Lexus LBX to be priced affordably to target younger buyers, lock in loyalty

The executive govt of Lexus Australia says the emblem’s incoming entry SUV, the LBX, would maybe be priced cheaply in an aggressive play to bring younger patrons into the emblem’s obtain of potentialities.

When the LBX is launched in Australia in mid-2024 because the smallest of the emblem’s six SUV models, Lexus will regard its product portfolio as being largely total.

The compact LBX is anticipated to drag its weight as an lovely entry point for the emblem that gets younger Australians bent on core Lexus virtues – quality and a straightforward ownership skills.

LBX to enter cheap luxury SUV section as Audi position to leave

“[The LBX] will give us the different to win younger other folks coming in for his or her first vehicle in the luxury pickle in the occasion that they’ll win that affordability,” Lexus boss John Pappas knowledgeable Chasing Autos.

“That younger buyer would maybe be in [a more affordable] ticket point. They’ll be both having a peek at a top price mass market or an entry-stage luxury [vehicle].”

Measuring factual 4190mm in length, the LBX is similar in size to an Audi Q2 (from $49,400 before on-highway charges) but very seriously smaller than a BMW X1 (4500mm prolonged, from $60,400).

The LBX makes employ of a 1.5-litre non-turbo three-cylinder petrol engine teamed with an phenomenal hybrid system. Mixed energy is 100kW, and AWD is optionally available.

Chasing Autos examined the LBX on a closed highway in unhurried 2023 and chanced on the little SUV to possess sharp dynamics and a extra sophisticated cabin than anticipated.

Circa-$50K mannequin would put loyalty sooner, Lexus says

Whereas Pappas would not title a files ticket at this early stage, we depend on to peek the LBX made available from around $50,000 before on-highway charges in Australia.

Introducing a less dear, smaller mannequin is a courageous pass for Lexus with a total lot of luxury rivals – together with Audi and Mercedes-Benz – position to abandon the section citing to profitability concerns. In the period in-between, BMW has seriously enlarged its X1 to charm to family patrons.

On the contrary, Pappas means that promoting a extra cheap Lexus mannequin is key to securing buyer loyalty at an earlier stage.

“[LBX buyers] will attain into the family and as their needs diversify, we possess now the product providing to compose them a Lexus buyer for existence,” he stated.

Even with some rivals position to leave the stage in the arriving years, the LBX will advance in a reasonably contested section in Australia. In 2023, Audi bought 1486 examples of the Q2 whereas Mercedes bought 1881 GLA-Class little SUVs.

Above the LBX, which shares some of its platform with the Toyota Yaris Spoiled, Lexus sells six bigger SUVs: the UX, NX, RX and LX, whereas the emblem will originate the Toyota Prado-aligned GX mannequin nearly simultaneously with the LBX.

“As prolonged as we…protect our portfolio of cars [and] our point of distinction with our noteworthy ownership skills, it is an different to alter into piece of the Lexus family for the very prolonged time duration.”

As well to being designed to entice a younger position, the LBX will salvage a significant 2d-automobile audience, with retirees mooted as one other defective by Pappas.