Japan’s luxury division of Toyota, expanding global reach and innovation
A wave of Chinese automakers is expanding into Europe and the UK, challenging traditional premium brands. Zeekr, BYD and others are pursuing UK launches while major players like Geely, Volvo and Lucid push into premium segments. European and US automakers are restructuring to cope with China’s rising export power and shifting supply chains.
Toyota Motor Corp has reported a strong first-quarter profit and higher sales, aided by a weaker yen and robust hybrid demand. The company warns of potential headwinds from Middle East tensions and a Kumamoto earthquake, but maintains its full-year profit forecast and plans to boost hybrid production through 2030.
July registrations hit a record for the month, driven by a surge in electrified vehicles. Pure battery electric cars rose by 44.5% year-on-year, while plug-in hybrids grew. Diesel and petrol registrations fell. Private and fleet buyers increased, and the industry warns that ongoing EV discounts are squeezing profits.
Toyota former president Hiroshi Okuda has died at 93. He led the company from 1995 to 2006, spearheading globalization, the Prius development, and a push for lean production. His tenure helped Toyota expand production worldwide and strengthen governance, even as criticism of Yen-driven profits persisted.
Genesis unveils the GV90, its first full-size electric SUV, signaling a bold push into premium markets. The Neolun variant with coach doors and a lounge-like cabin showcases high-end features as Genesis outlines its three pillars—luxury, performance and hospitality—while signaling a broader portfolio development.
Lexus has unveiled the eighth-generation ES at its Jeddah Center, marking a major upgrade alongside a redesigned showroom that blends art, architecture, and hospitality. Chief Engineer Kohei Chiashi says the model underwent repeated testing, with a focus on comfort and electrified powertrains. The event signals a new phase in Lexus' Saudi partnership.