The July 2008 numbers for Lexus USA are in:
| 2008 | 2007 | % Change | |
| IS250/350/F | 4,750 | 4,892 | -10.4 |
| ES350 | 5,563 | 6,909 | -25.7 |
| GS350/460/450h | 1,297 | 1,954 | -38.7 |
| SC430 | 143 | 304 | -56.6 |
| LS460/600h L | 1,466 | 2,696 | -49.8 |
| Total Cars | 13,219 | 16,755 | -27.2 |
| RX350/400h | 7,101 | 8,413 | -22.1 |
| GX470 | 1,019 | 1,767 | -46.8 |
| LX570 | 843 | 206 | 277.7 |
| Total Trucks | 8,963 | 10,386 | -20.3 |
| Total Sales | 22,182 | 27,141 | -24.6 |
The LX 570 is shining like a single star in the sky, moving a staggering 843 units. Everything else, as you can see, is down — and significantly. Why is Lexus being hit so hard by the market slowdown? Two reasons jump out at me:
- Generally speaking, Lexus owners tend to be conservative, and in a recession are more likely to hold off on any big purchases.
- Lexus just isn’t pushing the same level of incentives. For their summer sales event, dealers are offering 2.9% APR financing. Compare that to BMW, who are offering 0.9% APR financing. Big difference there.
Combine these points with a lack of new models, and the numbers start to make sense. (Still, 40%+ drops are never pretty.)