Increasing emphasis on maintaining industry-leading residual values for Lexus cars in the UK is reflected in the internal appointment of Andy Simpson as the company’s first National Corporate and Re-marketing Manager.
“The quality and longevity of Lexus product provides us with strong positioning in the used vehicle market,” says Andy, whose previous responsibilities as National Corporate Sales Manager remain unchanged by the move. “A successful used-car business is key to maximising both long-term profitability and return on investment from Lexus Centres.”
Andy’s existing Corporate Sales department consists of a management team of four plus
25 Corporate Sales Specialists based at Lexus Centres covering the UK. Andy will now also work closely with Vince Everard and Ian Bullock of the Toyota GB Vehicle Re-marketing Department, which provides significant support and guidance for Lexus used car operations. He is also responsible for leading the company’s used car business development group.
With demand for its used vehicles generally outweighing supply, and volume of new product sold each year comparatively small, Lexus’s buoyant residuals profile is maintained through careful management of used car re-marketing combined with a strong Approved Used Car programme – which Andy Simpson intends to review shortly.
Unusually high levels of equipment as standard on Lexus cars also reinforce residuals and cut disposal lead-times. The entire Lexus range attracts highly competitive residual value ratings from the leasing industry.
“The launch of the IS200 four years ago boosted the number of Lexus Approved Used Cars on the market, but even though our reputation for quality, reliability and service makes us the fastest-growing luxury car brand in the UK, our aspirations for growth remain relatively conservative,” says Andy.
“We’re more interested in introducing new products to new market sectors than in aggressive penetration of existing segments. This approach will enable us to maintain our residuals advantage.”