Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.