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Top U.S. Luxury Brand Lexus Predicts Another Year of Record Growth in 2002

January 7, 2002

Despite a predicted contraction in luxury vehicle sales in 2002, as well as an estimated 8 percent drop in overall vehicle sales, Lexus in 2002 will outperform its record year, Dennis Clements, the brand's top U.S. executive, told The Wall Street Journal in an interview.Clements said he had no specific numbers, but ofthe 223,983 vehicles Lexus sold in 2001, he said "we'll do better than that."According to Clements, the luxury market will contract slightly to 1.62 million vehicles in 2002 from the estimated 1.67 million vehicles sold in 2001.Meanwhile overall U.S. light vehicle sales will fall in 2002 to 15.8 million units from 17.18 million in 2001, according to the predictions of industry analysts.
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