 2013, down more than 10% from the same period last year. For now, Black Label denotes three fancier design themes for the vehicle's interior: Modern Heritage, Indulgence, and Center Stage, featuring special colors and materials.

    Ford said Black Label customers will also receive dedicated, personalized service when shopping for Lincoln vehicles and scheduling service; the price hasn't been disclosed. Ralph Lauren (RL) and American Express (AXP) are among the U.S. companies that have used a "black label" theme to create a higher-level brand within a brand.

    Ford was fortunate in 2006 when it decided to mortgage itself to raise the capital it needed to build new models. When credit markets froze two years later, GM and Chrysler were caught short of cash and unable to borrow. Both companies filed for Chapter 11 reorganization under the direction of the U.S. Treasury.

    A weakened Ford struggled, too, only recently regaining investment-grade rating for its securities. Now, the company can raise capital at competitive interest rates.

    到底需要花上多长时间和金钱，才能将林肯（Lincoln）重新塑造成为一个具有竞争力的奢侈品牌？福特汽车公司（Ford Motor Company）的高管们心里清楚得很。

    他们也知道，如今推出用料上乘的三款林肯“黑标”（Black Label）超豪华轿车不过只是权宜之计，只是这条漫长道路上的一小步罢了。

    但是福特也期望，直到自己准备好用全新车型来一次彻底的品牌重建之前，黑标能为福特赢得一些时间，同时增加经销商的利润。他们最近在加利福尼亚的圆石滩汽车巡展（Concourse d'Elegance in Pebble Beach）上发布了这款概念车型。

    作为唯一在上次大萧条中幸免于破产的底特律汽车制造商，福特表示打算在21世纪第二个十年的中期增加资本投资——这可能意味着林肯的加速变革，包括全新的汽车款式和在海外市场的扩张。

    专业汽车网站Edmunds.com的分析师米歇尔•克雷布斯在一封邮件中称：“福特已经在林肯变革的竞争中落在了后头，因此它正试图全力重建整个生产线，同时提高利润，促进销量。这需要花费几年时间。福特是否能在林肯的转型中取得成功还有待进一步观察。”

    通用汽车公司（General Motors）的奢侈品牌凯迪拉克（Cadillac）曾经被雷克萨斯（Lexus）和德国汽车制造商奥迪（Audi）、宝马（BMW）和梅赛德斯-奔驰（Mercedes-Benz）超越，它十年前开始推出CTS等新车型。自那以后，凯迪拉克便持续走高，今年销量已经达到近7万辆，比去年增长了39%。

    而林肯的复苏尚处于初始阶段，2013年目前为止仅售出了30,819辆，与去年同期相比降幅超过10%。至今为止，黑标展示了汽车内部的三种设计概念主题：现代派、尊享派、中央操控派，分别采用了具有鲜明特色的颜色和材质。

    福特表示，黑标的顾客在购买林肯汽车和安排日程时还享有专门的定制服务，但它价格目前尚未公布。拉夫•劳伦（Ralph Lauren）和美国运通（American Express）等美国公司也已经使用“黑标”主题来建立自身品牌内部的高端品牌。

    福特幸运地在2006年决定抵押自身资产以筹得开发新车型所需的资金。两年后，信贷市场冻结，通用和克莱斯勒（Chrysler）于是遭遇了资金困境，无法实现借贷。这两家公司都在美国财政部的指导下，根据联邦破产法第11章申请了重组。

    虚弱的福特也在苦苦挣扎，他的股票最近才重新获得投资信誉评级。如今，这家公司能够以具有竞争力的利率来筹集资金了。

    Ford CFO Bob Shanks announced a week ago that he is "comfortable with the present liquidity," with more than $25 billion in cash at the end of the second quarter. Ford aims to maintain investment-grade status through a down cycle in the industry.

    Fixing a luxury car brand or building one from scratch is notoriously costly, measured in multiple billions of dollars. Jim Farley, Ford's chief marketing officer, has said the process could take 25 years.

    But any automaker that fails to maintain or operate a luxury brand will sentence itself to a permanent financial disadvantage. Luxury vehicles generate disproportionate profits, which can be used to expand markets or support the development of new vehicles and technologies.

    The brain trust at Ford doesn't have to look far to see how much GM has accomplished in its move to fix Cadillac. And with its bank accounts on the mend, the automaker soon could be taking its own series of bold actions to bring Lincoln back.

    福特首席财务官鲍勃•尚克斯上周表示，他“对目前的资金流动表示满意”。第二季度结束时，福特拥有超过250亿美元的现金。

    众所周知，重建或白手起家创立一个奢侈汽车品牌的代价高昂，花费将以数十亿计。福特首席市场官吉姆•法雷表示，实现这个过程需要花上25年的时间。

    不过，无法维持或运转奢侈品牌的汽车制造商一致认为自己会在经济上处于不利地位。奢侈汽车能够获取不成比例的极大利润，可以用来扩张市场、支持新型汽车和技术的研发。

    福特的智囊团不难发现通用在重建凯迪拉克之举中获益了多少。福特这家汽车制造商的银行账户状况已经开始好转，很快就将采取一系列大胆的举措，将林肯重新带回汽车界的舞台。（财富中文网）

    译者：严匡正