2023 Lexus RZ: US pricing…
The new Lexus EV is finally getting an official price. And it is $59 650. For the base “Premium AWD” model. (yes, the base model is called “premium”…). The more upscale “Luxury” version starts at $65 150. The extra $5000 gets you 20-inch wheels, a 13-speaker Mark Levinson sound system, and Ambient lighting.
The “Premium” version only gets a 220 miles range. While the “luxury” with the 20 inch wheels is rated at a terrible 196 miles!
The new Lexus is jumping into a pretty hot segment. Where the Cadillac lyriq is making efforts to be very competitive. A new base model for 2024 will start at $58 590. With a 308 miles range! Opting for the AWD version still gets you a 307 miles range. And let’s not forget the most popular model by far, the Tesla Model Y. Which currently starts at $55 000. The Model Y is loaded with AWD, a fantastic sound system, a glass roof, and a 330 miles range. The Lexus does not qualify for any federal incentives, while the Tesla and Cadillac both do.
That’s without mentioning other models from non-luxury brands, like the Hyundai Ioniq 5, Kia EV6, or Mustang Mach-E.
As we know, Toyota is doing everything it can to fight the coming EV wave. With a 196 miles range for a $65 000 crossover, they are basically making sure almost no one buys their new Lexus EV. Or a few brand faithful who will be interested in switching their RX lease to a new electric car that feels very familiar.
No, it won’t sink Toyota. They’re just too big of a company and they can afford mistakes. Even huge ones. I just wonder how much and how many potential buyers it will end up costing them in a few years.
Conversation 4 comments
It isn’t too bad looking, but the specs and price are totally off. The range is way too low for a car released in 2023. They have lost their minds with that. Minimum these days should be 250 or 300. And this is more expensive than the gorgeous new Lyriq. Toyota is proving that once again, they really don’t understand the EV market and don’t seem to want to change.
Oh, look. It’s the next HS200h!
Wow! What a joke. Lexus’s box checker. EV? ✅️
Weird and frumpy at the same time. Quite an accomplishment. Again, put the team that designed the new Prius in charge of all future product development and fire all the rest.