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MARKETS LIVE BLOG:

STOCKS SLIDE AFTER META'S REALITY CHECK, WITH GDP ON DECK

Owner of Facebook and Instagram plans to spend up to US$10B on AI infrastructure investments

Ford CEO: We're coming for China

Nicole Goodkind
·Nicole Goodkind

Ford Motors (F) unveiled its new Lincoln Continental concept this week at the New York International Auto Show. The luxury full-sized sedan will go into production next year. The revamped Lincoln follows last year’s new aluminum Ford F-150 truck.

Several attempts to revamp and retool the Lincoln have fallen short in past years, but Ford CEO Mark Fields says that he’s committed to making the Lincoln Continental a player in the “quiet luxury” market once more. Lincoln will spend $2.5 billion through 2019 in order to retool its plants. The eventual goal is to triple the car’s sales to 300,000 by 2020 with China playing a major role in sales.

[Get the Latest Market Data and News with the Yahoo Finance App]

Luxury cars make up only 11 to 13 percent of sales in the U.S. market and 6 percent in China but account for nearly one-third of profits.

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In the above video Bianna Golodryga, Yahoo news and finance anchor, joins Ford CEO Mark Fields at the show to take a personalized tour of Ford’s latest car and to discuss competitors like Tesla’s Elon Musk.

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