Lexus more bullish, eyes 16% sales growth
July 29th, 20100 Comments | Manila Bulletin, Feb 1, 2010
After a satisfactory performance on its first year in the Philippine market, Lexus Manila is setting 16 percent increase in sales this year to 200 units from 172 units last year with help from the introduction of hybrid Lexus models that would fetch a price per unit of P10 million more or less and strong demand for its luxury commercial vehicle line-up.Lexus Manila Inc.
president Danny Isla told reporters during the Toyota Motor Philippines Corp. media thanksgiving party on Friday that its sales last year enabled them to grab a 13 percent of the luxury car market in the country, and quickly climbing to the fourth position among luxury car brands being sold locally.We had an amazing ride and great success during our first year in the Philippine market, Isla said.Isla, however, said that sales of Lexus would always be tempered by the prohibitive cost of this luxury brand as the market is limited to the most affluent social strata.But, 2010 poses a lot of opportunity for growth, change and hope, said Isla.To be launched this year are two hybrid Lexus models LS and LX.Isla said that LS is expected to be introduced in March and LX within the second semester this year with a unit costing P10 million more or less, which is a lot expensive than the P2.2 million cost of the Prius, the hybrid car of its parent firm Toyota Motor Philippines.So far, its sales are equally divided between car and sports utility vehicle models but sales this year are expected to be in favor of commercial models with 60 percent share and cars with 40 percent.Our RX model is the most popular, it is selling by itself, said Isla.To support its marketing strategy, Lexus Manila is also beefing up its sales force to 10 from 7 people last year.During its first year, Lexus Manila has responded to market trends by offering its customer a fresh option of luxury car line-up.With the opening of its world-class showroom at the heart of Fort Bonifacio Global City last year, Lexus also launched its initial line-up composed of the flagship sedan LS460, ES350, GS460, IS300, and full-size SUV LX570.This was immediately followed by the March introduction of the global best-selling Lexus cross over SUV RX350, and the sporty convertible IS300c in September.