Last Thursday Toyota held its annual holiday lunch for Detroit area media types, bringing in high level executives from all of its brands for the event. Lexus chief Jeff Bracken took the opportunity to say that Lexus will not follow Mercedes-Benz, whose CLA is selling well, into the sub $30,000 market. ”We will not head down below $30,000,” Bracken said. “We have Toyota and Scion to handle that price level for us.”
From its introduction in September through November, M-B has sold almost 11,000 of the compact front drive CLA, which has a MSRP of $29,900 before destination charges.
“They are off to a great start,” said Bracken. “They are really doing well, and it has probably not only impacted their overall volume with CLA, but also brought in some traffic for some of the other series that they represent, and clearly helping drive the luxury segment in total.”
Read Article