Lexus India has lined upmarket launches for the new RX, LC 500, and the LM luxury MPV in 2023.
Lexus, a luxury car brand owned by Toyota, anticipates doubling its new car and SUV sales in India in 2023 due to sustained booking and demand momentum in the market, despite the economic challenges. Lexus is looking into the possibility of assembling additional vehicles, including electric vehicles, in India as its base grows.
Main Aim Of Lexus
- Lexus RX SUV India launch by May this year
- Lexus LM MPV being homologated for India
- LC 500 facelift likely to launch this year as well
More made-in-India Lexus models incoming
Speaking on the sidelines of Lexus India’s sixth-anniversary celebrations, its president Naveen Soni told our sister publication Autocar Professional. Lexus India’s president Naveen Soni told our sister publication Autocar Professional on the sidelines of the company’s sixth-anniversary celebrations. Because of improved chip supplies, we expect a twofold increase this year. India is poised to rise to the top three markets here, representing the region’s only sweet spot.
Lexus Now Expanded To 80 % Of Market
In 2023, Lexus India intends to expand both its reach and its product line. It has already expanded to 16 cities with 29 outlets, covering almost 80% of the market, and it is targeting another six or seven cities. Even though it was originally planned to go on sale in March, Lexus will launch the RX SUV by the end of May in order to meet the growing demand for SUVs.
Additionally, Lexus will homologate its flagship LM 500h luxury van, which was on display at this year’s Auto Expo. The updated LC 500 coupe will also be available throughout the year for those who enjoy speed.
“Lexus Will Be Able To Achieve This Target By end Of Year”- Soni
“We are undertaking rapid network expansion and taking steps to broaden the portfolio. “We are adding different body styles – SUVs, vans, and sportscars to bring in a different customer base and profile of buyers,” adds Soni. “The brand portfolio was heavily skewed in favor of locally assembled sedans.”
Lexus models’ waiting period stretches upto 12 months
Lexus India was only able to fulfill approximately 40% of its total order book as a result of the global chip shortage, and the current waiting period for Lexus models ranges from three months to twelve months. According to Soni, “The availability has improved to almost 80% of our average order book with the supply scenario much better.” We should be able to deliver automobiles significantly faster than last year. Model availability ensures long-term market share growth in a highly competitive market with numerous alternatives for potential buyers.
Locally assembled EVs under study
Lexus was a latecomer to the luxury car market in India. In its fifth year of operation in 2022, it was able to break into the four-digit range. With plans to double production, it will be closer to 4-5 percent of the market.
Lexus India Is Aiming For 2000 Units
The management of Lexus India declined to provide specific sales figures, but those in the know predict that the company will probably sell between 2,000 and 2,200 units this year. It is considering expanding local assembly as volumes and the network both expand rapidly.
Look What CEO Have To Say:
Soni responds that Lexus was able to obtain some critical feedback on how the product can be adapted for the Indian conditions and requirements of the local buyers from the road test of the electric UX that was conducted roughly a year ago when asked if the company intends to bring EVs to India.