Toyota Motor Corp.
’s Lexus luxury brand aims to grow as much as 10 percent annually for the next 30 years as it expands in the U.S., its biggest market, as well as in emerging markets in Asia and South America.
“I’m trying to get to nice methodical growth,” said Mark Templin, the executive vice president for the unit, in an interview in Detroit on Tuesday. “First and foremost, I want to establish the brand. If you get that right, the volumes will follow.”
Lexus expects the biggest volume gains to come from the U.S., even as emerging markets reduce the American share of the unit’s global deliveries, Templin said.The unit will expand U.S. sales by adding high-priced cars rather than by following German competitors racing to add sub-$30,000 models, said Jeff Bracken, the brand’s U.S.
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