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Saturday, 9 July 2011

Lexus to lose top spot in U.S. luxury market

CHICAGO (Reuters) - Toyota Motor Corp.'s Lexus brand will end its streak of 11 years as the top luxury brand in the U.S. market due to lost sales in the aftermath of the Japan earthquake and tsunami, said Mark Templin, Lexus Division general manager. Templin said Lexus U.S. sales will fall about 17 percent to around 190,000 vehicles in 2011. The United States is the biggest market for Lexus. All Lexus models, except the RX 350 crossover sport utility vehicle, are made in Japan. Templin said the Cambridge, Ontario, plant that makes the RX 350 will be back at full capacity in September.Vcommindia News
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