BERLIN (AFX) - Toyota Motor plans to double the marketing budget for its Lexus luxury car model in Europe, according to Toyota Europe head of sales Thierry Dombreval.
'We will double the Lexus marketing budget to 80 mln eur this year,' after a 25 pct increase last year, Dombreval told the Financial Times Deutschland in an article to appear in tomorrow's edition.
Toyota is increasing its Lexus sales efforts in a bid to capture market share from BMW, Mercedes and Audi but 'that will take time,' Dombreval said.
Toyota aims to sell 40,000 Lexus cars in 2006. newsdesk@afxnews.com afp/jlw COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited