Toyota Hopes to Nearly Double Ratio of Lexus Hybrids Sold in Europe
2 October 2006
The Nihon Keizai Shimbun reports that Toyota Motor plans to double the number of hybrid Lexus models offered over the next six or seven years and spend some ¥30 billion (US$255 million) renovating existing dealerships and building new ones.
The company aims to boost the ratio of Lexus hybrids sold in Europe from 27% of total Lexus sales at present to nearly 50% by the early 2010s, targeting annual sales of 100,000 units.
Lexus sold around 24,000 units in Europe in 2005, and is projecting annual sales this year of 48,000, following the introduction of the IS sedan there. Two of the four Lexus models currently marketed there are hybrids, and two or three more will be added by the beginning of the next decade.
Toyota expects the flagship LS 600h hybrid (earlier post) to account for 70% of European LS sales.
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