I walked around my townhouse neighborhood in South Florida tonight (finally cooler out) and literally counted 18 RX350s and 13 IS350s all easily 1-2 or less years old. Have these cars become super affordable to lease, or is everyone just splurging from their potential equity in trade ins from their previous cars? I was just surprised how many I saw in my neighborhood. South FL in general Is filled with new/leased cars, but I’ve seen more Lexuses than ever the last few months.
Although Lexus does hold higher resale than its German counterparts, when I leased my previous cars, comparable Lexus were significantly higher than its German counterparts.
I am unsure if this might have to do with it, or the validity on how long was Toyota able to maintain its supply chain healthy, but perhaps Lexus had more inventory than German brands through 2020 resulting in you seeing them more often in your neighborhood. This article I read before basically states that Toyota had better emergency preparedness after the tsunami and other factory impact, resulting in a healthier supply chain while other manufacturers had heavier supply chain issues. How Toyota’s Supply Chain Helped It Weather the Chip Shortage - Bloomberg
On a positive note I read that Toyota should be returning to full production soon so hopefully we are seeing the end of this craziness.
Lexus of North Miami is one of the largest luxury dealers in the country. 5000+ units per year IIRC. That likely has something to do with it
The RX is by far the best selling suv, and has been forever.
They’ve usually leased pretty well, especially since luxury SUVs are so popular and tend to not lease well (as manufacturers don’t need to provide much support to get them off the lots).
I’d also bet that far more people are purchasing Lexus compared to mb, bmw, audi, etc. It’s pretty well known that you don’t want to own German luxury out of warranty, whereas Lexus is just a Toyota.
Believe it or not, people actually buy cars, not just lease
Don’t bet on that. Full production <> lots full of cars. It’ll still take months before lots fill up to meaningful levels, assuming there are no further delays down the line.
Lexus’ lease % numbers have been right up there for years now, sometimes exceeding some of the German brands
IS350’s and RX350’s were leasing cheaply last year and early this year. I saw plenty deals here for new IS350’s at sub 400 per month last year to early this year via brokers of course. RX350 also typically leases cheaper than the German’s in its class. That’s one of the reasons why they’re a dime a dozen in SFL.
Wow! Is there still any sub $400 deals around?
It’s south Florida and Lexus is mainly driven by the older retired folks. They’re a dime a dozen in Miami/Ft Lauderdale.
Deals are no longer to be had in this market
Not on anything wearing an L badge.
Negatory.FL has some of the highest volume stores in the U.S but not much incentive to blow em out.
no lol, you missed that boat.
For some perspective, we just turned in a leased 18’ RX that was $520/ month with literally $0 DAS. The same MSRP was nearly $800/ month now and that’s with tax credits and a small incentive, $1000 IIRC. Wife really likes the RX so we bought a new one applying her lease equity.