The automaker unveiled plans to spin off its elite Century line into a new high-end brand.
WASHINGTON — Toyota is making a new move in the luxury car world.
The company is spinning off Century, a longstanding high-end Japanese vehicle once reserved for political leaders and royalty, into its own standalone brand.
This new brand will sit above Lexus in Toyota’s lineup, with the goal of competing with other high-end vehicles, like Rolls-Royce and Bentley.
The company made the announcement ahead of the Japan Mobility Show, which kicks off in Tokyo on Oct. 31.
“When we go higher-end, we need something above, not Lexus, nor Toyota,” Toyota Chairman Akio Toyoda said during a panel discussion, according to Forbes. “That is the position of the Century.”
First introduced in 1967 to celebrate the 100th birthday of Toyota founder Sakichi Toyoda, the Century has been a symbol of luxury in Japan for many decades.
It has traditionally been reserved for government officials, business leaders and members of the Imperial House of Japan, and is known for its “meticulous craftsmanship”, Forbes explains.
With the new brand, Toyota hopes to give Lexus, which has historically been the company’s luxury brand, more room to innovate, while Century takes a more premiere slot in the company’s car lineup.
“In a sense, Lexus will be freer to act,” Toyota Chief Branding Officer Simon Humphreys said, according to CarScoops. “Lexus should continue to take on challenges as a pioneer. Century will take on the high-end market as the top of the top, one of one.”
The new “One of One” concept Century car is a coupe-style vehicle, with lots of legroom, sliding doors on the passenger side and no rear window. Forbes describes it as “if a Rolls Royce had a baby with an SUV.”
Toyota currently sells two Century models in Japan, including a $180,000 sedan powered by a 5.0-liter V8 hybrid system and a $170,000 SUV that runs on a 3.5-liter V6 plug-in hybrid. Only 50 sedans and 30 SUVs are produced each month to preserve exclusivity, Forbes reports.
