Growth Brings Lexus Closer to Peak Profit
Ah, yes. Money. Lexus knows what it's like to be swimming in the stuff.
Well, at least they will soon. According to Lexus' U.S. general manager, Jeff Bracken, the company has grown 15% in the first quarter of the year. If things continue at this rate, they'll exceed their goals of sell 290,000 cars this year. They set their record in 2007 with 329,177 sales. "We're not there, but we are certainly moving quickly toward the profit success we had in the past," Bracken said. "The currency exchange is in our favor, and our volume is likely going to be back over 300,000 this year."
Lexus might not best that record this year, but sales don't tell the whole story of success. You have to look at another number: 102.44
The dollar is currently trading a 102.44 yen, which is a 4.2% drop from last year. What that means for Lexus--and Toyota on the whole--is that selling cars in America is more profitable than it was last year. Now, consider how well their refreshed models have been selling, as well as the introduction of the RC and the NX...