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Lexus in no hurry to be a big player in China

For a while now, China's spiraling wealth, population and development has had the world's luxury automakers in an expansionist fervor, with many executives exhibiting the sort of gleefully maniacal behavior historically reserved for gold-rush prospectors. Yet Toyota, of all companies, is exercising a surprising amount of caution in the Asian nation.
As The Wall Street Journal notes, Toyota's premium brand, Lexus, sold all of 64,000 vehicles in China last year, while BMW cleared its books of 326,000. In fact, it didn't even bother entering the market until 2005, while rival Audi built its first car in the market a decade and a half earlier. Even now, Lexus doesn't build any vehicles in China, and with the country's notoriously high tariffs on imports, that's a major disadvantage. Yet the business daily quotes Lexus executive vice president Mark Templin as saying that the brand is nowhere near ready to start building cars in the market. "We're not having those discussions about when we're going to go to China... We have a lot of work to do before we get to that point."
Part of that work includes establishing a more expansive dealer network - Lexus only had 99 stores as of 2012, while rival Mercedes-Benz had over two-and-a-half times as many, and it's still expanding. Adding a lot of dealers without having a goodly number of competitively priced offerings for them to sell may seem like an odd strategy, but Templin tells the WSJ that the goal is to "cultivate our image for quality and customer service and let the customers that we have go tell that story for us."

Toyota projecting record profits, thanks in part to weak yen

Toyota retained its global sales crown in 2014 by selling 10.23 million cars in the calendar year. As the positive number might suggest, the Japanese automaker is doing extremely well financially, too. Although, some tougher times might be on the horizon. Toyota recently released its financial figures for the three fiscal quarters running from April 1 through the end of December 2014. Net profit jumped an impressive 13.2 percent to 1.727 trillion yen ($14.7 billion) for that period. It could be the Japanese automaker's most profitable time ever when the fiscal year ends in March, if things keep going this way, according to The New York Times. Toyota's own profit forecast for the 12-month period is also up by 130 billion yen ($1.1 billion) to 2.13 trillion yen ($18.1 billion). One key to the company's success is the low value of the Japanese yen, because it allows Toyota to make more money on each vehicle the company sells abroad. The currency is now worth relatively less than any time since the early '70s, according to The New York Times. Despite the rosy financial numbers, actual sales have started to fall, albeit a very slight amount. Through the three fiscal quarters, the company sold 6.73 million cars, a drop of just 45,365 vehicles. Toyota also reduced its forecast for the fiscal year to 9 million units, rather than the original estimate of 9.05 million. According to The New York Times, the shrinking Japanese auto market and difficulty in China might mean losing the global sales lead next year. For the US, sales jumped 145,411 units from April through December to a total 2.1 million vehicles. Operating income reached $4.27 billion, nearly 50 percent more than last year, according to The New York Times. Toyota Motor Corporation (TMC) Announces April – December 2014 Financial Results February 04, 2015 Toyota's global net income jumped 13.2 percent during the nine-month period (April 1– December 31, 2014) of the 2015 fiscal year. Global Financial Highlights: Global sales decreased by 45,365 vehicles to 6.73 million, with strong sales in North America and gains in Europe, offsetting decreases in Japan and other regions.

Lexus trademarks enigmatic LX 600 nameplate

An American trademark filing suggests Lexus is about to expand its lineup of SUVs with a range-topping model named LX 600. The new nameplate asks many more questions than it answers. Discovered by AutoGuide, the filing seemingly corresponds to a stronger evolution of the Toyota Land Cruiser-based LX 570 that currently occupies the top spot in the Lexus SUV hierarchy. LX is, of course, the model, while 570 denotes the presence of a 5.7-liter V8 under the hood. By that logic, an LX 600 should have a 6.0-liter engine, and very likely a V8; we can't imagine Lexus selling an LX with 10 or 12 cylinders, for better or worse, and a 6.0-liter V6 would be a mammoth of an engine. One of the question marks hovering around the filing is whether 600 actually corresponds to the engine's displacement. There isn't a 5.0-liter V8 between the LS 500's fenders; it's powered by a twin-turbocharged, 3.5-liter V6. Carmakers are moving away from large-displacement engines to comply with looming emissions norms, and Toyota is on the front lines, so the theory of a 6.0-liter V8 in a Lexus flagship — even one that's relatively old-school — struggles to hold water. An earlier report claims the next-generation Toyota Land Cruiser will ditch its V8 in favor of the aforementioned V6, and it might be available with the LS 500h's gasoline-electric hybrid powertrain. The LX has always been nearly identical to the Land Cruiser in the engine bay, so it will likely surf the downsizing wave, too. Our intuition tells us 600 is too high for the base model, and the flagship hybrid would logically be dubbed 600h. Here again, we've reached a body-on-frame cul-de-sac. We can't forget about the possibility that Lexus will not slap the LX 600 nameplate on anything. Automakers routinely trademark names to protect them without planning on using them. The company hasn't commented on the trademark filings, and it hasn't shed light on the next-generation LX, so the speculation will continue until official information emerges. It's tentatively scheduled to make its debut in 2021, and arrive in showrooms in 2022, about a year after the new Land Cruiser. Featured Gallery 2019 Lexus LX 570 View 42 Photos Auto News Lexus SUV Luxury