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Why hasn’t Lexus been sold well in Europe? - An international Comparative Study on Luxury Car Market
Submitted by HIROMI SHIOJI, Kyoto University on 30 mars 2015 - 17:45
Type de publication:Conference Paper
Source:Gerpisa colloquium, Paris (2015)
1. Research Question
This paper focuses on the international comparative study on luxury car market in developed country. Especially we are interested in the reason why on the one hand Lexus has been sold relatively well in U.S.A., on the other hand it has not been sold well in Europe. And this is our research question.
In order to clarify this research question, we firstly try to analyze the characteristics of Lexus as a luxury model. Secondly we compare the characteristics of the luxury market in Europe with that in U.S.A.
2. Overview of Lexus Sales worldwide
Last year Lexus sold around fifty thousand of its vehicles worldwide. They sold twenty five in U.S.A. And they sold five thousand vehicles in Europe, China and Japan respectively.
3. Lexus Sales in U.S.A.
Lexus started its sales in U.S.A. in 1989. Its sales in U.S.A. have been increasing gradually. Late 1990s Lexus sales topped BMW and Mercedes. Lexus also has been able to grab the market share from American brands such as Cadillac and Lincoln. Lexus could let American people to perceive the high quality and performance of Lexus.
4. Lexus Sales in Europe
Lexus started its sales in Europe in 1993. Comparing to U.S.A., however, its sales have stagnate for twenty years. The biggest reason Lexus sales have stagnated in Europe is that they failed to build their brand equities in Europe. They have not been able to differentiate their own position in order to counter with the European brands such as BMW, Audi and Mercedes.
In this clause, we offer some implications clarified in this paper.