Word: toyotas
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...NEWEST STATUS SYMBOL The two-seater Lexus LS-F, designed to compete with high-end European roadsters, will be the first car from Toyota to crack $100,000. --By Joseph R. Szczesny
...trade-off for performance and luxury used to be lousy gas mileage, and it still is for most cars. But eco-luxury has become the hottest trend in the auto industry, and the latest hybrids from both Honda and Toyota's LEXUS division are all about going green in pulse-racing style. Honda's new hybrid Accord, which went on the market in December, packs 255 h.p.--15 h.p. more than the conventional V6--and comes with luxuries like a leather-trimmed interior, heated front seats, power windows--and even an electronic noise-dampening system. Not to be outdriven, Lexus...
...also worth noting that few of the Asian firms that have succeeded overseas bought their way there. Japanese automakers Toyota and Honda enjoyed years of protected markets at home, then set up operations abroad that introduced new production techniques or superior engineering. In Korea, Samsung and Hyundai took decades to build respected brands. By contrast, electronics maker LG failed to establish a thriving business from its shortcut purchase of the TV brand Zenith?though it has recently been much more successful in penetrating global markets by pushing its own brand. Chinese acquirers will face similar challenges...
...gasoline and diesel are expected to account for nearly half of the country's oil demand. Last month Beijing approved its first fuel-efficiency standards for passenger vehicles, which will begin to take effect in 2005 and will be more stringent than those in the U.S. Toyota plans to manufacture the Prius, its hybrid gasoline-electric car, in China, where it hopes the clean vehicle will find a significant market. Beijing's government, meanwhile, is working to develop electric cars before 2008, and GM is working with the Shanghai Automotive Group on a hybrid-bus design...
That is the quandary facing the U.S. auto industry, particularly General Motors as it wrestles with how much to invest in hybrid gas-electric cars. Over the past year, as gas has hovered around $2 a gallon, hybrids made by Toyota and Honda have gained a small but growing following in the U.S. Though hybrids account for less than 1% of the estimated 17 million new cars to be sold this year, they could make up 3% of the market by the end of the decade and potentially as much as 20%, according to a study by consulting firm Booz...