A MAJOR luxury car brand has slashed thousands of the price of most of its lineup, including a £7,000 cut on an entry-level model.
The manufacturer is making the cuts amid struggling EV sales – although one model won’t be affected.
The latest figures see the UK’s new car market struggling amid the zero-emission transition.
While there was a 1.1% bump in sales in 2023, this was mainly propped up by a 14% uptick in fleet sales.
Private sales actually floundered, with a 15.3% fall last year alone.
Now, Lexus is slashing the asking prices on much of its electric and hybrid lineup to help stimulate demand, according to Autocar.
The most notable cut is for the base-level UX 300e electric SUV, which will be reduced by £7,100 to a still hefty £40,795.
The larger RZ 450e has also seen its value fall by £2,100, leaving it at £57,895.
Likewise, both of the brand’s headline hybrid offerings, the NX 450h+ and RX 450h+, have both dropped.
The former has sunk by almost £5,000 to £49,995, while the later has seen a smaller cut from £67,100 to £63,995.
However, one model is set to be unaffected.
The LBX only went on sale this year and is one of the cheapest EV offerings from the company at just £29,995 so will not be seeing any reduction.
Despite the decline in general sales across the UK, Lexus is on course for one of its best years in the country.
The firm has sold 8,000 motors so far this year, putting it on track to beat last year’s record of 15,963.
The price cuts could well put it over the top, while also helping to secure its target for EVs to make up 22% of sales as required by the Government’s ZEV Mandate.
SunMotors has contacted Lexus for comment.
