According to Reuters,
Toyota Motor Corporation
) is hopeful that its redesigned ES 350 sedan will boost the sales
of its luxury vehicle brand Lexus. The company plans to launch the
2013 Lexus ES 350 and its hybrid version, the 300h, in August.
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In 2011, BMW was recognized as the top selling luxury vehicle,
) Mercedes-Benz with Lexus occupying the third place. The brand
lost its top place owing to the shortage of vehicles after the
earthquake in Japan.
Toyota expects the young generation to be more interested in the
Lexus model given its sportier design. The vehicle includes a
spindle grill which narrows in the middle. With the renovation and
new design of Lexus, sales are expected to be about 5,000 units a
The company anticipates a 25% year-over-year hike in sales of the
Lexus brand to 250,000 vehicles in U.S. The 2013 Lexus ES 350 would
be an added advantage in achieving the goal.
Toyota witnessed a 30.5% decline in profits to ¥283.56 billion
($3.7 billion) or ¥90.20 ($1.17) per share in its fiscal year ended
March 31, 2012 from ¥408.18 billion or ¥130.16 in the prior fiscal
year. However, the results missed the Zacks Consensus Estimate of
Revenues in the year went down 2% year over year to ¥18.58 trillion
($241.59 billion). The decrease in revenues and profit was due to
the challenges faced by the company owing to the disasters in Japan
and Thailand as well as unprecedented strength of the yen.
Japan-based Toyota is the leading automaker in the world in terms
of sales and production. Its product portfolio consists of a full
range of models from passenger cars, minivans and trucks as well as
related parts and accessories. The company's other competitors
General Motors Company
Honda Motor Co.
Currently, Toyota retains a Zacks #1 Rank, which translates into a
short-term (1 to 3 months) Strong Buy rating. We have a long-term
(more than 6 months) Outperform recommendation on the stock.