04.06.08 HIGHER FUEL PRICES SHAPE LUXURY CAR MARKET
Sales of Lexus hybrid luxury vehicles are running at record levels in the wake of rising fuel costs.
Lexus says sales of its hybrid models topped 470 at the end of May - up 11.6 per cent for the year-to-date over the same period last year.
The company expects total Lexus hybrid deliveries, following its first hybrid model launch in 2006, to pass the 2000-mark in the third quarter.
May sales figures also show that sales of the RX 400h hybrid SUV have surpassed 1200 units.
The GS 450h performance sedan has sold more than 500 units, and sales of the LS 600hL luxury saloon are approaching 100 units - just seven months after launch.
Lexus chief executive John Roca said that rising fuel prices were forcing a re-evaluation at all levels of the vehicle market.
"Increased sales of Lexus hybrid vehicles show that higher fuel prices are forcing a rethink of the vehicles we drive, even at the luxury end of the market," he said.
"While our customers can afford to pay more for petrol, the steep rise in fuel prices has sent a signal to everyone that oil is a finite resource.
"Lexus hybrids are widely accepted as an alternative to traditional petrol or diesel-engined vehicles, delivering real world economy and emissions benefits."
Mr Roca said hybrid sales in Australia are at a point where demand, particularly in the luxury market, is outstripping supply.
"If demand for hybrids continues at the current rate, Lexus will surpass the 2000 hybrid sales milestone much quicker than ever anticipated."
Mr Roca said Lexus was the only luxury manufacturer with the ability to satisfy customer demands by offering three hybrid models across three separate market segments.
"Lexus hybrids are clearly bucking the trend, forging a clear path towards more environmentally aware motoring without sacrificing power and driving enjoyment," he said.
"The biggest challenge we have in satisfying customer demand is restricted supply.
"Worldwide, Lexus is the only luxury manufacturer producing hybrid vehicles.
"While other manufacturers discuss potential future hybrid models, we are delivering real world alternatives to motorists."