Lexus LS US$1 billion, and premiered with a new V8 engine and numerous luxury features. The Lexus LS was intended from its inception for export markets, and the Lexus division was formed to market and service the vehicle internationally. The original LS 400 debuted to strong sales, and was largely responsible for the successful launch of the Lexus marque. Since the start of production, each generation of the Lexus LS has been manufactured in the Japanese city of Tahara, Aichi. The LS name stands for "Luxury Sedan". Some Lexus importers used the backronymic name, "Luxury Saloon". In August 1983, Toyota chairman Eiji
Luxury vehicle an export powerhouse during this period, building on success with the Mercedes-Benz brand, later joined by BMW, which now owns Rolls-Royce Motor Cars, and Volkswagen, which now owns Audi, Bentley, and Lamborghini. In the United States luxury market, Cadillac and Lincoln Motor Company had long been the best-selling and second best-selling luxury brands until 1998, when they were overtaken by Japanese and German brands. These cars were not relevant in most export markets; they were tailored to the U.S. market - moderate price point luxury vehicles not constrained by gasoline pricing. The U.S. developed a special vehicle category, the personal