PESTEL analysis of automobile company Toyota
Lexus is a Japanese company, which produces automobiles. This company was founded by director of TOYOTA concern Eiji Toyoda in 1989. There are some key people in Lexus history like, Kazuo Ohara, Vince Socco and etc. Lexus was introduced for the first time in 1989 in the USA. In present, Lexus is the large-selling Japanese make of premium cars. Lexus’s vehicles are marketed in 70 countries. Lexus is one of the most successful brands in Japan. The headquarters of the company is located in Toyota, Aichi, Japan, but there is a have the branch in Brussels, Belgium and The USA.
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Get Help Now!Lexus originated from a clandestine flagship sedan project that began in 1983. This effort developed into the original Lexus LS, which was the first vehicle to wear the Lexus brand upon its launch in 1989. In following years, Lexus added sedan, coupe, convertible, and SUV models. In 2005, a hybrid version of the RX crossover debuted, and additional hybrid models were subsequently introduced to the Lexus line-up. In 2007, Lexus launched its f marquee performance division with the arrival of the IS F sport sedan.
From the start Lexus was produced in Japan on the Toyota’s factory and in its own factoriess in Chubu and Kyushu. The first outdoor factory was created in 2003 in Canada. Further, it was new factory in the USA which is the largest outside factory of Lexus.
The first Lexus project was implemented in 1983, when the chairman of Toyota motors Eiji Toyoda posed the question: “Can we create a luxury vehicle to challenge the world’s best?” This project had the code-name F1 (“Flagship”+number 1), the project’s aimed to create Lexus LS400. It is a flagship sedan, which was the first step of a new Premium car producer in Japan.
Total sales and production
Effect of Economic Environment
The Gross Domestic Product (GDP) in Japan expanded at an annual rate of 1.1 percent in the third quarter of 2010. From 1980 to 2010, Japan’s average quarterly GDP growth amounted to 0.55 percent reaching an historical high of 3.15 percent in June of 1990 and a record low of -4.45 percent in March of 2009. Japan’s industrialized, free market-oriented economy is the second-largest in the world. However, Lexus recovered its sales in the beginning of 2010 and determined an equilibrium price.
This graph shows that there was a dramatic decline in GDP growth rate in the middle of 2009, which means that overall income level of population was very low and people did not buy so many Lexus cars. Still, the next whole year the GDP growth rate started to stabilize and rose gradually reaching a point of 1.5 in January 2010. Then, the income level in the United States has risen, which affected all firms including Lexus.
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