1922–1923
In financial trouble, Leland sold the company to Henry Ford February 4, 1922 for $8 million ($0 in dollars ), the amount determined by the judge presiding over the receivership Arthur J. Tuttle.[4][1] Henry Leland valued the company at over $16 million. After a few months the Lelands left the company because of Henry Ford's managerial style and his son, Edsel Ford, designed a new body for the L series. Edsel became president and Ernest C. Kanzler general manager. The L series was a robust car. In the first year, hydraulic shock absorbers were added.[1] Edsel and Kanzler implemented production economies, trimming manufacturing costs by about $1000 per car.
Aside from the extension of the wheelbase from 130 to 136 inches, the chassis of the Lincoln Model L saw few major changes; the 60-degree L-head V8 remained in production. The V8 used a novel approach for the piston connecting rods called Fork and Blade, which meant two connecting rods shared one bearing on the crankshaft, which allowed for a short crankshaft and a smaller overall engine size, while still displacing 357.8 cuin. The cylinders in both banks are also not offset from each other.
For 1923, several new body styles were introduced for the Model L under the direction of Edsel, including two and three-window four-door sedans, and a four-passenger phaeton. Other vehicles included a two-passenger roadster, and a $5,200 ($0 in dollars ) seven-passenger touring sedan and limousine. A sedan, limousine, cabriolet, and town car were also offered by coachbuilders LeBaron, Fleetwood, Judkins, Derham, Holbrook, Willoughby and Dietrich, and a second cabriolet was offered by coachbuilder Brunn. Vehicles built by these coachbuilders went for as much as $7,200; despite the relatively niche market segment, Lincoln sales rose about 45 percent to produce 7,875 cars and the company was operating at a profit by the end of 1923.
