Toyota Motor Corp. introduced the Lexus IS F luxury sports car in Japan as it seeks to spur sales of the brand.
The IS F, which will go on sale Dec. 25, will cost ¥7.66 million, the company said in a release Thursday. The IS F, based on the IS sedan, has a 5-liter V-8 engine.
The model will allow Toyota to compete with Porsche AG's Cayman, which costs ¥6.3 million to ¥8.3 million. Toyota aims to increase overseas sales of the Lexus brand by 6.6 percent to 470,000 vehicles this year. It aims to sell 40 IS F models a month domestically.
Best-selling boost
Helped by revamped models, Toyota Motor Corp. has increased its presence in the list of best-selling cars in Japan, grabbing 18 of the top 30 spots in the six months that ended Sept. 30.
It had 16 during the same period a year ago, the Japan Automobile Dealers Association said Thursday.
Honda Motor Co. had three models in the top 30, down from six, while Nissan Motor Co. held steady with five.
Toyota has introduced eight new or updated models so far this year, including the Noah and Voxy minivans, ranked eighth and 11th. Sales of both models grew 12 percent from the year-earlier period.
Honda plans to introduce a new version of the Fit compact, its best-selling car in Japan, later this month.
