rsantiago

http://ph.news.yahoo.com/star/200807...a-0ec9746.html

Toyota Motor Philippines Corp. (TMPC), controlled by the family of taipan George S.K. Ty, has ushered in the high-end Lexus brand to the country via the establishment of a P1-billion company called Lexus Manila in line with the Japanese automaker's global expansion of its luxury division.


Lexus, which has become the highest-selling maker of luxury cars in the United States, is presently sold in 57 countries in Europe, the Middle East, Oceania, Africa and Asia. It was launched in China three years ago, in Malaysia earlier this year and Indonesia only last month.

Lexus Manila applied yesterday for a corporate license with the Securities and Exchange Commission. Out of the P1-billion authorized capital stock, P250 million has been subscribed.

The new company is slated to start operations in the fourth quarter this year and is looking at initially selling 20 to 30 units a month to corner eight percent of the luxury passenger car segment.

To rise on a 4,500-square meter property at the Bonifacio Global City, Lexus' dealership will stand on three storys that will house the brand's internal offices, stockyard, service center and six-car showroom.

Toyota is eager to resuscitate demand for more expensive sedans to secure stable profits in the traditionally difficult market.

Being the top-selling luxury marque in the United States, Lexus, a lightweight in Europe after 15 years on the market, is aiming to be recognized as a global premium brand.

Market leader TMPC, which accounted for 36 percent of total sales sold 22,209 units in the first half this year, an increase of 6.8 percent from 20,790 units last year. Sales in June declined slightly by 1.1 percent to 4,003 units from 4,046 units in May.

TMPC will be pitting Lexus against other luxury brands like Mercedes Benz and BMW, which currently dominates the country's luxury segment with a market share of 70 percent.for passenger cars and 50 percent for sport utility vehicles.

Lexus originated from a clandestine flagship sedan project which began in 1983. This effort developed into the original Lexus LS, which was the first vehicle to wear the Lexus marque upon its launch in 1989. In following years, Lexus added sedan, coupe, and SUV models. Hybrid drivetrains arrived in 2005, and the F-marque performance division debuted in 2007. From the start of production, Lexus vehicles have been consistently produced in Japan.

The assembly of the first Lexus built outside the country, the Ontario, Canada-produced RX, began in 2003.

Since 1989, Lexus has developed a reputation for vehicle reliability and customer service, as measured by independent surveys. - Zinnia B. Dela Peņa/Philstar


Great news Lexus finally coming in the PI, but I can't wait to see the sticker shocker on the prices of the cars. Trust me guys it makes us folks in the states feel spoiled.

Trexus

Go Lexus Manila, Mabuhay...

encore888

Here is the Manila Times' article:

http://www.manilatimes.net/national/...1211moto6.html

balutsc300

iTrader: (1)

the only ones that can afford it is the corrupt government jk mabuhay!

rsantiago

Now why would they buy it at a dealership where you can just simply smuggle the car if you the right connections. Know what I mean.

manila_boy

ive been here for almost 2 years now, and i've been seeing a lot of les around here-mostly LSs, RX/Harrier, Soarer, but no GS!!! anyhow, so glad it made it here-been hearing the news bout it for a while now. now if i could only make some contacs with right people to bring home my lexi

lex-phil

Here's how the dealership looks like right now...

pisaykotik

Please post a pic when it's done.

encore888

Thx for the pic!