Toyota's Luxury Arm, Lexus, Marks Exponential Growth In 2023, According To A Recent Report Made By The Company

A recent report made by Toyota's luxury brand, Lexus, shows a significant increase in sales for 2023, compared to the previous year. Although Lexus is one of the younger luxury carmakers, it is also one of the most consistent. Of course, we have Toyota's stellar reputation for reliability to thank for that, but also Lexus's ability to successfully reinvent itself time and time again.  

I think it's important to look at how one of the most popular Japanese brands fairs, especially in the North American market where Lexus has the most sales.  

Lexus sales for 2023 grew 32 percent compared to 2022. We are talking about 824,258 cars sold worldwide, with the largest percentage of those being sold in North America.

How many cars has Lexus sold in 2023, per region? 

In North America, alone, Lexus sold 355,606 units in 2023 – a 24 percent increase in sales compared to 2022. 

In China, things have remained largely the same. In 2023, Lexus sold 181,411, compared to 2022's 176,021 sales – an increase of 3.0 percent.  

For the rest of East Asia, Lexus marked a 65-percent increase, although the brand's market share in this region is relatively small. Still, Toyota's luxury arm sold 43,930 cars in 2023 compared to 2022's 26,693. 

In Europe, Lexus sold 69,202 cars in 2023, which is a 46-percent increase compared to the 47,304 cars sold in 2022. 

For 2023, Lexus marked a 60-percent increase in sales in the Middle East. The Japanese luxury brand sold 46,472 cars versus 28,967 during the previous year.  

Are Lexus-badged vehicles sold in Japan?  

Contrary to popular belief, yes. Since 2005, Lexus-badged vehicles have been sold in Japan too. Moreover, in its home, Japan, Lexus marked the biggest increase in sales for 2023, compared to 2022, with a 129-percent increase. This translates to 94,657 units sold versus 41,253 in 2022. 

How Lexus stacks up against other premium carmakers, in terms of sales? 

Many people say, Lexus is "the Japanese Mercedes-Benz", which is why Mercedes sales in the US are a good parameter to measure up against. In 2023, the German luxury carmaker sold 351,746 units in the US, which is an increase of 0.2 percent. On a global scale, Mercedes-Benz's 2.04 million sales in 2023 seem to far outmatch the demand for Lexus products. 

BMW is another case of large global demand, but a much smaller increase in sales. Still, 2.55 million units sold in 2023 versus 2.39 million in 2022, is a stout figure that beats the brand's main competitor, Mercedes-Benz.  

Acura is another Japanese luxury brand that's popular in North America. But while Acura saw a 42-percent increase in sales for 2023 compared to 2022, its 145,655 sales are nowhere near Lexus, let alone the German competitors. 

What is the most popular Lexus model? 

The Lexus RX seems to be the champion of the brand, with 114,033 units sold in 2023. To put things in perspective, Lexus RX was sold in 96,041 units in 2022.  

What makes Lexus RX the most popular model? 

Well, it is a luxury SUV with Toyota's proverbial reliability, distinctive styling, and seating for up to seven people. Moreover, the base-model Lexus RX350 starts at $49,950 and comes with plenty of standard features. Among those are the punchy, but efficient, 2.4-liter, turbocharged, inline-four engine.

The combined fuel economy for the base Lexus RX is 24 MPG (EPA), while hybrid models return up to 36 MPG. Safety is also high as the 2024 Lexus RX won the IIHS Top Safety Pick+ award. Prices for the 2024 Lexus RX can get over $70,000 for the range-topping model, but most trims are available for under $60,000. 

In conclusion, I would say that looking at the 2023 sales figures, Lexus is doing something right. Toyota and Lexus products are legendary for retaining their value. Moreover, the brand's offerings, which come with a wide choice of efficient and (in some cases) punchy engine options, combined with high reliability and safety ratings, are bound to secure a bright future for Lexus.  

About the author

Dimitar Angelov's automotive interests made him an expert in a wide variety of vehicles. Japanese brands like Toyota are closest to his heart, although performance cars in general are his favorite segment, which is why he is constantly on the lookout for the best deals on the market. Dimitar Angelov's car passion and knack for the written word led him to complete a Master of Arts in Media and Communications, and classic car restoration. Dim is happy to get behind the wheel of any car and share his impressions. You can follow Dimitar on X, Linked-in, Instagram, and Facebook.