Japanese car manufacturer Toyota’s brans Lexus credited a double-digit sales gain last year, making its 30th anniversary impactful in China and Europe.
The brand which started in the year 1989, grew by 10% worldwide. On Monday, Toyota stated that it made great revenues in the UX subcompact and RX sports utility domain.
Lexus’ sales in China soared to 202,000, an increase of 25% and its deliveries in Europe climbed 14% to 87,000 vehicles. In the case of North America, its sales were level with the previous year.
Lexus’ shift toward a smaller and more fuel-efficient vehicle has proved popular in China. But in the case of North America, where large vehicles rule the road, this strategy has cost it market shares and momentum.
Toyota has been striving to make Lexus a huge global brand and its rapid growth in China and Europe is helping them realize their goal. In the initial years, Lexus recorded sluggish sales. The company officials stated that they did not forget the interests of the U.S, who was once their most profitable market. They said that they have some new projects coming up.
Lexus’ sales in America dropped down to 0.1% last year, to 298,114 units, their lowest since 2013. This marked their decline for the fourth straight year.
Anay Malhotra a qualified computer analyst turned freelancer who writes for Value News where his passion and hard work has earned him a Star Employee for 2 consecutive months. He has been working and exploring varied professionals like Modelling, Event Management and Writing.