Lexus Europe Hopes to Triple Sales by 2010
According to Karl Schlicht, Head of Lexus Europe, Lexus is experiencing great success in Russia and hopes to increase their European sales three-fold by 2010:
“If things continue as they are, by 2010 we will have doubled our Russian sales volume, which is currently at 17,000,” said Karl Schlicht, chief for Europe for the brand in remarks to the magazine Automobil Produktion.
He forecast Europe-wide sales of 56,000 Lexus cars this year, with the target in later years pegged at 150,000.
The Japanese-based group believes growth will mainly come from buyer interest in its hybrid engine option.
A fairly substantial jump, but still only a fraction of volume sold by their Europe-based competitors. For the sake of comparison, even if Lexus sales were to increase by 150,000 every year, it would take until 2013 to match BMW’s 2006 European sales figures. And yet, if Lexus can keep up its rate of growth (2005: 10,265 / 2006: 36,662 / 2007: 56,000), it’s conceivable that they could reach equal footing sometime before 2020.
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Wow, that’s indeed news out of Lexus Europe. Previously they have said “Lexus will remain a niche brand in Europe” and will never match the sales of domestic luxury brands. Just recently one exec admitted that Lexus Germany sales were struggling. However the growth rates in recent years have been promising, particularly with the hybrids, although perhaps that will mature into even more efficient technologies.
Anyhow, growth out of Russia is indeed major, and an Eastern European strategy may pay off dividends.
It’s definitely a longterm project for Lexus, and a stark contrast to their immediate emergence in North America, but there’s little doubt in my mind it will be an eventual success.
Hope this works out for them