Toyota expects its Lexus brand to make money soon in Europe despite a very tough competitive environment and an unfavorable yen/euro exchange rate.
"Lexus can be profitable in two to three years even though production will remain in Japan," said Didier Leroy, the CEO of Toyota Motor Europe, on the sidelines of the Paris auto show
Leroy did not talk specifics about how much Lexus loses in Europe. A Lexus spokesman told Automotive News Europe
that the brand's profits in Europe hinge on its hybrid lineup, which accounts for 85 percent of its sales in western Europe and 60 percent of its sales in Russia.Read Article