Toyota Motor (NYSE: TM), its brand besieged in the US and elsewhere due to recalls, has one bright spot in the US. The company’s luxury brand, Lexus, was the No.1 selling high-end car in America based on the first eleven months of sales. Lexus has held the top spot for eleven years now.
The Lexus will close the first eleven months of 2010 with 201,769 car and light vehicle sales. That will edge out Mercedes at 198,288 and BMW at 196,833 according to Trucar.
Lexus did have one reason for concern. US unit sales were up less than 8%. Meanwhile, BMW sales rose nearly 12%. and Mercedes sales were up 15%.
The research also shows that the US luxury car brand still cannot gain traction. Ford Motor (NYSE: F) is arguably the most successful US-based car company and has had a banner year for its domestic sales. Its Lincoln brand is a disaster, and remains the one part of the company that is an embarrassment after the firm’s turnaround. Lincoln sales for the first eleven months of the 2010 were only 77,768, up a modest 7%.
Cadillac sales were more impressive, but still behind the top three imports, BMW, Lexus and Mercedes. The brand has retooled its entire product line in the last two years with the launch of its CTS sedan, a new crossover, and a new sports wagon. Cadillac sales rose 38% in the January through November 2010 to 130,207. The growth rate was the best among the six major luxury brands sold in America.
BMW held the lead in terms of average price per vehicle sold at $52,255, followed by Mercedes at $49,065. One of the reasons for the success of Lexus sales is that it has the lowest average price at $42,794.
The Lexus has only been available in the US for 21 years.
Douglas A. McIntyre
Top Gaining Stocks
Top Losing Stocks