Lexus had a tough year in the United Kingdom, with 2022 sales down 31% and its market position plummeting below even Jaguar & Porsche. It was even worse across Europe — from Autocar:
Lexus sales to the end of November in the UK reached just 9034, down 31% to put it behind even beleaguered Jaguar, according to UK automotive lobby group the SMMT. Even in its best year, 2019, it only sold 15,713.
Despite those small numbers, the UK’s still a relatively big market for Lexus compared to the rest of Europe. The brand sold 30,265 to the end of October across the region, down 27%. according to the SMMT equivalent for Europe, ACEA.
The discontinuation of sales in Russia can account for most of Europe’s drop, but supply is also a major culprit — Europe would struggle to divert inventory from bigger markets like the USA and China. The lack of vehicles is evidenced most clearly by the announcement that the entire 2023 NX allotment is already sold.
That Toyota is persisting with Lexus in Europe is a compliment really, given how little it needs us. The brand notched up an impressive 760,012 sales globally in 2021, dominated by the US (332,000) and China (227,000). Europe, including the UK, for the same period was just 47,604.
Discussion