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Lexus regrets not doing 3-row CUV before RC coupe [UPDATE]

UPDATE: The source clarifies that rather than planning new small cars and crossovers, Lexus intends to rely on the ones it already has in its lineup. The text below has been revised accordingly. Automakers try to give its dealers (and by extension, their customers) the vehicles they're asking for. In Lexus' case, that's come down to a sport coupe and a three-row crossover. The Japanese luxury automaker ended up prioritizing the former with the launch of the RC coupe, but in retrospect, it feels it should have gone with the seven-seater instead. This according to Toyota's North American chief Jim Lentz in speaking to Automotive News at its provisional headquarters in Plano, TX. "In hindsight, if I was making this decision 10 years ago, seeing what I see today, the three-row [crossover] probably would have been the better play to come out first," Lentz to AN. "Strategically that's a more important vehicle to have than necessarily a lower volume, higher priced image product." Crossovers and SUVs represent big business for Lexus, whose five-seat RX (pictured above) is its biggest seller. The more compact NX is off to a solid start as well, but the brand's only three-row offerings are truck-based sport-utes like the GX and LX. Even without the three-row crossover, however, Lexus has been performing admirably. Rising sales have it trailing only BMW and Mercedes in the US market for luxury automobiles. Adding a three-row crossover to target the likes of the Audi Q7 and Mercedes GL will evidently be the next top priority for Lexus, but it's not the only plan the luxury brand has for the near future. Lentz indicated that the company plans to rely on its lineup of near-luxury and entry-level luxury sedans and crossovers moving forward, but isn't interested in going after the Mercedes CLA and Audi A3. "Luxury cars cost a certain dollar amount for a reason," said Lentz. "I don't want to cheapen my cars just to offer a lease that's $20 a month less."

Junkyard Gem: 1991 Lexus ES 250

When the Lexus LS 400 first appeared here in late 1989 (as a 1990 model), sellers of German-made luxury sedans broke out in the shaky sweats and car shoppers flocked to see — and buy — this well-built statusmobile that retailed for about 60% of the price of the cheapest S-Class. Not attracting nearly as much attention at the time was the other introductory vehicle of the Lexus brand: the ES 250. Sold here for just the 1990 and 1991 model years, the first-generation ES was the most Camry-like of its kind and the hardest to find today. Here's a '91 in a San Francisco Bay Area yard. All of the ESs for the model's first couple of decades were based on the Camry, so they benefited from the Camry's famous reliability while suffering from its not-so-exciting image. Toyota made a good effort to make the 1990-1991 cars look something like their LS big brothers, but their Camry origins are quite obvious from most angles. Later ESs got more distinctive body panels and sales got stronger when that happened. Power came from this 2.5-liter V6, which was the hairiest engine available in the 1991 US-market Camry. 159 horsepower, which was pretty good for a car like this in the early 1990s. A five-speed manual transmission could be had in the ES 250 and ES 300 through the 1993 model year, but those early-1990s American car shoppers wishing for a midsize luxury sedan with three pedals generally opted for an Audi or BMW, with most of the rest settling on the Acura Legend. I'll keep looking out for a five-speed ES in a car graveyard, of course, but finding any first-gen ES has been a tough challenge in itself. This one got within 252 miles of the 200,000 mark, not bad for a typical 1991 car but also not especially impressive for a member of the Camry family. The interior was much nicer than what you got in any Camry, but junkyard shoppers have hit this one hard and its opulence no longer shines through. Toyotas had some variation of this switch from the late 1970s and into our current century. This version comes straight out of the Cressida. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. That Lexus noise-testing room sure is impressive! This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Good in the rain, too. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

The next steps automakers could take after sales drop again in April

DETROIT (Reuters) - Major automakers on Tuesday posted declines in U.S. new vehicle sales for April in a sign the long boom cycle that lifted the American auto industry to record sales last year is losing steam, sending carmaker stocks down. The drop in sales versus April 2016 came on the heels of a disappointing March, which automakers had shrugged off as just a bad month. But two straight weak months has heightened Wall Street worries the cyclical industry is on a downward swing after a nearly uninterrupted boom since the Great Recession's end in 2010. Auto sales were a drag on U.S. first-quarter gross domestic product, with the economy growing at an annual rate of just 0.7 percent according to an advance estimate published by the Commerce Department last Friday. Excluding the auto sector the GDP growth rate would have been 1.2 percent. Industry consultant Autodata put the industry's seasonally adjusted annualized rate of sales at 16.88 million units for April, below the average of 17.2 million units predicted by analysts polled by Reuters. General Motors Co shares fell 2.9 percent while Ford Motor Co slid 4.3 percent and Fiat Chrysler Automobiles NV's U.S.-traded shares tumbled 4.2 percent. The U.S. auto industry faces multiple challenges. Sales are slipping and vehicle inventory levels have risen even as carmakers have hiked discounts to lure customers. A flood of used vehicles from the boom cycle are increasingly competing with new cars. The question for automakers: How much and for how long to curtail production this summer, which will result in worker layoffs? To bring down stocks of unsold vehicles, the Detroit automakers need to cut production, and offer more discounts without creating "an incentives war," said Mark Wakefield, head of the North American automotive practice for AlixPartners in Southfield, Michigan. "We see multiple weeks (of production) being taken out on the car side," he said, "and some softness on the truck side." Rival automakers will be watching each other to see if one is cutting prices to gain market share from another, he said, instead of just clearing inventory. INVESTORS DIGEST BAD NEWS Just last week GM reported a record first-quarter profit, but that had almost zero impact on the automaker's stock. The iconic carmaker, whose own interest was once conflated with that of America's, has slipped behind luxury carmaker Tesla Inc in terms of valuation.