Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now

You can switch off notifications anytime using browser settings.
Stock Analysis, IPO, Mutual Funds, Bonds & More

Lexus sees future bright, will bring in new models

Anticipating a revival of growth after the current slowdown in India, the luxury car maker plans to introduce more models and expand dealerships. Lexus currently sells half a dozen sedans and SUVs in India, priced between Rs 58.2 lakh and Rs 2.32 ...

, ET Bureau|
Nov 02, 2019, 10.33 AM IST
NEW DELHI: Luxury car maker Lexus plans to introduce more models in India and expand dealerships in the country, anticipating a revival of growth after the current slowdown.

“At this moment, we have a severe condition in the market… We actually expected (to) grow a little faster,” Lexus International global president Yoshihiro Sawa said. “(But in) India, we believe the future will be bright. So Lexus will grow, of course.”

Lexus currently sells half a dozen sedans and sports utility vehicles in India priced between Rs 58.2 lakh and Rs 2.32 crore (ex-showroom). Sawa said at present, the company’s dealerships are limited. “But as time goes by, we will spread the dealerships and we will bring more models,” he said.

Sawa admitted that the high tax structure for imported cars has meant that Lexus commands a premium over rivals. However, there are no plans at the moment to start an assembly unit in India. The company could consider this option once sales volumes build up.

“We are laying the foundation now and will think of it (local assembly) later. We are trying to provide a unique experience to Lexus customers compared to other luxury brands,” Sawa said.

He said the disruption caused by the advent of connected, autonomous, shared and electric technology will impact the market but customers will continue to look for personalised ownership experiences. “Of course, sharing mobility options will come and maybe it will dominate some portions of the luxury market, but at the same time, owning a special personalised vehicle is there,” he said.

Also Read

OctaFX has given away BMW X5 M, Lexus GS-F, and five Honda cars

Lexus brings luxury SUV, RX450hL, to India at Rs 99 lakh

Acura, Infiniti, Lexus: The worst luxury cars of 2018

Lexus India launches all-new Lexus ES 300h sedan priced at Rs 59.13 lakh

Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links

Follow us on

Download et app

Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service