Elise Hits Our Shores with Toyota
Engine The first new Lotus to be sold in the U.S. in fifteen years appears in May, and it's coming with a Toyota engine. When the 2005 Lotus Elise hits showrooms this spring, the 1975-pound roadster will come with a Toyota-sourced 1.8-liter four-cylinder engine worth 190 hp and 138 lb-ft of torque, which Lotus says catapults the tiny two-seater to 60 mph in less than five seconds and to a top speed of nearly 150 mph. Air conditioning, anti-lock brakes, power windows, dual airbags and a Blaupunkt AM/FM/CD player are standard. The six-speed manual gearbox also is sourced from Toyota. Pricing starts from $39,985.
Scion Breaks Out Nationwide
Toyota's fledgling Scion brand is now hitting both coasts, and accessories are growing for the brand-within-a-brand, too. Scion vehicles are now on sale in 23 states at 383 dealers stretching from California to the east coast, Toyota says. While the brand hasn't appeared yet in the Midwest or mountain states, Toyota is expected to finish rolling it out by the end of the year. With the xA and xB models being joined by the tC coupe, Scion is also boosting Toyota's sales of aftermarket parts. Scion offers about 40 custom accessories, from alloy wheels, carbon-fiber appliqus, sport pedals, shift knobs and interior lighting kits to under-hood items like cold air intakes and strut tower braces. Toyota Racing Development (TRD) also offers a lineup of Scion performance parts including 18- or 19-inch wheels and tires, a lowering kit, a performance clutch, strut tie bar and sport exhaust, as well as a quick-shift kit for the xB.
Toyota's Bigger than Ford
Size does matter, when it comes to global car sales. And news reports from Dearborn and Tokyo made it official in January: Toyota Motor Corp. is now the second biggest car company in the world. Toyota says it sold about 6.78 million vehicles in 2003, up 9.9 percent. Meanwhile, Ford's sales slipped 3.6 percent to 6.72 million vehicles, giving Toyota the room to squeeze ahead. However, Ford's totals don't include Mazda, which it owns a controlling stake and which sold about a million cars in '03.
Rock Music Out at Mitsubishi
The catchy Mitsubishi ads featuring rock music from the likes of Dirty Vegas are history, says Mitsu's new U.S. boss Finbarr O'Neill. O'Neill says the hot ads haven't helped Mitsu sales a whole lot: "We're not going to do rock videos," he says. While the ads did help sell cars, a lot of them were sold for nothing down and no payments for a year-a financial blunder that's cost Mitsubishi about $400 million in bad loans. From now on Mitsu's focusing on mainstream ads and products, like the upcoming replacement for the Eclipse coupe due later this year.
Lexus Looking at IS for More
Models Lexus is looking at the top and bottom of its product lineup to boost its sales volume, according to The Wall Street Journal. Lexus chief Denny Clements tells the Journal that the new IS series of cars, due to be replaced within the next few years, could gain more models as Toyota tries to pit the Lexus brand even more aggressively against BMW and Mercedes. Lexus also could gain more models above the $70,000 range of the current LS 430 sedan. Lexus sold a total of 259,755 vehicles last year, up 11% from 2002; Clements says his goal is for Lexus to sell 350,000 vehicles a year within the next five years.