MILAN – When Lexus five years ago began to investigate launching a smaller model designed to appeal to urban European buyers, one thing was clear from first market research: It would need to be a small crossover with a gasoline full-hybrid powertrain.
The result is the LBX, an Audi Q2 and Mini Countryman rival that European customers can start to configure on the Lexus website starting June 5. Orders will be taken from October, when prices will be announced. Average transaction prices are expected in the 35,000 to 37,000 euro ($37,500 to $39,500) range, Lexus executives said. Deliveries will begin in early 2024.
Europe is expected to get about 2,000 LBXs a month out of a 3,500-unit monthly total, Lexus International President Takashi Watanabe told Automotive News Europe in an interview last week.
About 1,200 units a month will be sold in Japan, where the LBX will be built, with the remaining 300 destined mainly for Australia and other Southeast Asian markers, he said. Lexus is not planning to sell the LBX in China and the United States.
The LBX is based on Toyota’s TNGA-B architecture, also used by the Toyota Yaris Cross small crossover, but with extensive modifications after a jump start in its design genesis.