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January 24, 2024

Lexus Corners 42 Percent Of Luxury Car Market In The Philippines

Buoyed by a recovering automotive industry, Toyota Motor Philippines had a record 2023—breaching the 200,000-unit sales mark (check the full model-by-model breakdown). But did you know that its luxury division, Lexus, also had an amazing year as well?

Lexus managed to grab the number one spot in the luxury car segment as well; the first time they have done so in their 15-year history in the Philippines.

With their figures tucked in together with Toyota’s numbers, we now know that last year, Lexus Philippines managed to sell 1,843 units—a 114 percent year-on-year increase. By comparison, its two main rivals—BMW and Mercedes-Benz managed to sell 1,144 and 871 units, respectively.

In the luxury vehicle segment, Lexus now commands a 42 percent market share. For those who are curious, a total of 4,396 luxury vehicles were sold in 2023, up 37 percent from 2022.

And that’s not all. Lexus sales locally was driven mostly by the Lexus LM luxury MPV and the Lexus RX mid-sized SUV. Both of these models don’t come cheap with the LM starting at P 7.578 million and the RX priced starting at P 5.158 million.

This 2024, Lexus will introduce at least two new vehicles to their line-up: the first-ever Lexus LBX and the all-new Lexus GX.

Lexus’s record sales in 2023 points to a better life in general for Filipinos, says Toyota Motor Philippines Chairman, Alfred Ty. “What this tells me is that Filipinos are on their way to a higher quality of life and standard of living, in line with the government’s goal of making the Philippines an upper middle-income society.”

Here is the full breakdown of Lexus sales last year:
  • Lexus RX – 431 units (23.39 percent)
  • Lexus LM – 390 units (21.16 percent)
  • Lexus NX – 289 units (15.68 percent)
  • Lexus ES – 242 units (13.13 percent)
  • Lexus IS – 137 units (7.43 percent)
  • Lexus UX – 106 units (5.75 percent)
  • Lexus RZ – 79 units (4.29 percent)
  • Lexus LS – 57 units (3.09 percent)
  • Lexus LX – 49 units (2.66 percent)
  • Lexus GX – 41 units (2.22 percent)
  • Lexus LC – 13 units (0.71 percent)
  • Lexus LC Convertible – 5 units (0.27 percent)
  • Lexus RC – 2 units (0.11 percent)
  • Lexus RC F – 2 units (0.11 percent)

1 comment:

  1. Lexus didn't give a sales breakdown per model?


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