Gojirra99

February 28, 2006

Reuters /

GENEVA - Toyota Motor Corp expects sales in Europe of its premium Lexus brand to rise to 65,000 units by 2010 from around 45,000 this year, Toyota Motor Europe Executive Vice-President Takis Athanasopoulos told Reuters on Tuesday.

Toyota aims overall to sell more than 1 million vehicles in Europe in 2006 including Turkey, Athanasopoulos said.

European group sales including Lexus but excluding Turkey -- where the group had around 30,000 unit sales last year -- rose 5 percent in 2005 to 964,208 vehicles in a flat overall market, driven by demand for its Toyota Corolla and Corolla Verso.

Athanasopoulos said European sales of its Prius hybrid were set to advance to around 25,000 this year from 19,000 last year and 8,000 the year before, but could be higher if enough of the Japanese-made cars were made available to meet demand.

"Our sales plan is to increase to 25,000," he said at the Geneva car show, adding supply constraints were limiting the model's sales potential.

The up-market Lexus faces stiff competiion from established premium brands in Europe, but Toyota is determined to make it a success, Toyota President Katsuaki Watanabe told reporters in Geneva.

Lexus boosted its European sales by 16 percent to 28,777 units last year thanks to a seven-fold rise in deliveries of its revamped GS full-size model.

A hybrid version of the GS450 model comes out shortly.

Athanasopoulos said hybrid versions of the Lexus could account for up to 25 percent of the brand's European sales this year.

It launches its flagship LS460 version in Europe in September and follows up with a hybrid version of the model next year.

source : detnews

LexFather

Wow, up 16%, that is a big deal, especially considering the GS is very expensive. Its not like sales increased with a 1-series competitor.

Though, lol, Lexus sales r literally a drop in the bucket in Europe, compared to BMW, Audi and Benz.

GFerg

Wow...thats pretty awsome. And they just introduced the IS220d like a month and a half ago as well. Things are looking good in Europe as well.

Gojirra99

The vast majority of the German big 3's sales there are the low end models not available here & the diesel/small engine versions of the 3, 5, C, E etc. that's also not available here though. They have to offer more diesel or diesel hybrid versions of Lexus there in order to get closer . . .

Och

iTrader: (3)

But then the German Big 3 have to have these low end cars because they do not have non premium brands. Lexus is a premium only brand, and they have Toyota vehicles competing with low end models of the Big 3.

4TehNguyen

iTrader: (1)

uh oh LS600h coming out in 08, say good night BMW 760, MB S600

spwolf

yes. they "would" have to, but they dont have to.Notice how they said sales for 2005 were 29k and for 2006 they estimate 45k. Thats huge. Most likely due to new IS and IS220d.

Other than that, Lexus does not have enough dealers to do much more... so they are now building bigger dealer network in Europe to facilitate that growth.

Lexus will definetly have an advantage because when it comes to brand building, because it doesnt have low powered models. I am not sure how luxurious 116i is, when it is slower than Corolla. Or 520. Or 318d. Or A/B class, etc, etc. Eventually, it will be an advantage.

-J-P-L-

Yeah, many of their Taxicabs and even police cars are Benz's and Bimmers.

Over there, It's like a Crown Vic.

spwolf

In UK, 3 series outsell Mondeo, Vectra and Passat... Thats why, they predict that IS220d will hold value better than comparable BMW. So its already an advantage for Lexus.

LexFather

Unstuck, thanks

Richie

Good news, thanks for sharing!!!