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Filed under: Lexus, Toyota

Lexus has been on a roll for over a decade, but a 21% sales drop has prompted the automaker to cut back on superfluous spending. Lexus canceled its annual dealer meeting to concentrate on selling more luxury automobiles by boosting spending on additional marketing initiatives. The extra marketing capital will be needed, with Lexus launching two all-new vehicles and a refresh in 2009. The extremely successful RX350 has been given a redesign, and the IS250 C convertible and HS250h will arrive later in the year. Lexus GM Mark Templin insists, though, that customers won't feel the pinch of Toyota's pennies. Amenities like top-notch customer service and free vehicles loaners will carry over in 2009. Toyota will also skip their dealer meeting, saving $1 million in the process.

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