Lincoln will introduce a large luxury sedan by the end of 2016, as well as an additional SUV in 2015 to fuel Ford's global growth goals, the company has announced.

Lincoln is ramping up its refresh this year with the introduction of the MKC compact SUV, which went on sale in the spring. Next year, Lincoln plans to launch the MKX mid-size SUV. The full-size sedan will follow "soon after," joining the MKZ full-size sedan in Lincoln's luxury sedan lineup.

Additionally, Lincoln will add two new entries to its lineup by 2020 to offer customers "a wider range of luxury offerings." Lincoln is eyeing China for long-term sales growth and plans to triple growth in that country by 2020. Lincoln hopes to sell 300,000 vehicles a year in that country by 2020. Lincoln will offer the MKZ in China this year for the first time; the vehicle has been sold in North America since the 2009-MY.

Lincoln discontinued its Town Car large premium sedan in 2011 after eliminating the "E" platform that was also the basis for the Ford Crown Victoria.

Lincoln's announcement is setting up increased competition in the luxury sedan segment, as Cadillac announced it would reenter the full-size sedan market with the CT6, which will go into production in late 2015.