Lexus is starting to make more money from leases than the company itself, and that’s a big deal for a company that has a long history of trying to make its cars cheaper.
In the first quarter of 2018, Lexus leased $1.35 billion in new vehicles, according to an annual report from the company.
That’s up from $1 billion the company made in the same period a year ago.
Lexus did not provide details on how many of those new vehicles were leased, but a look at the company’s monthly lease deals shows that the average lease price for new and used cars jumped to $17,400 from $15,800 last year.
The average monthly rent for new cars was $1,200, according the report.
It was the first time that Lexus had reported a $1 million increase in its annual leasing revenue since the company began reporting it in 2015.
As you can see in the chart below, the company is also making money from cars sold on the open market, too.
The company reported that it had $3.1 billion in car sales in the first half of 2018.
It also reported that its new SUV line, the Lexus ES, was the top selling model of 2018 with a total of 1,719,000 units sold.
It had a new car sales figure for the third quarter of 2019, which it said was a record for the brand.
And the company reported a big increase in car deals for its older vehicles.
It said it had 1.5 million cars sold in 2018.
The new Lexus SUVs had an average lease value of $6,600 in 2018, according that report, while the average annual lease price went up to $11,000.