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Ford to spend $1bn to revamp Lincoln

US carmaker Ford is planning to spend $1b to develop a new generation of vehicles for its struggling Lincoln brand, the Wall Street Journal has reported citing dealers briefed on the plan. The company plans seven all-new or significantly upgraded vehicles that Lincoln will roll out over the next four years. Ford expects Lincoln sales to fall to 78,000 vehicles this year, and then climb to 162,000 in 2015, with the seven new models providing a lift.