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Article: Lexus fights back German resurgence.(Auto Weekend)
- Article from:
- The Washington Times (Washington, DC)
- Article date:
- March 13, 1998
- Author:
CopyrightCOPYRIGHT 1998 News World Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Entering its second decade, Lexus, Toyota's luxury division, is introducing new products to attract the driving enthusiast.
Lexus made a grand entrance in 1989 with the introduction of its first and initially only car, the LS400 luxury sedan. It was going up against tough competition.
Mercedes-Benz and BMW had enjoyed their best year of U.S. sales three years earlier, the era of yuppie conspicuous consumption; sales went downhill from there. German automakers and their dealers had grown arrogant. Product cycles were stretched, milking profits without further investment. Prices, partly due to currency fluctuations, skyrocketed.
Along ...