Toyota Motor Corp. is bringing the Century, Japan\u2019s ultimate four-wheeled status symbol, out of the shadows with new models and a push to raise its profile beyond its home market.<\/p>\n
When Chairman Akio Toyoda was inducted into the Automotive Hall of Fame in Detroit this month, he rolled into town in a new Century SUV. With its golden phoenix badge and yellow brake clamps, the car turned heads \u2014 probably also because it\u2019s not for sale in the U.S. <\/p>\n
When asked why Toyota chose a Century, Chief Technology Officer Hiroki Nakajima wasn\u2019t shy about the brand\u2019s overseas ambitions, positioned above Lexus.<\/p>\n
\u201cWe want to showcase the latest version of the Century,\u201d Nakajima said. \u201cIt\u2019s a global model, so we\u2019re interested in getting feedback from auto industry officials in Detroit.\u201d<\/p>\n
Used by members of the Imperial family, prime ministers and some of Japan\u2019s most powerful CEOs since the 1960s, the Century is the country\u2019s premier luxury car. For decades, it was just a single model, an elegant limousine built to be driven by white-gloved chauffeurs shuttling passengers to and from Japan\u2019s corridors of power. Three years ago, Toyota took the first step toward bringing the car into the 21st century by debuting a bulkier SUV variant.<\/p>\n
More recently, Toyota has laid the groundwork for turning that uniquely Japanese institution into something bigger. Last October, it unveiled a svelte Century coupe concept that made a splash in the automotive press. <\/p>\n
It elevated Century to a standalone brand above Lexus at the pinnacle of its lineup, and launched an English-language website highlighting the cars\u2019 master Japanese craftsmanship, like Nishijin-ori brocade and urushi lacquer. <\/p>\n
In March, it wheeled several Century models, including the coupe concept, into a showroom in downtown Tokyo.<\/p>\n
\u201cIf you count just volume or revenue, pushing the Century may not make a lot of business sense,\u201d said Bloomberg Intelligence auto analyst Tatsuo Yoshida. \u201cBut it\u2019s much more than that \u2014 it\u2019s a clear statement by Toyota that it wants to play a role in the super-premium category currently dominated by the European brands.\u201d<\/p>\n
New Century models are still partly handmade, with the SUV starting at 27 million yen ($171,651) in Japan. While that makes it Toyota\u2019s most expensive passenger vehicle, it\u2019s still more affordable than a similar European-made model. Bentley Motors Ltd.\u2019s Torcal SUV starts at around $230,000, while Rolls-Royce Motor Cars Ltd.\u2019s Ghost sedan costs from around $355,000.<\/p>\n
The Japanese carmaker sold some 500 Century vehicles last year, compared with around 1,700 in 1997. Pushing the brand into more overseas markets may strengthen sales as Japan grapples with muted economic growth, a weak yen and inflation. <\/p>\n
It also stands to benefit from a halo effect which could bolster demand for its more mundane vehicles that draw on the same corporate lineage. Strengthening Century means Lexus doesn\u2019t need to push further upmarket, Yoshida said.<\/p>\n
One looming question is what powertrain Toyota will choose for the next iteration of Century models. The car is known among enthusiasts for the powerful V12 engine of a version that debuted in 1997 and was discontinued two decades later. <\/p>\n
Today, the sedan comes with a hybrid V8 engine while the SUV has a hybrid V6 engine. The automotive trade press is abuzz about a report published earlier this year that Toyota might outfit the upcoming Century lineup with a hybrid V12. The company said it cannot disclose technical details for the coupe concept.<\/p>\n
Toyota sells the Century SUV in China and ships small volumes to other countries in Asia and the Middle East. It\u2019s currently studying the possibility of expanding to more markets. Meanwhile, an unofficial gray trade has developed outside Japan. Infamous financier Jeffrey Epstein tried to buy one from the company in 2015, but was apparently unable to do so because of red tape issues, according to emails disclosed by the Department of Justice. <\/p>\n
American singer T-Pain recently acquired one outfitted with lace doily curtains, while Jay Leno drove a 1993 Century during an episode of his show Jay Leno\u2019s Garage. Century models more than 25 years old can be legally imported into the US and are typically priced at around $25,000 on specialist websites.<\/p>\n
Beyond niche buyers, Toyota is eyeing entry into a well-established global market for ultra-luxury vehicles that\u2019s getting tougher by the day. <\/p>\n
Household names including BMW AG\u2019s Rolls-Royce, Volkswagen AG\u2019s Bentley and Mercedes-Benz Group AG\u2019s Maybach are facing mounting competition from Chinese rivals, which are pushing upmarket with super-premium offerings including Huawei\u2019s Maextro and BYD Co.\u2019s Yangwang brands.<\/p>\n
The new Chinese entrants are a far cry from the dignified understatement of the Century. They offer ostentatious styling and bold color palettes combined with the latest in creature comforts and high-tech software. <\/p>\n
The Yangwang U8 SUV can rotate on the spot and float on water, all for a price of around $150,000. The Maextro S800 sedan, which has the look and feel of a Maybach S-Class, can be had for roughly $100,000.<\/p>\n
Still, with global interest in all things Japan surging \u2014 from high-end sneakers to ultra-premium fresh fruits \u2014 Toyota has reasons to be confident that the car it has long built exclusively for the country\u2019s elite can be successful overseas.<\/p>\n
\u201cThe luxury sector is pretty crowded already,\u201d Yoshida said. \u201cThat said, Toyota normally doesn\u2019t give up until it succeeds.\u201d<\/p>\n
Nicola and Dawson write for Bloomberg. <\/p>\n","protected":false},"excerpt":{"rendered":"Toyota Motor Corp. is bringing the Century, Japan\u2019s ultimate four-wheeled status symbol, out of the shadows with new…\n","protected":false},"author":2,"featured_media":480719,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[23417,7,9,8,283,22368,7363,794,6763,23618,188549,188548,118754,188546,7247,188547,23630,72],"class_list":["post-480718","post","type-post","status-publish","format-standard","has-post-thumbnail","category-california","tag-brand","tag-california","tag-california-headlines","tag-california-news","tag-car","tag-century","tag-country","tag-detroit","tag-japan","tag-lexus","tag-more-overseas-market","tag-new-century-suv","tag-rolls-royce","tag-several-century-model","tag-suv","tag-svelte-century-coupe-concept","tag-toyota","tag-year"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/480718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=480718"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/480718\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/480719"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=480718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=480718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=480718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}