Tuesday, July 16, 2024

Lexus Slashes Prices for Electric Vehicle Lineup in UK

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Toyota’s subsidiary has announced significant price cuts across its electric vehicle (EV) range in the UK, marking a strategic move to enhance market competitiveness amid shifting political landscapes.

The luxury arm of Toyota, known for its innovation in sustainable mobility, has notably reduced prices on its entry-level electric model, the UX 300e, by as much as £7,100. The starting price now stands at £40,795, positioning it more competitively in the growing EV market.

In addition to the UX 300e, the RZ 450e standard model sees a reduction to £57,895, down £2,100 from its previous price in April, reflecting the brand’s commitment to making electric mobility more accessible.

Further adjustments include the hybrid models NX 450h+ and RX 450h+, both receiving price cuts to £49,995 and £63,995 respectively. These reductions aim to attract consumers seeking premium plug-in hybrid electric vehicles (PHEVs).

However, the newly introduced hybrid LBX, priced at £29,995 earlier this year, remains unaffected by these adjustments, maintaining its market position.

The decision comes amidst recent political shifts in the UK, following the election outcome that saw the Labour Party promising to reinstate the 2030 ban on combustion engines. This policy shift underscores a renewed focus on modernizing the country’s transport infrastructure.

As Autocar reported, “Rebuilding Britain means modernising our transport infrastructure,” emphasizing the Labour manifesto’s commitment to addressing long-standing challenges in transportation projects.

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