Complex sentence: In 1988, the Lynx was replaced with the first Mercury since the 1978 Capri with no US-market Ford equivalent; the Tracer was a Ford Laser designed by Mazda, assembled in Mexico and Japan.
Split into simpler sentences: In 1988, the Lynx was replaced with the first Mercury since the 1977 Capri not to be badged as a U.S.-market Ford. The Tracer was a Ford Laser designed by Mazda and built in Mexico and Japan.