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Toyota developed the Lexus luxury car brand in the 1980s to target the market of affluent buyers who valued performance but not high prices. Lexus was priced much lower than Mercedes but offered similar luxury features. Lexus was very successful initially but then faced challenges as younger buyers and competitors attracted the "near luxury" segment. Toyota is now planning market research to understand current and potential luxury buyers to modify Lexus

Author

vijayaraj88

Language

EN