Toyota Motor Corp. is bringing the Century, Japan’s ultimate four-wheeled status symbol, out of the shadows with new models and a push to raise its profile beyond its home market.
When Chairman Akio Toyoda was inducted into the Automotive Hall of Fame in Detroit this month, he rolled into town in a new Century SUV. With its golden phoenix badge and yellow brake clamps, the car turned heads — probably also because it’s not for sale in the U.S.
When asked why Toyota chose a Century, Chief Technology Officer Hiroki Nakajima wasn’t shy about the brand’s overseas ambitions, positioned above Lexus.
“We want to showcase the latest version of the Century,” Nakajima said. “It’s a global model, so we’re interested in getting feedback from auto industry officials in Detroit.”
Used by members of the Imperial family, prime ministers and some of Japan’s most powerful CEOs since the 1960s, the Century is the country’s premier luxury car. For decades, it was just a single model, an elegant limousine built to be driven by white-gloved chauffeurs shuttling passengers to and from Japan’s corridors of power. Three years ago, Toyota took the first step toward bringing the car into the 21st century by debuting a bulkier SUV variant.
More recently, Toyota has laid the groundwork for turning that uniquely Japanese institution into something bigger. Last October, it unveiled a svelte Century coupe concept that made a splash in the automotive press.
It elevated Century to a standalone brand above Lexus at the pinnacle of its lineup, and launched an English-language website highlighting the cars’ master Japanese craftsmanship, like Nishijin-ori brocade and urushi lacquer.
In March, it wheeled several Century models, including the coupe concept, into a showroom in downtown Tokyo.
“If you count just volume or revenue, pushing the Century may not make a lot of business sense,” said Bloomberg Intelligence auto analyst Tatsuo Yoshida. “But it’s much more than that — it’s a clear statement by Toyota that it wants to play a role in the super-premium category currently dominated by the European brands.”
New Century models are still partly handmade, with the SUV starting at 27 million yen ($171,651) in Japan. While that makes it Toyota’s most expensive passenger vehicle, it’s still more affordable than a similar European-made model. Bentley Motors Ltd.’s Torcal SUV starts at around $230,000, while Rolls-Royce Motor Cars Ltd.’s Ghost sedan costs from around $355,000.
The Japanese carmaker sold some 500 Century vehicles last year, compared with around 1,700 in 1997. Pushing the brand into more overseas markets may strengthen sales as Japan grapples with muted economic growth, a weak yen and inflation.
It also stands to benefit from a halo effect which could bolster demand for its more mundane vehicles that draw on the same corporate lineage. Strengthening Century means Lexus doesn’t need to push further upmarket, Yoshida said.
One looming question is what powertrain Toyota will choose for the next iteration of Century models. The car is known among enthusiasts for the powerful V12 engine of a version that debuted in 1997 and was discontinued two decades later.
Today, the sedan comes with a hybrid V8 engine while the SUV has a hybrid V6 engine. The automotive trade press is abuzz about a report published earlier this year that Toyota might outfit the upcoming Century lineup with a hybrid V12. The company said it cannot disclose technical details for the coupe concept.
Toyota sells the Century SUV in China and ships small volumes to other countries in Asia and the Middle East. It’s currently studying the possibility of expanding to more markets. Meanwhile, an unofficial gray trade has developed outside Japan. Infamous financier Jeffrey Epstein tried to buy one from the company in 2015, but was apparently unable to do so because of red tape issues, according to emails disclosed by the Department of Justice.
American singer T-Pain recently acquired one outfitted with lace doily curtains, while Jay Leno drove a 1993 Century during an episode of his show “Jay Leno’s Garage.” Century models more than 25 years old can be legally imported into the U.S. and are typically priced at around $25,000 on specialist websites.
Beyond niche buyers, Toyota is eyeing entry into a well-established global market for ultra-luxury vehicles that’s getting tougher by the day.
Household names including BMW AG’s Rolls-Royce, Volkswagen AG’s Bentley and Mercedes-Benz Group AG’s Maybach are facing mounting competition from Chinese rivals, which are pushing upmarket with super-premium offerings including Huawei’s Maextro and BYD Co.’s Yangwang brands.
The new Chinese entrants are a far cry from the dignified understatement of the Century. They offer ostentatious styling and bold color palettes combined with the latest in creature comforts and high-tech software.
The Yangwang U8 SUV can rotate on the spot and float on water, all for a price of around $150,000. The Maextro S800 sedan, which has the look and feel of a Maybach S-Class, can be had for roughly $100,000.
Still, with global interest in all things Japan surging — from high-end sneakers to ultra-premium fresh fruits — Toyota has reasons to be confident that the car it has long built exclusively for the country’s elite can be successful overseas.
“The luxury sector is pretty crowded already,” Yoshida said. “That said, Toyota normally doesn’t give up until it succeeds.”
Nicola and Dawson write for Bloomberg.
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