Although the Lexus brand was created only 36 years ago, it quickly became one of the market leaders. The company specializes in luxury cars, which influences the development of this segment. Its recently released new products have become real bestsellers in some countries and have significantly impacted the premium car market. This will be discussed in more detail in this article.
The development of technology, the growth of the economy of various countries, and global changes in the lifestyle of many people have led to the constantly increasing demand for luxury Lexus and other companies’ models. This contributes to the stable market growth for such vehicles and the formation of new trends. In 2024, the size of the luxury car market was $ 548.87 billion. This figure was the highest in history but will soon be exceeded. It is expected that in 2025, it will be possible to achieve an increase of 7% -8%, which will be a new record. A similar situation will be in the market for used luxury cars sold on Lexus RX 350 salvage auction and other similar online platforms.
The long-awaited compact SUV LBX, the updated premium minivan LM, the third-generation GX SUV and other vehicles have become a real sensation and further strengthened Lexus’ position in the global market. These models have enabled the company to influence the premium car segment’s development significantly. Thanks to their appearance, the size of the luxury model market has grown by more than 7% (compared to the previous reporting period), which was a surprise even for the manufacturers themselves.
New products from Lexus have become popular in different countries, but they have been especially popular with buyers from the Persian Gulf countries. For example, in the UAE and Saudi Arabia, sales volumes of the famous premium brand’s models have increased significantly compared to the previous year and have taken leading positions in various ratings. The same trend is observed in many other countries with a high standard of living. For example, Lexus’ market share in the US in 2024 was 2.15%, 0.09% more than in 2023 and 0.26% more than in 2022. In quantitative terms, the growth figures in the US seem even more impressive. Almost 346,000 Lexus vehicles were sold in 2024, 25,000 more than in 2023 and 87,000 more than in 2022.
Also, the Japanese company’s models are in demand on online platforms, where almost any used car can be bought. There, sales figures are always high, regardless of the demand for models from other manufacturers. In most cases, the main reasons for the growth in sales of new Lexus products are the maximum level of comfort, an abundance of technological innovations, and benchmark reliability and safety. In addition, buyers appreciate the unique design of Lexus cars.
According to various forecasts for the coming years, the luxury car market will steadily grow. Lexus cars, which the company plans to release between 2025 and 2030, will play a massive role in this process. Their presence in the model range will be one of the key growth factors for various indicators. Under the most pessimistic scenarios 2025, the premium car market is expected to grow by 7.5%-8.5%. This trend will continue until at least 2030. If the forecasts are correct, the luxury model market will reach $900 billion by the end of the current decade.
Such optimistic figures will become available due to the growing demand for new Lexus models and other well-known companies and essential factors such as market expansion, increasing brand prestige, and economic growth in some countries. In parallel with this, the used luxury car market will also grow, which is already available on online platforms such as AutoBidMaster.
Since its early days, Lexus has been a major player in the automobile market. Its luxury models have enjoyed significant demand on all continents and have been among the most sought-after vehicles in their class. Today, Lexus remains committed to its chosen development direction, which allows it to stay at the top of the market and significantly impact its development.
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