Lexus targets a global market for its new luxury yacht

Mike Stones
By Mike Stones November 25, 2019 15:16

Lexus targets a global market for its new luxury yacht

Lexus’s new LY 650 comes with a price tag of $4.85m for a fully-optioned model.

Prestige carmaker Lexus is targeting a global market – particularly areas already familiar with its brand – for its debut luxury yacht; the 19.4-metre flybridge cruiser LY 650.

“Our current experience is that the market will, indeed, be global and the initial concentration of interest is proven to be widespread: from the US, Japan, Asia and across Europe,” a spokesman told Superyacht Investor. “In fact, the interested markets mirror, to an extent, those territories which have an existing familiarity with the Lexus brand.”

The LY 650 is designed to appeal to high net -worth and ultra-high net-worth households worldwide. Prices range from a base of $3.74m up to $4.85m for a fully-optioned model.

$4.85m for a fully-optioned model

Lexus’s entry into the luxury yacht market – facilitated by its partnership with US boat builder Marquis Yachts – traces its origin to the personal involvement of Akio Toyoda, president of the firm’s parent company Toyota Motor Corporation. Several years ago, Toyoda spent a few days driving a new range of luxury yachts soon to be launched in Japan.

“As a master driver, he was inspired by the potential of a stylish, premium, performance yacht with which to complement the Lexus lifestyle; something that could further stimulate the senses and enrich the lifestyles of our customers,” the spokesman told this website. With the LY 650, core Lexus traits have been combined with the skilled manufacturing technique provided by Marquis Yachts, delivering a product that strongly appeals to our existing customers.” 

Marquis Yachts has applied elements of the Toyota Production System to its boat-building processes for LY 650. This is said to combine high quality and skilled craftsmanship with efficiency and productivity, minimising the order-to-delivery time for customers. Developed between 1948 and 1975, the Toyota Production System (TPS) is an integrated socio-technical system, which aims to optimise the interaction between people and technology in workplaces.

‘Boat companies vastly outnumber buyers’

Marquis Yachts, President and CEO Robert John Parmentier highlighted the competitive nature of the luxury yacht sector. “The market is so small and so competitive,” said Parmentier. “We are all fighting for the same group of customers and boat companies vastly outnumber buyers.

“Compounding this reality, when you get to boats larger than 45 feet [13.7 metres], the market is even more competitive. Therefore, having a boat like LY 650 in shape, style, and features can cut through the crowded marketplace and stand out in the eyes of prospective buyers.”

Meanwhile, Lexus has no plans to launch larger yachts in the foreseeable future, the spokesman told Superyacht Investor.

The Lexus LY 650 ocean-going flybridge cruiser boasts compact but luxurious interiors.

Mike Stones
By Mike Stones November 25, 2019 15:16

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