Lexus May Offer Better Deals to Keep Sales High
It used to be "the relentless pursuit of perfection." Now it's the relentless pursuit of slipping market share.
With Toyota's recent high-profile recalls, Lexus sales have slipped -- and several other companies are vying to be number one in the luxury car sector.
Bloomberg reports, "After 10 years on top in the U.S., Toyota Motor Corp.'s Lexus risks relinquishing its best-seller status among luxury brands to Daimler AG's Mercedes-Benz."
The reasons include problems with fuel leaks, engines that may stall, and roll over risk. This in addition to Toyota's 8 million vehicles recalled for defects linked to unintended acceleration.
So far in 2010, Lexus has sold 107,430 cars in the U.S. -- compared to 106,972 vehicles by its next biggest rival, Mercedes-Benz. And BMW isn't far behind with 100,632 cars sold in the U.S. through June, 2010.
Unless it cleans up its act quickly and convinces customers that its quality problems are over, Toyota's Lexus could fall behind both German brands.
This is all good news if you're planning on buying a luxury vehicle. The competition is fierce and we can expect to see some great deals being offered through the end of the year.
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