A contract to lease a Toyota Tacoma pickup truck from Lexus has expired, according to a dealership source.
Lexus of California reported the lease of the Tacoma, which will replace the 2016 Toyota Corolla, expired March 8, 2018.
“Due to an agreement to sell, this vehicle will be sold to another purchaser,” Lexus said in a statement.
The sale of the vehicle is not expected to occur for another 12 months, according the statement.
Lexis also said it would sell off a portion of its assets.
“The lease for the 2016 Lexus Tacoma was originally for 1,700,000 miles.
However, Lexus was unable to secure a sufficient amount of inventory for the Tacoma at this time and has since re-lease the vehicle for a more appropriate lease payment,” the company said.
“Since we purchased the vehicle, the Lexus fleet has grown from 7,000 to over 50,000 vehicles.
This will allow Lexus to expand its fleet and expand its offerings of new models to more customers, customers that have never owned a Toyota vehicle before.
This is a great step for the community and our loyal Lexus customers.”
The Tacoma will be leased to Lexus for the next six years.
It was originally scheduled to be the first car to be released by the new Lexus brand.
Lexuses Tacoma was sold at the end of 2017 and is still available on the company’s website.
In August, Lexuses new owner, General Motors, announced it was buying the Tacoma company.
In October, the Detroit News reported GM was interested in buying the company.
“General Motors is in the process of purchasing the General Motors Co., and as part of this transaction, it is also evaluating options to buy the remaining assets of Lexus, including the Tacoma,” the newspaper said at the time.
“We expect that the purchase of the company by GM will result in the closing of the sale of all of Lexis trucks and parts.”
The news of GM buying the truck company is the latest in a series of recent acquisitions by GM.
In January, the automaker announced it would be buying the Boston Dynamics robotics company, which had been producing robots for the military.
That same month, the company announced it had purchased the company that builds its trucks.
The Detroit News also reported in July that the company was seeking to buy a “full-service, full-price” fleet of truck trucks.
“At the end we’re just trying to get it done.
We are looking for a full-service fleet of trucks that can do more than just the job of truckers.
It has to do everything,” GM Vice President of Fleet Operations for the Midwest, Greg Osterman, told the Detroit Business Journal.