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The Lexus brand was created around the same time as Japanese rivals Nissan and Honda developed their Infiniti and Acura premium brands. The Japanese government imposed voluntary export restraints for the U.S. market, so it was more profitable for Japanese automakers to export more expensive cars to the U.S.
The company was founded by Wayne Huizenga in 1996, starting with twelve AutoNation locations, and now has more than 300 retail outlets. [ 7 ] [ 8 ] AutoNation continued growing by acquiring other companies in the car rental business such as National Car Rental, Spirit Rent-A-Car, Value Rent-A-Car, Snappy Car Rental and more.