Lexus sees future bright, will bring in new models

NEW DELHI: Luxury car maker Lexus plans to introduce more models in India and expand dealerships in the country, anticipating a revival of growth after the current slowdown.“At this moment, we have a severe condition in the market… We actually expected (to) grow a little faster,” Lexus International global president Yoshihiro Sawa said. “(But in) India, we believe the future will be bright. So Lexus will grow, of course.”Lexus currently sells half a dozen sedans and sports utility vehicles in India priced between Rs 58.2 lakh and Rs 2.32 crore (ex-showroom). Sawa said at present, the company’s dealerships are limited. “But as time goes by, we will spread the dealerships and we will bring more models,” he said.Sawa admitted that the high tax structure for imported cars has meant that Lexus commands a premium over rivals. However, there are no plans at the moment to start an assembly unit in India. The company could consider this option once sales volumes build up.“We are laying the foundation now and will think of it (local assembly) later. We are trying to provide a unique experience to Lexus customers compared to other luxury brands,” Sawa said.He said the disruption caused by the advent of connected, autonomous, shared and electric technology will impact the market but customers will continue to look for personalised ownership experiences. “Of course, sharing mobility options will come and maybe it will dominate some portions of the luxury market, but at the same time, owning a special personalised vehicle is there,” he said.

from Economic Times https://ift.tt/3392669