Lexus sales in China increased slightly, accelerating electrification process

Lexus' sales in China in 2024 will be 180,000, a slight increase of 0.3% year-on-year, but its main models still rely on fuel vehicles. Faced with the competitive environment in which China's new energy penetration rate exceeds 50%, its pure electric model RZ has an annual sales of less than 20,000 units, and it urgently needs to reduce costs and accelerate iterations through localized production.