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Lexus Sales Slip
Worldwide demand for Toyota Motor Corp.’s Lexus luxury brand shrank 4% to 305,200 units in the first half of 2017.
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Worldwide demand for Toyota Motor Corp.’s Lexus luxury brand shrank 4% to 305,200 units in the first half of 2017. It was the marque’s first such decline in six years.
Toyota blames declining demand for sedans in the U.S. and Japanese markets, where Lexus sales fell 10% and 23%, respectively. Deliveries in China climbed 30%.
Lexus is suffering from a model mix that contains too many sedans and not enough crossover vehicles. The company also lags rivals BMW and Mercedes-Benz in refreshing its cars.
Lexus now expects its global sales in 2017 will fall 4% to about 650,000 units.
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