China plays a very big role in the automotive market today. The country alone can help drive an automaker's sales up, or down, depending on how the market reacts to the brand's offerings. Fortunately, Lexus' models have been a big hit in China as of late, and has helped Toyota's luxury brand enjoy its best year yet.
Lexus recently announced that it set a new record for global sales with a total of 765,330 units sold from January to December 2019. This is a 10-percent increase as compared to global sales in 2018. The US is still Lexus' largest market comprising nearly 325,000 units sold. However, sales in the North American region has remained the same when compared to 2018. It is China, now the second-largest market of Lexus, which experienced the biggest growth. In the country alone, including Hong Kong, Lexus sold around 202,000 units with a large 25% increase.
Europe now only comes third with 87,000 units sold but with a 14% increase. In Japan, 62,000 units were sold last year with a 13% growth. East Asia followed by with the Middle East comprising the remaining two regions with 34,000 and 32,000 units sold, respectively.
“I would like to express my heartfelt appreciation to each and every Lexus customer around the world. From the time of our founding, we at Lexus have been earnestly pursuing the spirit of innovation and untiring evolution, and we will continue to take up the challenge of building vehicles that exceed our customers’ expectations,” said Koji Sato, president of Lexus International
Lexus says that high sales were mainly due to the UX, all-new ES, both launched in 2018 and the refreshed RX. For 2020 and beyond, Lexus will be further expanding its lineup of electrified vehicles. In fact, the brand already started with the launch of its first battery-electric vehicle in China – the UX300e.
We expect that Lexus will have an even better year this 2020 as compared to last year. In particular, sales in China could grow even more following the launch of the UX300e. Also, don't forget the numerous people in China, Hong Kong, and even the Philippines are waiting for sales of the much awaited LM.