I paid $500 over invoice for my Coach edition in March 2001. My dealer, Concord Lexus, told me invoice price was $30,600, not including destination. I called two other Lexus dealers to confirm invoice. Both said invoice was $30,600. So, I don't think they lied to me. I figure with the hold back, $600, I left $1,100 on the table. That's a little over 3%. I guess not to bad for a car in demand.
The day I picked mine up, three other customers were picking up their new ES also. When I bought mine, end of first quarter, salesman was very eager to sell a car. I think the dealership was more concerned about moving volume rather than profit margin. They probably had ordered a "ton" of coach editions and wanted to move them so they could take advantage of "hold back".
If the new design does not meet customer expectations, I suspect there may be a run on the existing ES inventory. Dealers may be less likely to deal. Don't know.
I am glad I bought mine when I did. The new design does not appeal to me.
Go to your local shopping mall and notice most of the stores that remain year after year specialize in something..."Nothin' but Candles" or "T-Shirts by the Billions"...the ones that are really successful aim at one market segment and do it better than anyone else. Automobile makers (at least the ones that do well) all do it too. If you want the best no-nonsense basic sedan you buy an Accord or a Camry. If you want the same thing for a bit more $ with more power and sport, you buy a Maxima. If you want the biggest, most beefy, nine passenger hauler, you buy a Suburban. Lexus is known for an absolutely smooth, plenty quick, very quiet automobile with great reliability, good resale, best-in-the-business customer service, and a prestige nameplate. They have a large customer base who wants just what they have to offer. I'd be surprised if they changed direction in 2002. The name of the game is finding your audience and doing whatever it is you do better than anyone else...exactly what Lexus has done so far with the ES300.
Thanks for your information. I suspect we will see better prices as the introduction nears for the new ES300(October according to s852).
I too do not like the new styling but then again I do not like a lot of the new styles. They seem to grow on you after a while though.
How do you like your new Lexus? Have you had any problems? What kind of gas mileage are you getting on it?
So far it's everything you hear about the Lexus experience. Dealer is top notch. 4200 miles, nothing has gone wrong. Checked mpg only once with about 1,000 miles on odometer, avg. 21.5mpg combined driving. That number should go up when engine breaks in.
Couple other web sites you may want to check for invoice pricing. Autobytel.com and Carprice.com.