Toyota to Start Selling Lexus in Japan in August
From Bloomberg News
Toyota Motor Corp. will begin selling its Lexus brand in Japan on Aug. 30 to increase its share of the luxury segment in the world’s second-largest auto market.
Four sedan models that are sold under the Lexus brand in the U.S. but under the Toyota brand in Japan will get the Lexus nameplate in Japan by next year, the company said. The automaker aims to sell as many as 60,000 units a year.
Toyota is bringing home its luxury brand, developed in 1989 for the U.S. market, to compete with Mercedes-Benz and BMW.
Lexus sales rose 11% to 287,927 in the U.S. in 2004, making it the most popular luxury brand in the market for the fifth consecutive year.
