Lexus debuts all-new ES sedans

Lexus, the luxury vehicle brand of Toyota Motor, launched its two new ES sedans -- the 2016 Lexus ES 300h and ES 350 -- in Korea on Tuesday, heating up competition in the premium mid and large sedan market here.

The all-new ES 300h is the latest version of Lexus’ best-selling hybrid sedan, while the ES 350 is built on a 3.5-liter V6 gasoline engine.

“Korean customers will be able to experience exceptionally elegant and technologically advanced ES sedans at reasonable prices,” said Lexus Korea CEO Akihisa Yoshida, who is also in charge of Toyota Korea.

In response to the heated competition in the segment, led by diesel-powered German cars, the company set the lowest price of the new ES premium hybrid sedan at 51.8 million won ($44,200), which is similar to the price tag of the previous model.

Regarding the sales goal, Yoshida said the company hopes to sell 400 units of the ES sedan per month, which will help sales of Toyota in Korea grow 10 percent this year over the previous year.

Along with the new car launch, Lexus will enter the used car business on Sept. 17 for further growth, launching its certified used car brand for Lexus preowned cars.

German luxury carmakers, including BMW and Mercedes-Benz, have already capitalized on the used car business as a new income source here.

By Seo Jee-yeon(jyseo@heraldcorp.com)