Toyota Motor Corp.’s profit per vehicle in China for its luxury Lexus brand has eclipsed that of the U.S., where it has been forced to increase incentives following record recalls earlier this year.
Even after China’s import duties and higher taxes on luxury cars, Lexus currently earns more per car in the world’s largest auto market, said Karl Schlicht, head of the marque’s global product and marketing division, citing a weaker dollar. Premium pricing in China and the higher incentive spending in the U.S. are also factors, analysts said.
The Lexus LS600hL, the brand’s flagship hybrid sedan, has a base price of 2.07 million yuan ($311,000) in China, compared with $110,000 in the U.S.
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