Shanghai (ZXZC)-Toyota’s luxury brand Lexus reported a year-on-year sales jump of 10.2% with 17,736 vehicles sold in China in September. The sales for the first nine months totaled 144,590 units, an increase of 22.8% from the prior-year period.

Of that, 5,599 HEVs were sold in September, accounting for 31.6% of the total monthly sales. The HEV year-to-date sales in the world’s largest auto market stood at 48,065 units, up by 31.8% year on year. 

(Photo source: Lexus)

Lexus has been reaping an excellent sales performance in China in recent years. It has maintained steady sales growth since its entering into the Chinese market with an overall sales volume exceeding 1 million units. In 2018, the luxury brand’s China sales amounted to 160,500 units, surging 21% over the previous year, despite China’s first-time sales downturn in nearly thirty years.   

Based on last year’s robust growth, Lexus set a sales goal of 200,000 units for 2019, of which 72.5% has been completed during the first three quarters. It is in all probability that Lexus will accomplish this target as Q4 is a conventional sales peak season in domestic auto market and its sales are growing as well.

As to HEVs, both the share and the growth rate are rising. It reflects that increasingly more consumers in China are in favor of energy-saving NEVs. On the other hand, it is proved that Lexus’s hybrid products and technologies gain recognition from more Chinese users.

However, the Japanese brand’s increasing price upon delivery and raising the guiding price for other excuses in Sept. have raised complaints from customers. But the September sales suggest the rise in price hasn’t stopped the growing trend. It is mainly attributed to its competitive high-quality products, reliable after-sales service, and high RV (residual value).