China Daily has new information on how Lexus is performing in China:
Lexus sold 67,224 units from January to August this year, an average increase of 35.7 percent year-on-year. In August alone, Lexus China increased sales by 70 percent year-on-year, the best growth rate in the luxury market.
“We are exerting ourselves during the following months this year, to accomplish the 100,000-unit objective set for this year,” said Tetsuya Ezumi, executive vice-president of Lexus China.
Last year the carmaker took a dominant position in the country’s hybrid luxury segment, with almost 80 percent of sales. Hybrid models contributed 20,991-unit sales, or 24 percent, to Lexus China’s total sales volume in 2015.
Lexus now has 161 dealerships in China, and will grow that number to 165 by the end of the year. The brand is also adopting an unusual strategy — where most luxury car dealerships in China have 10 weeks of inventory on hand, Lexus dealerships only have two weeks.
Also mentioned in the China Daily article is news that Lexus will be reworking its global marketing strategy:
Lexus is about to roll out a refreshed brand strategy in 2017, in which it will lead the world through a unique operational principle and a highly attractive product lineup, Tetsuya said.
“The Lexus brand will enter a completely new chapter next year, not only in China but also in the rest of the world, with its designs undergoing tremendous changes. As a luxury brand from the East, Lexus has unique charm and appeal, and the essence of the brand is balance.”
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