Latest news with #Lexus
New Straits Times
4 hours ago
- Automotive
- New Straits Times
Despite tariffs, it's still America first for Asia's legacy carmakers
TOYOTA and Hyundai Motor may have a beef with United States protectionism, but they have one thing in common with President Donald Trump: when it comes to global car markets, it's America first for Asia's legacy carmakers. Trump's tariffs on imported automobiles have upended the outlook for the global industry, yet the US remains by far the most important market for Japan's Toyota, South Korea's Hyundai and Asian rivals, including Honda and Nissan. North America accounts for at least 40 per cent of the revenue at both Toyota and Hyundai, filings show. The market's importance was unlikely to change any time soon, said industry insiders and analysts, especially with China, now the world's biggest auto market, dominated by homegrown electric vehicle makers such as BYD. Those Asian legacy carmakers with more robust margins and a strong hybrid line-up — such as Toyota, Hyundai, Kia Corp and to a lesser extent Honda — were more likely able to weather the US tariffs storm, and potentially take market share from weaker players like Nissan, analysts said. "The environment that we're in now is becoming increasingly harsh and uncertain, starting with US tariffs," Mazda executive officer Noriyuki Takimura said. Mazda aimed to strike a balance between "defensive" measures like cost-cuts and "offensive" ones like strengthening its product line-up, he said. Two Hyundai insiders and two Japanese auto executives separately said they had no intention of downsizing their US businesses in response to tariffs, even as they acknowledged the difficulties ahead. The US is Toyota's biggest market in terms of vehicles. It sold 2.3 million vehicles there in 2024, including its Lexus brand, accounting for more than a fifth of its global total. As a source of revenue, North America was second only to Japan in the last financial year. Hyundai's North American revenue was the highest in almost a decade last year. Kim Chang-ho, an analyst at Korea Investment & Securities, estimated it generated around 60 per cent of its profits from the US, thanks to higher vehicle prices. "After years of putting in effort, our brand is finally gaining recognition in the US," said one Hyundai insider. "So we will not take our hands off the US." The US has seen a surge in demand for hybrids as consumers have become more concerned about the battery range, price and charging hassles of electric vehicles. Fuel-efficient models such as hybrids would be a key driver to gaining market share, said Morningstar analyst Vincent Sun. Toyota, Hyundai and Kia have particularly strong hybrid offerings. So far, most legacy Asian carmakers had avoided raising prices in the US and stronger players were likely to continue to hold off doing so, despite lower profitability, said analysts. Instead, the focus would likely be on taking market share from lower-margin rivals like Nissan and Stellantis, they added. Over time, tariffs could be a catalyst to help drive consolidation in the industry, or at least deepen existing tie-ups. Investors wonder if tariffs could push Nissan to revive merger talks with Honda that fell apart this year. Mazda, which is 5.1 per cent owned by Toyota, and Subaru, which is 21 per cent owned by Toyota, could become more reliant on the bigger company. While Hyundai and Kia have three US factories, they still import about two-thirds of the vehicles sold there. Toyota manufactured 1.3 million vehicles in the US last year, equal to 54 per cent of the vehicles it sold there. Japanese carmakers have invested more than US$66 billion in US manufacturing since the 1980s, building some two dozen plants, according to the JAMA auto lobby group. At a White House event attended by Trump in March, Hyundai announced a US$21 billion investment plan, including a new steel factory, and a plan to boost US production capacity to 1.2 million vehicles a year. The tariffs were likely to encourage Japanese and South Korean carmakers to invest more into expanding production capacity and localising supply chains to protect their positions, said Justinas Liuima of research firm Euromonitor International. They would also continue to benefit from one aspect of US protectionism: higher tariffs on Chinese EVs, which means they don't face the same Chinese competition in the US that they do in emerging Asian markets, he said. The writers are from Reuters
The Sun
8 hours ago
- Automotive
- The Sun
Asia automakers still back US, tariffs or not
TOKYO: Toyota and Hyundai Motor may have a beef with US protectionism, but they have one thing in common with President Donald Trump: when it comes to global car markets, it's America first for Asia's legacy automakers. Trump's tariffs on imported automobiles have upended the outlook for the global industry, yet the US remains by far the most important market for Japan's Toyota, South Korea's Hyundai and Asian rivals including Honda and Nissan. North America accounts for at least 40% of the revenue at both Toyota and Hyundai, filings show. The market's importance is unlikely to change any time soon, industry insiders and analysts said, especially with China, now the world's biggest auto market, dominated by homegrown electric vehicle makers such as BYD. Those Asian legacy carmakers with more robust margins and a strong hybrid lineup such as Toyota, Hyundai, Kia Corp and to a lesser extent Honda – are more likely able to weather the US tariffs storm, and potentially take market share from weaker players like Nissan, analysts said. 'The environment that we're in now is becoming increasingly harsh and uncertain, starting with US tariffs,' Mazda executive officer Noriyuki Takimura told reporters at an event in Tokyo last week. Mazda aims to strike a balance between 'defensive' measures like cost-cuts and 'offensive' ones like strengthening its product lineup, he said. Two Hyundai insiders and two Japanese auto executives separately told Reuters they had no intention of downsizing their US businesses in response to tariffs, even as they acknowledged the difficulties ahead. All four spoke on condition of anonymity. The US is Toyota's biggest market in terms of vehicles. It sold 2.3 million vehicles there in 2024 including its Lexus brand, accounting for more than a fifth of its global total. As a source of revenue, North America was second only to Japan in the last financial year. Hyundai's North American revenue was the highest in almost a decade last year. Kim Chang-ho, an analyst at Korea Investment & Securities, estimated it generates around 60% of its profits from the US, thanks to higher vehicle prices. Mocked in the US in the 1980s for its perceived shoddy quality, Hyundai doubled down there around a decade ago, especially after tensions between Beijing and Seoul, and the rise of domestic EV makers saw it start to lose ground in China. 'After years of putting in effort, our brand is finally gaining recognition in the US,' one of the Hyundai insiders said. 'So we will not take our hands off the US' The US has seen a surge in demand for hybrids as consumers have become more concerned about the battery range, price and charging hassles of EVs. Fuel-efficient models such as hybrids will be a key driver to gaining market share, said Morningstar analyst Vincent Sun. Toyota, Hyundai and Kia have particularly strong hybrid offerings. So far, most legacy Asian automakers have avoided raising prices in the US and stronger players are likely to continue to hold off doing so, despite lower profitability, analysts said. Instead, the focus will likely be on taking market share from lower-margin rivals like Nissan and Stellantis, analysts said. 'It will shape up like a game of chicken,' said Kim Sung-rae, an analyst at Hanwha Investment & Securities. 'Those who will hold up well will emerge as winners.' Over time, tariffs could be a catalyst to help drive consolidation in the industry, or at least deepen existing tie-ups. Investors wonder if tariffs could push Nissan to revive merger talks with Honda that fell apart this year. Mazda, which is 5.1% owned by Toyota, and Subaru, which is 21% owned by Toyota, could become more reliant on the bigger company. While Hyundai and Kia have three US factories, they still import about two-thirds of the vehicles sold there. Toyota manufactured 1.3 million vehicles in the US last year, equal to 54% of the vehicles it sold there. Japanese automakers have invested more than US$66 billion (RM281 billion) in US manufacturing since the 1980s, building some two dozen plants, according to the JAMA auto lobby group. At a White House event attended by Trump in March, Hyundai shared a US$21 billion plan to build a steel plant and raise US output to 1.2 million cars a year. The tariffs are likely to encourage Japanese and South Korean automakers to invest more into expanding production capacity and localising supply chains to protect their positions, said Justinas Liuima of research firm Euromonitor International. – Reuters
USA Today
8 hours ago
- Automotive
- USA Today
Setting the Standard: Lexus of Oakville Receives 2025 Consumer Choice Award
Lexus of Oakville, a destination dealership renowned for delivering the ultimate Lexus ownership experience, has been recognized with the 2025 Consumer Choice Award in the Automobile Dealers – Lexus category for the Greater Toronto Area. This award underscores the dealership's commitment to setting the standard in luxury vehicle sales and service, providing customers with refined care and a journey that lives up to the craftsmanship of the Lexus brand. Conveniently located in Oakville and proudly serving drivers across the GTA, Lexus of Oakville has built its reputation on more than just selling vehicles – it's about elevating every interaction to match the sophistication and innovation that Lexus drivers expect. From first inquiry to long-term maintenance, the dealership's team is dedicated to making every visit smooth, welcoming, and memorable. Delivering More Than Cars: Delivering the Lexus Experience At Lexus of Oakville, the mission is simple yet ambitious: to offer an unparalleled customer experience at every stage. Whether exploring the award-winning Lexus lineup, finalizing the perfect purchase, or returning for routine service, guests can count on personal attention and a standard of hospitality that's second to none. 'Anyone can sell a car, but very few can deliver a true Lexus experience,' said Mike Mahaffy, General Manager at Lexus of Oakville. 'Receiving the Consumer Choice Award means so much to our entire team because it reflects the trust our guests place in us. We're proud to keep setting the benchmark for what a luxury dealership should be – welcoming, transparent, and dedicated to every guest's satisfaction.' A Showroom That Embodies Luxury and Innovation Step inside Lexus of Oakville and it's clear why drivers feel at home. The dealership's bright, modern showroom reflects the Lexus design ethos: sophisticated, calming, and purposeful. Guests are welcomed by knowledgeable product specialists ready to answer questions, demonstrate features, and guide shoppers through every option available. From elegant self-charging hybrids to exhilarating F SPORT models, the dealership showcases the full Lexus range – each vehicle presented with care and expertise. Personalized Care, Every Time The Lexus of Oakville team believes the buying experience should feel effortless and respectful. Guests are encouraged to test drive, ask questions, and take the time they need to choose the right vehicle without any pressure. After purchase, the experience continues with factory-trained service technicians, concierge support, and amenities that make routine maintenance something to look forward to. Appointments are easy to book, service bays are equipped with the latest diagnostic technology, and every detail is designed to reflect the brand's dedication to excellence. Investing in Team and Community Part of what sets Lexus of Oakville apart is the dealership's ongoing investment in staff training, state-of-the-art facilities, and community involvement. Every team member, from the sales floor to the service centre, undergoes regular training to maintain the highest level of product knowledge and customer service. Outside the showroom, Lexus of Oakville supports local charities, community events, and initiatives that enrich the Oakville and broader GTA region. This commitment ensures the dealership is more than just a place to buy a luxury vehicle – it's a trusted neighbour and partner. Driving Into the Future As Lexus continues to lead the way in hybrid and electric vehicle technology, Lexus of Oakville is expanding its lineup and investing in advanced service tools and guest experiences to match. The dealership is excited to help new and returning guests navigate the future of sustainable luxury driving while maintaining the care and attention that have earned them this Consumer Choice Award. Setting the standard today – and raising it for tomorrow – Lexus of Oakville remains dedicated to delivering an experience worthy of the Lexus badge. Experience It for Yourself To explore the Lexus lineup, book a test drive, or learn more about service options, CLICK HERE or visit or stop by the Oakville showroom. About Consumer Choice Award: Consumer Choice Award has been recognizing and promoting business excellence in North America since 1987. Its rigorous selection process ensures that only the most outstanding service providers in each category earn this prestigious recognition. Visit to learn more. Contact Information: Sumi Saleh Communications Manager ssaleh@ SOURCE: Consumer Choice Award View the original press release on ACCESS Newswire
Miami Herald
8 hours ago
- Automotive
- Miami Herald
Setting the Standard: Lexus of Oakville Receives 2025 Consumer Choice Award
OAKVILLE, ON / ACCESS Newswire / July 15, 2025 / Lexus of Oakville, a destination dealership renowned for delivering the ultimate Lexus ownership experience, has been recognized with the 2025 Consumer Choice Award in the Automobile Dealers - Lexus category for the Greater Toronto Area. This award underscores the dealership's commitment to setting the standard in luxury vehicle sales and service, providing customers with refined care and a journey that lives up to the craftsmanship of the Lexus brand. Conveniently located in Oakville and proudly serving drivers across the GTA, Lexus of Oakville has built its reputation on more than just selling vehicles - it's about elevating every interaction to match the sophistication and innovation that Lexus drivers expect. From first inquiry to long-term maintenance, the dealership's team is dedicated to making every visit smooth, welcoming, and memorable. Delivering More Than Cars: Delivering the Lexus ExperienceAt Lexus of Oakville, the mission is simple yet ambitious: to offer an unparalleled customer experience at every stage. Whether exploring the award-winning Lexus lineup, finalizing the perfect purchase, or returning for routine service, guests can count on personal attention and a standard of hospitality that's second to none. "Anyone can sell a car, but very few can deliver a true Lexus experience," said Mike Mahaffy, General Manager at Lexus of Oakville. "Receiving the Consumer Choice Award means so much to our entire team because it reflects the trust our guests place in us. We're proud to keep setting the benchmark for what a luxury dealership should be - welcoming, transparent, and dedicated to every guest's satisfaction." A Showroom That Embodies Luxury and InnovationStep inside Lexus of Oakville and it's clear why drivers feel at home. The dealership's bright, modern showroom reflects the Lexus design ethos: sophisticated, calming, and purposeful. Guests are welcomed by knowledgeable product specialists ready to answer questions, demonstrate features, and guide shoppers through every option available. From elegant self-charging hybrids to exhilarating F SPORT models, the dealership showcases the full Lexus range - each vehicle presented with care and expertise. Personalized Care, Every TimeThe Lexus of Oakville team believes the buying experience should feel effortless and respectful. Guests are encouraged to test drive, ask questions, and take the time they need to choose the right vehicle without any pressure. After purchase, the experience continues with factory-trained service technicians, concierge support, and amenities that make routine maintenance something to look forward to. Appointments are easy to book, service bays are equipped with the latest diagnostic technology, and every detail is designed to reflect the brand's dedication to excellence. Investing in Team and CommunityPart of what sets Lexus of Oakville apart is the dealership's ongoing investment in staff training, state-of-the-art facilities, and community involvement. Every team member, from the sales floor to the service centre, undergoes regular training to maintain the highest level of product knowledge and customer service. Outside the showroom, Lexus of Oakville supports local charities, community events, and initiatives that enrich the Oakville and broader GTA region. This commitment ensures the dealership is more than just a place to buy a luxury vehicle - it's a trusted neighbour and partner. Driving Into the FutureAs Lexus continues to lead the way in hybrid and electric vehicle technology, Lexus of Oakville is expanding its lineup and investing in advanced service tools and guest experiences to match. The dealership is excited to help new and returning guests navigate the future of sustainable luxury driving while maintaining the care and attention that have earned them this Consumer Choice Award. Setting the standard today - and raising it for tomorrow - Lexus of Oakville remains dedicated to delivering an experience worthy of the Lexus badge. Experience It for YourselfTo explore the Lexus lineup, book a test drive, or learn more about service options, CLICK HERE or visit or stop by the Oakville showroom. About Consumer Choice Award:Consumer Choice Award has been recognizing and promoting business excellence in North America since 1987. Its rigorous selection process ensures that only the most outstanding service providers in each category earn this prestigious recognition. Visit to learn more. Contact Information:Sumi SalehCommunications Managerssaleh@ SOURCE: Consumer Choice Award
Daily Mirror
9 hours ago
- Automotive
- Daily Mirror
One popular car brand makes up half of the top 10 most stolen vehicles in UK
New data from the DVLA has revealed that the most stolen car by proportion of models available is now no longer the Range Rover Motorists have been told that one particular brand of car is proving more popular than anything else for thieves. While in the past thieves were targeting Range Rovers, produced by Jaguar Land Rover, new data has suggested they are now going after Lexus cars instead. Data from the DVLA, the Driver & Vehicle Licensing Agency, shows that five Lexus cars are in the top 10 cars most likely to be stolen. The DVLA assessed stolen car data from 2024, a year in which more than 61,000 cars were stolen, to come to the conclusion. Their data found that whilst the most stolen car was also the UK's most popular second-hand car, the Ford Fiesta, they noticed that cars made by Lexus made up a significant proportion of the thefts as opposed to sheer number. What this means in practice is that while the Ford Fiesta was the most stolen car by volume, in terms of proportion of thefts to vehicles produced it was much lower as a percentage. Their research, that ranks stolen cars as proportion of the total number registered, discovered that the Lexus ES 300 was the car most likely to be stolen in 2024 with one in 30 of the vehicles stolen. Other Lexus models included in the list were the Lexus RX 450, LC 500, UX 250 and NX 300, reports Autocar. Following the announcement of the results, a spokesperson for Toyota, who own Lexus, said: 'Toyota GB has invested millions of pounds in a variety of security solutions. Our anti-theft measures form part of a nationwide customer care offering. 'For example, at a cost of more than £10million to Lexus, selected customers were provided with a free Tracker vehicle location service. 'As a result, a 96% recovery rate has been achieved. We have subsequently rolled out Tracker installation as an option for buyers of certain models.' Although the new data is sad reading for those who may own a Lexus it demonstrates the progress made by Jaguar Land Rover to protect their cars in recent years, with the vehicles now some of the most protected in the country. In a separate statement, head of police liaison at Tracker Clive Wain added that while progress had been made by the British brand that there was still more work to be done to stop stolen cars leaving the country. He explained: 'Lexus is making considerable efforts to protect its customers' cars but JLR suffered a rise in thefts sooner than it and so has had more time to react and develop solutions. 'However, its cars are still being stolen. There is a thriving market overseas for Lexus, JLR and other premium vehicles and we recover many at docksides.'
