The last 20 years saw the rise of luxury brands, including Lexus, Acura, BMW, Infiniti, Audi and Mercedes-Benz. Even Cadillac, once near death, was revived by edgy styling, improved driving dynamics and a rocking Led Zeppelin ad campaign.

But if you look at how far Lincoln has fallen, you’d think its ads must have been accompanied by music from Captain & Tennille.

The fact is the Ford needs to fix Lincoln; fix it or throw it in the bin alongside Mercury.

Enter the new MKZ concept, unveiled this morning. It looks modern and sharp, with coupelike styling and trendy-for-the-class four-passenger seating. (We hope it regains a fifth seat in production.) It is much larger than the old MKZ, promising a roomier, more luxurious experience. A panoramic glass roof and a well-finished interior befit its upscale purpose.

During its introductory press conference, Lincoln executives used the word “reinvent” was used three times…in the first five minutes.

The company knows the pressure is on, and it must act quickly if it has any hope of capturing a future (i.e. younger) audience.

How far behind is Lincoln? According to the Automotive News, BMW captured the luxury car crown for 2011, with sales 247,907 units. Mercedes-Benz was second with 245,192, followed by Lexus (198,552); Cadillac (152,389); Acura (123,299); Audi (117,561); Infiniti (98,461), and finally Lincoln (85,643).

The message being hammered again and again during the press conference, though, kept focusing on “personalized owner experiences,” implying that buying a luxury car from most brands has become as intimate as getting an appliance from a big box store. “The Lincoln experience” is going to be better, they said. But, to me, it almost sounded like the company was conceding that it didn’t have competitive products, so to sell cars, the dealers were simply going to be nicer.

Having a pleasant buying experience will help, but it still comes down to impressive hardware (and software). After all, it’s not like customer service lags at most other luxury-brand dealerships.

But will the MKZ Concept arrive in time to save a sinking ship?

The company has promised many more models will be rolling out through 2014, which will help pique customers’ interest and give the ad guys time to sign a music act to get the brand rolling.

The question, though, is will they get Barry Manilow or Foster the People?

Check out all our coverage of new cars in Detroit.