Hyperdrive
Lexus Tops Mercedes, BMW as Production Squeeze Hits Luxury Sales
- Toyota’s luxury line outsold German rivals in third quarter
- Lexus NX, RX SUVs drove 2% sales growth from July to September
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Toyota Motor Corp.’s Lexus brand outsold luxury rivals Mercedes and BMW in the latest quarter as inventory shortages triggered by the pandemic hampered the German brands.
Lexus, which hasn’t won the annual U.S. luxury sales race in a decade, grew 2% on the year to 75,285 vehicles in the third quarter. Deliveries at Daimler AG’s premium line declined 9.4% to 69,631 units, and BMW AG suffered a 16% decline to 69,570. Mercedes is still leading the other two carmakers year-to-date by a wide margin.