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
Toyota Cresta suggest luxury overtones, such as Super Lucent, Super Touring, Super Deluxe, Super Custom, and Custom, names that were similarly used on the Crown. Upper level trim levels used two-tone paint schemes to further the Cresta's elevated status towards a younger demographic. The Nissan competitor was the Laurel. This new luxury approach was well received with buyers. In August 1983, Toyota chairman Eiji Toyoda initiated the F1 project ("Flagship" and "No. 1 vehicle"; alternatively called the "Circle-F" project), a clandestine effort aimed at producing a world-class luxury sedan for international markets. This led to the creation of an all new, full