Gojirra99

2 October 2006

The Nihon Keizai Shimbun reports that Toyota Motor plans to double the number of hybrid Lexus models offered over the next six or seven years and spend some ¥30 billion (US$255 million) renovating existing dealerships and building new ones.

The company aims to boost the ratio of Lexus hybrids sold in Europe from 27% of total Lexus sales at present to nearly 50% by the early 2010s, targeting annual sales of 100,000 units.

Lexus sold around 24,000 units in Europe in 2005, and is projecting annual sales this year of 48,000, following the introduction of the IS sedan there. Two of the four Lexus models currently marketed there are hybrids, and two or three more will be added by the beginning of the next decade.

Toyota expects the flagship LS 600h hybrid (earlier post) to account for 70% of European LS sales.

source : http://www.greencarcongress.com/2006..._hopes_to.html

LexFather

Risky, very risky, Euro loves their diesals. However, hybrids offer a viable alternative and run much cleaner. Europe also taxes cars on cleanliness so this works to Lexus advantage.

Wow 50% of sales to be hybrids? That is good news for hybrid lovers as it means they will continue to invest tons in R&D to make better hybrids.

xioix

Wow, 70% LS600h sales for LS models

MSMLexIS

Why not the LS600hl is faster and more advanced than the regular LS and still has the benefit of better gas mileage this will be more appealing to speed crazed euro owners who want s600 performance with s500 taxes and s350 fuel mileage.

PhilipMSPT

iTrader: (5)

It may be due to the European ideology that luxury flagship sedan = V12 power.

I mean, if you're gonna be a balla on a 100+ Euro car, might as well make a statement.

Lexmex

Like Europe, Same exact issue in Mexico, where we have a lot of European models not seen in the U.S. People love diesel down here since gas prices are suprisingly high.

Hybrids also have no love down here due to their extreme initial cost.

xioix

Because in Europe, they buy more S350's than S600's

spwolf

yep, that is the main reason - people dont understand that S class, A8 and 7 series can be gotten without a lot equipment and with a lot smaller engines in Europe.

And Lexus will not and doesnt have to compete with that. It is competing with >V8 versions that dont sell that well anyway, so expecting 70% of LS sales to be hybrid is to be understood.

If not for smaller resale value and lesser cost at the pump, everyone in Europe would be driving petrol cars...

GS69

Toyota Plans 10 New Hybrids in Europe

GENEVA (Reuters) -- Toyota Motor Corp. expects the addition of at least 10 new hybrid models to help drive a rise in European sales to 1 million vehicles by 2013 or 2014, up about a quarter from last year, a top executive said.

Toyota Motor Europe President Didier Leroy also said the automaker would aim to boost sales in the region by 10% this year from the 808,000 sold in 2010 -- higher than the 7% gain that headquarters had forecast in December.

"Between 2013 to 2014, we must return to 1 million sales," Leroy, who became the 1st non-Japanese head of Toyota's European operations last June, told reporters on Monday on the eve of the Geneva auto show.

About 20% of those sales will likely be a hybrid car, he said, compared with 9% last year.

Toyota's European sales peaked at 1.2 million vehicles in 2007, before the financial crisis hit.

While Toyota's market share fell slightly, to 4.6% in Europe last year hit by the recall crisis, Leroy said earnings were improving faster than expected thanks to a more disciplined approach to costs and marketing.

In the October-December quarter, the European operations made a profit of 20 million euros ($27.5 million), reversing losses for the first time in about 3 years, he said.

"We want to have a profitable growth," he said. "Many of our competitors currently have one target in Europe: beat Toyota. This is part of the game. (But) we don't want to beat anybody; we just want to grow in a profitable way."

Toyota's operations in Japan are losing money on car exports with the euro stuck near a historical low 112-113 yen. Toyota imports about half of the cars it sells in Europe from Japan.

But as a stand-alone regional operation, Leroy said Toyota Europe would aim to contribute to the group's earnings, 1st by generating free cash flow from the business year starting in April 2011, and returning to the black on an annual basis the following year.

Driving much of the sales and profit growth will be Toyota and Lexus' hybrid vehicles, including the gasoline-electric Yaris subcompact model to be rolled out in Europe in the second half of 2012.

A teaser version of the car, the Yaris HSD concept, will debut in a world premiere at the Geneva auto show on Tuesday.

Hybrids are gradually gaining momentum in Europe after a slow start compared with Japan and the United States, with BMW and PSA/Peugeot-Citroen on Monday announcing plans to invest 100 million euros in a hybrid technology joint venture.

"This is wonderful news for us," Leroy said of the Franco-German partnership, adding it proved that consumers were rethinking hybrids as a smart choice to drive less polluting cars and lower the cost of ownership by using less fuel.

Toyota and Lexus currently offer 6 hybrid models in Europe. In just 2 years, the percentage of consumers in Europe saying they would consider a hybrid for their next car purchase grew to 16% from 8-9% in 2009, Leroy said.