Toyota has a “good chance” of selling a record number of luxury Lexus vehicles this year, Mark Templin, executive vice president of Lexus International, told Reuters. With a weaker yen, those mostly made-in-Japan cars might actually turn a profit.
Lexus makes more than 80 percent of its vehicles in Japan, and then exports nearly 90 percent of these cars. Toyota sold a record 518,200 Lexus vehicles worldwide in 2007, and Mark Templin wants to beat that.
Meanwhile in China, Lexus will hold-off shifting any production there despite rivals’ drive for bigger slices of its fast-growing premium segment, Templin told the Wall Street Journal.
Lexus was the top selling luxury brand in the United States until 2011, when a huge earthquake and tsunami in Japan affected production. Lexus already dropped off the Radar screen of Bloomberg, which made it its mission to track who sells the mostest “luxury” cars.