Lexus Concedes Luxury Car Sales Title Due To Earthquake
Nearly 5 months in to the calendar year, Lexus has admitted that it will not be able to sustain its lead in the luxury car sales race, due to tight supplies of vehicles and parts from Japan.
With dealers down to a 30 day supply of cars (compared to a usual 60 or 90 day supply), the situation is so drastic that regional marketing campaigns are being ended due to a dearth of new vehicles to sell. Lexus is offering to extend the leases of current customer’s vehicles, and is discouraging dealers from attempting to inflate prices of the limited supply of cars, with Lexus general manager Mark Templin stating “…that’s not the way we do business.”
Many vehicles, such as the newly introduced CT200h hybrid are nearly sold out, while the Japanese factories that build the majority of Lexus vehicles are not expected to reach full capacity until November.
[Source: Automotive News]
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