Monday, August 29. 2005
Toyota puts Lexus to global test with Japan debut
Some bill it one of the biggest events in the auto industry this year.
Japan's Toyota Motor Corp. (7203.T: Quote, Profile, Research) -- already close to unseating General Motors Corp. (GM.N: Quote, Profile, Research) (GM.N: Quote, Profile, Research) as the world's No. 1 seller of automobiles -- will usher in the 16-year-old Lexus brand to its home market on Tuesday in what it says is a major step toward taking on top luxury marques everywhere else.
"(Lexus) has been in the United States for almost 20 years," Toyota President Katsuaki Watanabe told a news conference last month to unveil the GS, SC and IS cars -- the first Lexus models to be sold through 143 dealerships in Japan starting Aug. 30.
"It's now time to turn it into a globally accepted premium brand."
That's a tall order for a company primarily known for its reliable but run-of-the-mill mass-market vehicles.
For all its success in the U.S. market, the world's biggest for luxury cars, Lexus is a lightweight elsewhere: global sales of 359,000 units in 2004 pale in comparison to the 1 million-plus sold annually by both Mercedes-Benz (DCXGn.DE: Quote, Profile, Research) and BMW (BMWG.DE: Quote, Profile, Research). READ MORE...
Japan's Toyota Motor Corp. (7203.T: Quote, Profile, Research) -- already close to unseating General Motors Corp. (GM.N: Quote, Profile, Research) (GM.N: Quote, Profile, Research) as the world's No. 1 seller of automobiles -- will usher in the 16-year-old Lexus brand to its home market on Tuesday in what it says is a major step toward taking on top luxury marques everywhere else.
"(Lexus) has been in the United States for almost 20 years," Toyota President Katsuaki Watanabe told a news conference last month to unveil the GS, SC and IS cars -- the first Lexus models to be sold through 143 dealerships in Japan starting Aug. 30.
"It's now time to turn it into a globally accepted premium brand."
That's a tall order for a company primarily known for its reliable but run-of-the-mill mass-market vehicles.
For all its success in the U.S. market, the world's biggest for luxury cars, Lexus is a lightweight elsewhere: global sales of 359,000 units in 2004 pale in comparison to the 1 million-plus sold annually by both Mercedes-Benz (DCXGn.DE: Quote, Profile, Research) and BMW (BMWG.DE: Quote, Profile, Research). READ MORE...
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