Lexus Lost Tons Of Cash By Leaving Russia

Whether that works remains to be seen, and for now, Lexus will no doubt be feeling the effects of losing its Russian market. In this year’s first quarter, which ended in April, Lexus sold only 1,738 cars in Russia. Based on the brand’s first-quarter statements, that adds up to a decline somewhere in the neighborhood of 76%. Luckily, Lexus has other footholds in Europe, like the UK.

There, Lexus managed to sell 13,840 units. While not as large a segment as Russia, it is a solid consolation prize for a brand now down a huge chunk of change due to Russian warmongering. Interestingly, Lexus is a well-liked brand in Eastern Europe. The brand’s third-largest European market last year was Poland, with 6,081 units sold there. For now, Lexus’ production capacity has not been significantly hampered by its departure from the Russian market.

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