2014 Lexus GX 460 in Short Supply on Dealer Lots
- The 2014 Lexus GX 460 has been hard to find on dealer lots following a price cut, but Lexus promises that more are in the pipeline.
- Through the middle of this month, Lexus had only a nine-day supply of GX models in stock, Edmunds has learned.
- A Lexus executive said the plant in Japan is slowly increasing production.
DETROIT — Trying to find a 2014 Lexus GX 460 may be difficult for some car shoppers.
Since Lexus chopped $4,710 out of the sticker price for the base GX 460 in August, the SUV has been quickly rolling off dealer lots, Edmunds has learned.
Through the middle of this month, Lexus had only a nine-day supply of GX models in stock, up from four days at the end of December. Automakers and dealers consider a 60-day supply to be comfortable. Buyers have responded to a Lexus advertising campaign that offers the SUV (depending on down payment) for less than $500 a month.
While the base model "wasn't a large percentage of our total GX sales, it allowed our dealers to market that kind of price point," said Jeff Bracken, Lexus Group vice president and general manager. "It certainly has brought in some great traffic. Dealers have done wonderfully with GX. We just can't build them quick enough."
Bracken said the plant in Japan is slowly increasing production but "it will take us some time to build the supply up."
In an interview at the 2014 Detroit Auto Show, Bracken said "it will probably be April before we can recover to a level that is a little more healthy for our dealers, back to a 25, 30-day supply."
Lexus announced last August that the base GX model would sticker for $49,995 including $910 shipping, compared with $54,690 including $895 shipping for the 2013 model.
Besides cutting the base GX's sticker price $4,710, Lexus gave the 2014 SUV a slight exterior and interior makeover and reduced the standard equipment level. No longer standard on the base model are heated seats, rain-sensing wipers, a power-operated third-row seat and other equipment. A third-row seat remains standard but it is now raised/lowered manually.
Lexus last year averaged 1,005 GX sales per month, Bracken said. With the change in pricing, Lexus is averaging about 1,400 sales per month.
Edmunds says: If the Lexus GX 460 is on your short list, it may require a little hunting around to score one.