Although the concept vehicle had a positive public reception, the production Blackwood fell far under sales projections in the United States and Mexico.

[2][3] Named the "ultimate utility vehicle" by Ford, the Blackwood was intended to combine the utility of a truck-based vehicle (such as the Navigator or an F-150) with the comfort of a sedan (such as the Town Car), replacing the F-Series pickup bed with an enclosed cargo area bodied with black African wenge wood (adopting a styling element of wood-bodied station wagons).

[3][4] To produce the cargo bed at a realistic cost, the 20 square feet (2 m2) of expensive wood was replaced by screened laminate composite panels (the inlaid aluminum strakes remained).

[4] Intended to enter production in early 2001, sales of the Blackwood were delayed several months by supply problems related to the cargo box (produced by Magna Steyr).

[5][9] In its namesake design feature, the exterior of the cargo bed was styled with imitation black African wengewood with aluminum-strake inlays (making it the first "woodie" Ford Motor Company vehicle since the LTD Country Squire and Colony Park station wagons, discontinued in 1991).

[7][6] In another major design change, the rear cargo bed was repurposed as a watertight trunk,[9] adopting a permanently-mounted tonneau cover (power-operated), opening above a 50/50 hinged door (replacing a tailgate).

The interior of the Blackwood cargo area was fully carpeted, lined in polished aluminum, and lit with LED lighting.

The model line was equipped with nearly every available Lincoln feature standard, including a sunroof, premium sound system (cassette player in dashboard with CD changer in front console[4]), and multi-zone automatic climate control.

Naming the Blackwood one of "The 20 Dumbest Cars of All Time", Autoblog stated, "Ford CEO Jacques Nasser and his luxury brand chief Wolfgang Reitzle thought it was a great idea: a luxury Lincoln branded pickup truck with a trunk instead of a flat bed and pin-stripe painting to mimic a business suit.

"[12] Car and Driver named it one of the worst flops of the past 25 years, saying, "Check out the cargo box: It's lined in carpet and gen-yoo-wine stainless steel.

Except they stripped out every ounce of actual utility from the vehicle, save for towing, by making it a RWD-only pickup with an Aluminum lined, carpeted, power tonneau'd bed.

"[14] Although the Blackwood's RWD-only configuration limited off-road utility, air suspension and a Crown Victoria cop-car steering rack gave good handling and a ride that more akin to a car than a truck.

While massively outsold by its Ford counterpart, the Mark LT proved more successful than its predecessor, nearly matching the Escalade EXT in sales.

After the 2008 model year, Ford ended sales of the Mark LT in United States, effectively replaced by the Platinum and Limited trims, added to both the F-150 and Super Duty versions of the F-Series.