Lexus Plans Four New Models in 2009, Despite Slump
11-20-08 | 10:47 AM
#1
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Lexus Plans Four New Models in 2009, Despite Slump
Lexus Group Vice President Mark Templin has a plan to weather next year’s gloomy auto market: to launch four vehicles.
Lexus/Wieck
2010 Lexus RX 450h
The luxury brand of Toyota Motor Corp. has suffered a 21% decline in sales so far this year and that is in part because the company didn’t have any new products this year, Mr. Templin said in an interview at the show.
And he’s cutting back spending now so he can invest in the marketing campaigns of these four products one of which, the new RX, was revealed Wednesday. In six weeks at the Detroit auto show, Lexus plans to unveil its new dedicated hybrid, the HS250h. And it is also releasing a new IS convertible next year. Mr. Templin declined to provide details on the fourth product.
Meanwhile, the tough economic times are taking a toll on Lexus’ customers but not necessarily because times are tight. It’s an image issue too, according to Mr. Templin. He said current customers are buying their leased vehicles instead of getting new ones because “they don’t want to look like they have money.”
That, he hopes will translate into more sales as the economy starts to turn around. – Kate Linebaugh
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Lexus/Wieck
2010 Lexus RX 450h
The luxury brand of Toyota Motor Corp. has suffered a 21% decline in sales so far this year and that is in part because the company didn’t have any new products this year, Mr. Templin said in an interview at the show.
And he’s cutting back spending now so he can invest in the marketing campaigns of these four products one of which, the new RX, was revealed Wednesday. In six weeks at the Detroit auto show, Lexus plans to unveil its new dedicated hybrid, the HS250h. And it is also releasing a new IS convertible next year. Mr. Templin declined to provide details on the fourth product.
Meanwhile, the tough economic times are taking a toll on Lexus’ customers but not necessarily because times are tight. It’s an image issue too, according to Mr. Templin. He said current customers are buying their leased vehicles instead of getting new ones because “they don’t want to look like they have money.”
That, he hopes will translate into more sales as the economy starts to turn around. – Kate Linebaugh
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Last edited by LexFather; 11-20-08 at 05:53 PM.
11-20-08 | 10:56 AM
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Mr. Templin statement people don't want to show out concurs with my statements about where the luxury market might and probably will go. Less flashy and more understated.
Wow, what is the 4th product? Lexus continues to keep things fresh every year. Great work by the team!
Wow, what is the 4th product? Lexus continues to keep things fresh every year. Great work by the team!
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11-20-08 | 11:52 AM
#9
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It will be the GX.
I started a thread about it in the GX forum.
Starts being built in early November, hopefully we will see it before the end of the year in showrooms.
Looks like a mini-LX.
Still the same back gate, 4X4, center console looks very much like an LX, plus it now will have fold-flat 3rd row seats.
I started a thread about it in the GX forum.
Starts being built in early November, hopefully we will see it before the end of the year in showrooms.
Looks like a mini-LX.
Still the same back gate, 4X4, center console looks very much like an LX, plus it now will have fold-flat 3rd row seats.
11-20-08 | 12:02 PM
#10
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11-20-08 | 12:08 PM
#11
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I don't think they can expect profits from the LF-A with the repeatedly reported $200k price range even without the economic downturn, they can't be expecting to sell too many of them & make significant profits from them even if the economy did not turn sour, so I am not buying this line of reasoning.
I think it's more likely they chicken out for reasons that they do not want to reveal ...
I think it's more likely they chicken out for reasons that they do not want to reveal ...
