Lexus lines up new RX, LC 500 - Aims to Double Sales in India by 2023

Strategies and Challenges Faced by Lexus in Expanding its Presence and Sales in the Indian Luxury Car Market
Lexus, the luxury car brand of Toyota, is optimistic about doubling its sales of new cars and SUVs in India by 2023, despite facing economic challenges. The company is expecting sustained demand and booking momentum in the market to fuel its growth. To achieve this, Lexus plans to explore the possibility of assembling more vehicles in India, including electric vehicles, as it expects its base in the country to expand further. With 29 outlets covering almost 80% of the market, Lexus plans to expand to six or seven more cities and launch more models, including the RX SUV, LM MPV, and LC 500 facelift.
The company is also considering adding different body styles, such as SUVs, vans, and sports cars to attract different customer bases. Lexus has already broken into the four-digit sales mark in India in its fifth year of operation and is inching closer to achieving 4-5% market share. The brand has been affected by the global chip shortage, leading to a waiting period of up to 12 months for its models. However, with improved chip supplies, Lexus expects to serve up to 80% of its total order book and deliver cars more quickly than last year. Furthermore, Lexus is currently studying the feasibility of locally assembling EVs in India to keep pace with the global shift towards zero-emission vehicles.
The Indian Market for Lexus Brand Models: Overview and Challenges
The Indian market for Lexus brand models is relatively small compared to other luxury car markets such as the United States or China. Lexus, which is the luxury vehicle division of the Japanese automaker Toyota, began selling cars in India in 2017. Since then, the brand has gradually expanded its product lineup in India and has gained a small but loyal following among luxury car buyers. However, the sales volume of Lexus cars in India is still relatively low, and the brand faces tough competition from other luxury car manufacturers such as Mercedes-Benz, BMW, Audi, and Jaguar Land Rover. Moreover, the high import duties and taxes levied by the Indian government on luxury cars make Lexus cars more expensive in India than in other markets. To know more about this brand or buy Online this model visit: https://rowthautos.com/model/Lexus

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