Lexus Sales Rise 43 Percent in March; First Quarter Results Up 30 Percent

1 April 1998
Lexus Sales Rise 43 Percent in March; First Quarter Results Up 30 Percent

    TORRANCE, Calif., April 1 -- The Lexus Division of Toyota
Motor Sales (TMS), U.S.A., Inc., set a new sales record of 10,672 luxury cars
and sport utility vehicles for the month of March, an improvement of 43
percent over the same period a year ago, capping the strongest first-quarter
sales pace in its history.
    The first three months of 1998 saw 28,483 Lexus vehicles sold through its
177 retail points. First-quarter sales were 30 percent above the same period
in 1997.
    The exceptional first-quarter sales performance was almost entirely due to
strong Lexus passenger car sales, since the highly acclaimed LX 470 and RX 300
sport utility vehicles were just being shipped to dealers at the end of the
month. The hottest new luxury SUV on the market, the RX 300, was delivered to
1,902 customers in its first 10 days of availability. Customer demand for the
innovative SUV is extremely strong, with a sold-order list of nearly 6,000.
    "While the overall auto industry appears to have declined slightly in the
first quarter, the luxury segments and especially mid-size and large SUVs are
up," said Jim Press, TMS senior vice president, automotive operations. "These
should remain strong as consumer confidence and the economy continue to be
buoyant. Full-line luxury brands like Lexus are in the right place at the
right time to meet continuing demand for luxury cars and trucks.
"With record-breaking passenger car sales, combined with two new SUVs just
coming on line, we expect approximately 30 percent sales growth for Lexus this
calendar year," Press said.
    The segment-leading ES 300 sedan led the way for Lexus in March with 4,010
sales in the hotly competitive near-luxury class. The Lexus GS 300 and GS 400
sport sedans continue to bring performance-minded customers into the franchise
with 2,638 sold in March.  The flagship LS 400 prestige luxury sedan continues
to be very strong with 1,656 sales in March and first-quarter sales up 13.6
percent.
    With production ceased in December for changeover to the all-new LX 470,
stocks of the LX 450 model were near zero, with 177 remaining units sold. The
SC 400 and SC 300 sport coupes combined for 289 sales in March.
Lexus, the luxury Division of TMS, offers a full lineup of eight luxury cars
and sport utility vehicles, and today was named the number-one nameplate in
long-term dependability after five years of ownership by J.D. Power and
Associates in its 1998 Vehicle Dependability Index.
"Quality is always in style," commented Press on the most recent accolade for
Lexus. "While the luxury market continues to be quite robust, today's customer
looks for lasting value as the true measure of prestige. We think this is
another reason for our record-breaking sales."

SOURCE  Toyota Motor Sales