Lexus Sales Rebounding in China

Posted by Kevin on June 28th, 2020

Lexus sales in China climbed 35.1% year-over-year in May, with 22,145 new vehicles sold. Electrified models made up 34% of sales.

Rebounding from a first quarter that saw sales dip 25%, Lexus China has now sold over 78,300 vehicles in the first five months of 2020. Last year, the brand set a record with 200,521 units sold.

China has become the most important market for the Lexus brand, with the country getting the exclusive LM minivan and serving as the launch market for the UX 300e EV.

[Source: Gasgoo]

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shizhi

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Although sales in China are back to normal, due to the impact of covid-19 on Japanese production, the future sales in China can not be fully optimistic.
 
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20-06-28-lexus-lm-china-sales.jpg

Lexus sales in China climbed 35.1% year-over-year in May, with 22,145 new vehicles sold. Electrified models made up 34% of sales.
Rebounding from a first quarter that saw sales dip 25%, Lexus China has now sold over 78,300 vehicles in the first five months of 2020. Last year, the brand set a record with 200,521 units sold.
China has become the most important market for the Lexus brand, with the country getting the exclusive LM minivan and serving as the launch market for the UX 300e EV.
[Source: Gasgoo]
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James

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I’m glad I always want Lexus to be successful wherever they are in the world but just concerned success outside North America will cause them not to make changes here where we desperately need new models engines and for the love of everything holy more Fs. Glad to here about China growth but they need to put attention here in US or they have a risk of being forgotten.
 
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James said:
I’m glad I always want Lexus to be successful wherever they are in the world but just concerned success outside North America will cause them not to make changes here where we desperately need new models engines and for the love of everything holy more Fs. Glad to here about China growth but they need to put attention here in US or they have a risk of being forgotten.
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Preach.
 
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shizhi

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June 22104（+21.1%）
Hev&Bev 9060（+45.4%）
YTD 95326（+1.6%）
Hev&Bev 35267（+10.9%）
annual target 210k+…
 
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spwolf

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shizhi said:
July 22325（+38.6%）
Hev&Bev 8804
YTD 117651（+7.02%）
Hev&Bev 44071（+17.47%）
Click to expand...

good comparo to USA market is here. If we take covid-19 out of equation, Lexus China will finish within 10% of Lexus USA numbers, and if we just take real numbers, China might very well become biggest Lexus market in the world in 2020.

Good for US is that traditionally, Chinese (and Russian) market is very similar to US in type of vehicles they like (large/r) compared to others, with difference being size of engines due to legislation.

Other main markets for Lexus - JDM and Europe (non Russia) are completely different, and actually similar to each other. For instance, for most Europeans, UX is midsized vehicle and Lexus is considerably more expensive than starting models from Audi/BMW/MB/Volvo

4202

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Lexus Sales Figures – U.S Market

Automotive Sales Data and Statistics
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ssun30

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They are matching targets despite the Coronavirus. The whole luxury market is down 23% Y2Y. That being said U.S. figures overtook again in July thanks to reopening.

Things have been disastrous for other Tier 2 luxury brands. In particular JLR now has an average discount of 50%, just the average. And they are still struggling to reduce inventory.
 
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shizhi

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GAC Toyota has not released accurate figures. Last month, their cumulative sales in China reached 5 million.The 5 million car is a Levin sport.

A8E624AD-2C97-4CA7-9C1D-CE102588B733.jpeg
 
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spwolf

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ssun30 said:
They are matching targets despite the Coronavirus. The whole luxury market is down 23% Y2Y. That being said U.S. figures overtook again in July thanks to reopening.

Things have been disastrous for other Tier 2 luxury brands. In particular JLR now has an average discount of 50%, just the average. And they are still struggling to reduce inventory.
Click to expand...

it is kind of same everywhere... in US it is "bad" for TMC since local production did not recover fully, but for Lexus, since it is mostly Japan produced, it is down only 6%.

Europe, they are also beating the market, and I see around >7% market share in reports, which is simply crazy.

Lots of new product relevant to the target markets, like Rav4, Corolla, etc.
 
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suxeL

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Where automakers are in the red, Toyota just reported a 1.5B profit this quarter. I assume that non-US markets where sales numbers have gone up and factories that remained open are leading the charge.
 
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suxeL said:
Where automakers are in the red, Toyota just reported a 1.5B profit this quarter. I assume that non-US markets where sales numbers have gone up and factories that remained open are leading the charge.
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So if they just reported 1.5B profit can we have a bloody new V8??? Clearly they have money! Anyway great quarter Toyota that is awesome.
 
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spwolf

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suxeL said:
Where automakers are in the red, Toyota just reported a 1.5B profit this quarter. I assume that non-US markets where sales numbers have gone up and factories that remained open are leading the charge.
Click to expand...

that profit is down a lot, still :)
 
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ssun30

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UX remains weak. Just 840 regular models and 375 EVs. Same goes for the NX which has been slumping since last year. They need to reconsider their pricing structure.

IMO in order to properly prop up their SUV sales they have to axe the ES200. There is too much cannabalization at their low end caused by one model and the 200 is too low margin. The sedan vs. SUV choice is not as obvious as in U.S. so a full size sedan at such low price makes smaller SUVs much harder to sell.
 
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