Autoblog

China considering upping hybrid car incentives

Zach Bowman — Mon, 11 Mar 2013 15:45:00 EST

Filed under: China, Government/Legal, Technology

Bloomberg reports China may be set to step up subsidies for hybrid and fuel-efficient new automobiles. The country's industry minister, Miao Wei, said, "New-energy vehicles are the future. Fuel-efficient cars are now," while speaking with reporters at the National People's Congress. So far, the Chinese government hasn't had much luck talking buyers into fuel-efficient models. Last year, the country forecast total electric vehicle sales to reach 500,000 by 2014, but 2012 only saw 13,000 models sold. Rather than adjust those targets, some analysts believe China will extend incentives to hybrid vehicles as well.

China just concluded a three-year pilot program that gave buyers the equivalent of $9,650 toward the purchase of an EV and $8,045 for plug-in hybrids. Standard hybrids, meanwhile, only saw incentives of $482.73. But that may change as the country moves toward its target of selling a combined five million EV, plug-in and hybrid models by 2020. If China does increase its hybrid incentives, the news may help Toyota more than any other company. Like other Japanese automakers, Toyota has seen sales slide off in the wake of an ongoing territorial dispute between the Chinese and Japanese governments. But stronger incentives may make the Toyota Prius, the world's most popular hybrid, attractive enough to overcome those hurdles.

China considering upping hybrid car incentives originally appeared on Autoblog on Mon, 11 Mar 2013 15:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Ford Focus EV's slow sales trigger massive incentives

Zach Bowman — Fri, 25 Jan 2013 15:45:00 EST

Filed under: Car Buying, Technology, Hatchback, Ford, Electric

The Detroit News reports Ford is having real trouble moving its new Focus Electric. As a result, the automaker is offering substantial incentives in an attempt to lure in more buyers. How substantial? Try $10,750 off of a three-year lease. What's more, the EV can now be had for $37,995 ($2,000 less than its original base price) on top of an additional $2,000 cash discount to buy the EV outright - or you can opt for 1.9-percent financing if you work through Ford Motor Credit. None of which factors in various potential government incentives. Last year, Ford managed to sell a paltry 685 of the 1,627 Focus EV hatchbacks it built.

Ford isn't alone in trying to woo more buyers to its EV effort. Nissan cut the price of its Leaf by a whopping 18 percent for 2013, now down to $28,800 and built in the USA. The move followed the automaker's substantial incentives in 2012.

If you want a Focus Electric, you can now apparently get your hands on one for as little as $285 per month with $930 due at signing for a 36-month lease with 10,500 miles per year.

Ford Focus EV's slow sales trigger massive incentives originally appeared on Autoblog on Fri, 25 Jan 2013 15:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Chrysler and Fiat offering $1,000 rebates to VW owners as Marchionne gets tough

Zach Bowman — Mon, 10 Dec 2012 18:02:00 EST

Filed under: Car Buying, Chrysler, Volkswagen, Celebrities, Fiat

The throw-down between Fiat CEO Sergio Marchionne and Volkswagen has heated up in earnest. According to Bloomberg, Fiat and Chrysler are now offering current Volkswagen owners in the US $1,000 rebates to trade in their ride. It's the latest in a series of shots Marchionne has taken at his German rival. As you may recall, the Fiat executive entered into a spat with Volkwagen board chairman Ferdinand Piëch and CEO Martin Winterkorn in October after the duo called for Marchionne's resignation from presidency of the European Automotive Manufacturers Association (AECA). At the time, the Volkswagen executives were quoted as saying Fiat would not survive the European economic downturn.

In response, Marchionne called the German executives "reprehensible," and accused Volkswagen of using a pricing strategy that has created created a "bloodbath" in the EU. Volkswagen has taken to steep discounting to carve out ever-larger slices of market share in Europe, but the company has a much smaller foothold in the US. Marchionne may be trying to hit Volkswagen where the manufacturer is weakest with the new Fiat new incentive program.

Late last week, the Fiat executive was voted to a second term as ACEA president.

Chrysler and Fiat offering $1,000 rebates to VW owners as Marchionne gets tough originally appeared on Autoblog on Mon, 10 Dec 2012 18:02:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

GM profits threatened by glut of pickups

Zach Bowman — Wed, 05 Dec 2012 18:44:00 EST

Filed under: Car Buying, Truck, Plants/Manufacturing, Chevrolet, GM, GMC, Earnings/Financials

Automotive News reports that General Motors may slash production or ramp up discounts in order to deal with an oversupply of pickup trucks. GM currently has more than double the standard supply of pickups, and the vehicles are threatening to dampen the automaker's profits for 2013. Typically, automakers try to sustain a 60- to 75-day supply of vehicles, but GM is currently loaded with a 139-day supply, as of last month. At the end of November, the automaker was sitting on 245,853 units.

The manufacturer says that it will adjust production accordingly before laying any incentives on the profitable pickups. Even so, there's some concern that the inventory swell could hurt the roll-out of the next-generation Chevrolet Silverado and GMC Sierra. GM actually began slowly stepping back production in August, but it's clear the company will take further action as it heads toward the end of the year and into the next. Analysts predict the automaker could reduce pickup manufacturing by nearly half in the first quarter of 2013.

That still may not be enough to keep GM from laying extra cash on the Silverado and GMC Sierra. While the company's incentive spending was down in November compared to the same month in 2011, both the Ram 1500 and Ford F-150 saw double-digit percentage increases in sales last month while the Silverado and Sierra numbers slid compared to a year prior. Incentive spending could help move more trucks and add some balance to the GM inventory surge.

GM profits threatened by glut of pickups originally appeared on Autoblog on Wed, 05 Dec 2012 18:44:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Incentives aid smooth Suzuki wind down

Zach Bowman — Tue, 04 Dec 2012 13:29:00 EST

Filed under: Car Buying, Budget, Suzuki, Earnings/Financials

American Suzuki is continuing to offer buyers substantial incentives even as the company winds down operations. Those looking to nab a new Suzuki vehicle will find rebates of between $500 and $2,000 and zero-percent financing for up to 72 months as dealers look to liquidate inventory following the automaker's filing for Chapter 11 bankruptcy protection last month. The strategy is working so far. Last month saw Suzuki sell a total of 2,224 vehicles, up 22 percent compared to the same time period in 2011. The Japanese manufacturer says it will continue the incentives through December.

Suzuki had around 5,000 units in dealer inventory in the US when it went into bankruptcy protection, with an additional 1,500-1,700 vehicles headed to dealers at that time. The company says it will continue to honor warranties moving forward using its current dealer network. Most of the dealerships will become Suzuki service and parts stores after American Suzuki shutters car sales in the US.

Incentives aid smooth Suzuki wind down originally appeared on Autoblog on Tue, 04 Dec 2012 13:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Dealers confront carmakers over two-tier pricing, forced upgrades

Jonathon Ramsey — Thu, 25 Oct 2012 09:33:00 EST

Filed under: Car Buying

In a speech for the Automotive Press Association in Detroit, the chairman of the National Automobile Dealers Association (NADA), Bill Underriner, laid out the two most important issues it seeks to address with carmakers: two-tier pricing and compulsory dealership facility upgrades.

The former is more easily understood as bonuses for sales targets - sell X amount of cars, receive X amount of extra gravy from the carmaker. The bonuses also escalate, so that a certain sales target beyond X means a proportionally larger bonus than was had at the previous target. NADA's contention is that practice results in favortism that ignores the size and diversity of dealerships. Larger dealers can offer lower prices and sell more cars than smaller outlets, with the effect of potentially creating different pricing in the same markets, the bulk of the bonus money then going to the larger dealerships and improving their positions.

The second issue is about giving dealers a larger voice in the matter of "facility image programs," such as what dealers had to do to get the Fiat 500 and, more recently, the SRT guidelines about what dealers will be required to do in order to sell the new Viper. Building out a new showroom with mandated facilities can cost millions, and NADA wants earlier and more input into the programs to ensure they work on the local scale and that the changes endure. Said Underriner, "We want to know whether we are investing in the kind of dealership that will be most competitive in 2020 and beyond."

The dealer body has created task forces to investigate both issues. An NADA press release is below, Underriner's full speech can be found here.

Continue reading Dealers confront carmakers over two-tier pricing, forced upgrades

Dealers confront carmakers over two-tier pricing, forced upgrades originally appeared on Autoblog on Thu, 25 Oct 2012 09:33:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Chrysler launches 'No Payments for 90 Days' incentive

Scott Burgess — Wed, 23 May 2012 16:28:00 EST

Filed under: Car Buying

Chrysler upped the ante for May sales announcing this week a deferred payment program for anyone buying a Chrysler, Dodge, Jeep or Fiat between now and the end of May.

The "No Payments for 90 Days" program began Monday and runs until May 31. Qualified buyers financing their new vehicles through Ally Financial or Chase Auto Finance are eligible for deferment. Some consumers may not be eligible due to state laws.

It's an interesting twist to spur sales, as Chrysler has seen a 31-percent increase in sales this year, well ahead of the 10-percent increase for the industry. However, sales at Chrysler slowed in April, climbing just 18 percent, while overall industry sales mildly grew 2.3 percent.

Additionally, Chrysler announced it was doubling down on military members and their families with its "Military Appreciation Bonus Consumer Cash". Instead of giving eligible military members $500 toward a vehicle purchase, Chrysler is spotting them $1,000 through the end of the month.

The hot selling 2012 Dodge Avenger SE, Chrysler 200 LX sedan, Dodge Journey AVP, Fiat 500 Abarth and all SRT models, including the soon to arrive Viper, are exempt from the deal. See more details below.

Continue reading Chrysler launches 'No Payments for 90 Days' incentive

Chrysler launches 'No Payments for 90 Days' incentive originally appeared on Autoblog on Wed, 23 May 2012 16:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

China aims to slow foreign investment in auto market

Zach Bowman — Mon, 02 Jan 2012 09:31:00 EST

Filed under: China, Plants/Manufacturing

The exponential growth of China's auto market has left many automakers licking their lips at the thought of rampant profit. Recent years have seen the country's government spur foreign investment with various incentives, including reduced tariffs on imported manufacturing machinery. According to Automotive News, that's all about to stop. China has said it will cease encouraging foreign investment in a move designed to promote natural growth in the sector. The country saw automotive growth drop to one tenth of what it was in 2010.

That's not to say China is putting a stop to all aid to foreign automotive investment. The report says China will still encourage foreign automakers to develop green technologies within its borders.

Automakers from General Motors to Toyota and Volkswagen have all focused more heavily on the Chinese auto market in recent years. Honda recently began producing Fit models in China for sale in Canada as part of an effort to move more of the company's production out of Japan, as well. Similar strategies may become less cost effective as China makes it more difficult for foreign companies to invest in manufacturing.

China aims to slow foreign investment in auto market originally appeared on Autoblog on Mon, 02 Jan 2012 09:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Used cars commanding record prices, sometimes cheaper to buy new

Michael Harley — Fri, 12 Aug 2011 08:29:00 EST

Filed under: Car Buying, Earnings/Financials

Just a couple years after U.S. auto sales plunged to their lowest levels in decades, dealers are finding an industry-wide shortage of used vehicles. This lack of used inventory has driven up the price of scarce pre-owned vehicles on lots, sending more and more consumers into aggressively priced new vehicles. One economist says as many as 500,000 people who intend on purchasing used will instead take delivery on new vehicles by mid-2012.

This phenomenon wasn't completely unexpected. When production and sales slumped, many realized the steady supply of returned leased and fleet vehicles - which traditionally deliver late-model low-mileage inventory - would slow to a trickle down the road. The used vehicles are often reconditioned by dealers for sale with extended warranties, but special financing and automaker incentive packages usually don't apply. Parked next to new vehicles, with aggressive pricing and low interest rates, consumers are finding only a marginal jump in price (if any) will put the aroma of a freshly minted vehicle in their driveway.

The news is good for automakers such as BMW (new car sales up 13 percent), GM and Ford (both expecting a 10 percent boost). However, most Japanese automakers are still reeling after production losses earlier this year which won't allow them to stock lots and take full advantage of the unique situation. Industry experts, who are able to trend new and used vehicle sales, predict the used car market will remain strong for at least the next year or two.

Used cars commanding record prices, sometimes cheaper to buy new originally appeared on Autoblog on Fri, 12 Aug 2011 08:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Analysts predicting big year-end incentives blitz to salvage yearly numbers

Zach Bowman — Tue, 02 Aug 2011 14:01:00 EST

Filed under: Car Buying, Japan

As Japanese automakers see their production levels return to normal, U.S. dealers should finally be able to bolster their inventories after months of slim pickings. According to Automotive News, the companies may use the situation to attempt to improve total year sales with massive incentive and advertising spending. The report says that currently, some showrooms are only at half of their pre-disaster inventory levels - this, despite the fact that the number of available vehicles has increased over the past month. The quake and tsunami disaster has resulted in a shift in market share, with Japanese makes losing 6.7 percentage points from their pre-quake height of 38.8 percent. Automotive News reports that Toyota saw its market share plummet by 2.6 percent to 11.6 percent.

The introduction of the seventh-generation Camry may help that company's cause, and rivals Honda and Nissan may attempt to launch a price war to keep buyers in the family. That may mean larger incentives than buyers have seen from either automaker in the recent past. Additionally, the report says that manufacturers are cranking up the ad budget to match production. The rush of cash is expected to take hold in the fourth quarter, which means automakers must make it through Q3, first.

Analysts predicting big year-end incentives blitz to salvage yearly numbers originally appeared on Autoblog on Tue, 02 Aug 2011 14:01:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Automaker incentives sink to five-year low

Chris Shunk — Wed, 04 May 2011 18:00:00 EST

Filed under: Car Buying, Chrysler, Ford, GM, Honda, Nissan, Toyota

Auto sales have been on an upward trajectory for many months, and the latest data shows that cash on the hood isn't one of the reasons. According to Automotive News, incentive spending was at a five-year low in April, down 14 percent to an average of $2,320 per vehicle.

Toyota had the lowest incentives among the top six automakers in the United States, with an average of $1,885 per unit. Nissan discounts dropped the most on a percentage basis, down 33 percent to $1,998. Honda actually increased spending to $2,187, bucking the industry trend. Buyers of Japanese autos can likely expect the dropping incentives to continue in the short term, as supply issues mean that fewer vehicles will be available on dealer lots.

As you may have expected, Ford's strong product lineup has helped the automaker cut spending by 20 percent to $2,399 - the lowest among the Detroit Three. Chrysler was next with an average rebate of $2,806. General Motors came in last at $3,068 per unit, which is still down 8.1 percent from April 2010.

So what does this mean for car buyers? We're guessing that incentives will continue to remain where they're at, or perhaps even drop further in the months ahead. After all, April's adjusted sales rate came in at 13.2 million for 2011, with no hint of slowing down, and analysts have expected 12.7 to 13 million sales for the year. About the only thing that could change that right now is the continuing rise of gas prices, which is a real possibility.

Automaker incentives sink to five-year low originally appeared on Autoblog on Wed, 04 May 2011 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Report: Akerson's leadership, pricing strategies at GM drawing more fire

Jeff Glucker — Fri, 25 Mar 2011 18:01:00 EST

Filed under: Car Buying, GM

We know he's not a "car guy" but some think General Motors CEO Dan Akerson might not be a guy fit for a car company period. Akerson comes from the telecommunications world, and it seems some analysts believe it's that background that's driving him to cut costs and drive sales by means of heavy incentives and rebates.

GM has seen strong sales to start 2011, but other automakers are quick to point out these gains come courtesy of instant gratification tactics. By initially devaluing its product, GM also diminishes its future resale value. Additionally, customers shopping for a General Motors product will expect an incentive or rebate when they show up at their local dealership.

We haven't seen March sales figures yet, but as it was the month GM ended its current run of incentives and rebates, it will be interesting to see if sales take a dip as a result. Early estimates say that's the case, but we'll have to wait for the monthly By the Numbers to be sure.

[Source: MSNBC]

Report: Akerson's leadership, pricing strategies at GM drawing more fire originally appeared on Autoblog on Fri, 25 Mar 2011 18:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Hyundai CEO Krafcik warns against price war, short-term thinking

Jeff Glucker — Sun, 13 Feb 2011 11:01:00 EST

Filed under: GM, Hyundai, Toyota, Earnings/Financials

Hyundai Motor America President and CEO John Krafcik believes that some automakers are starting a price war, which would be an unwise move that focuses solely on short-term sales.

General Motors had strong sales in January 2011, but its 23-percent gain was due to increased incentives and price-cutting. After GM made its move, Toyota followed suit.

Krafcik says that Hyundai, whose incentive spending is among the lowest in the industry, has no plans to join in this game. Heavy incentive spending leads to sharp up and downswings in an automaker's accounting ledger. Hyundai sales rose 24 percent in 2010 and Krafcik expects to see improvements in 2011. While some automakers are fiddling with the radio, Krafcik is paying attention to the road in front of him.

[Source: The Economic Times]

Hyundai CEO Krafcik warns against price war, short-term thinking originally appeared on Autoblog on Sun, 13 Feb 2011 11:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Report: GM sales boosted by incentives, analysts fear return of 'push' model

Zach Bowman — Sat, 05 Feb 2011 12:02:00 EST

Filed under: Car Buying, Etc., GM, Earnings/Financials

According to Automotive News, some analysts are accusing General Motors of sliding back into bad habits by boosting sales with heavy incentives. The report says that GM's 22-percent sales jump in January was largely fueled by laying piles of cash on the hood. On average, GM handed out $3,762 per vehicle last month - the highest incentive figure of any of the six largest automakers. That number represents a 29-percent increase over the same month last year, and Edmunds.com analysts are concerned that the automaker has begun pushing too many models on dealers with plans to move them with incentives.

GM, meanwhile, says that while the company did institute a "modest" increase in incentives last month, it doesn't plan on falling back into the rut of driving production with the cash. The company saw Chevrolet sales jump 19 percent, while Buick and GMC enjoyed a 32-percent increase, all of which were driven largely by more free-flowing consumer credit.

[Source: Automotive News - sub. req.]

Report: GM sales boosted by incentives, analysts fear return of 'push' model originally appeared on Autoblog on Sat, 05 Feb 2011 12:02:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Report: Today is the best day all year to buy a new car

Zach Bowman — Tue, 30 Nov 2010 15:30:00 EST

Filed under: Car Buying, Etc., Earnings/Financials

If you're in the market for a new car, today just might be your day. According to both Time and TrueCar.com, a perfect storm of factors have collided to make this the best day all year for consumers to get the greatest deal possible on a new hunk of sheetmetal. With a perfect mix of dealer incentives and manufacturer rebates mingling with the fact that dealers are now staring down the barrel of end-of-the-month sales targets and a stack of 2011 models coming down the pike, savvy buyers should be able to call the shots.

Time reports that some models are seeing discounts of 19-37 percent off of their retail MSRP. If you're clever, you just might be able to snag the keys to a 2010 Mazda3 for a hair over $10,000(!) or a 2010 Hyundai Accent for just $7,341 - a savings of around 31 percent off of the Korean's sticker price. Head over to TrueCar.com for a look at other big savers.

[Sources: Time, TrueCar | Image: Joe Raedle / Getty Images]

Report: Today is the best day all year to buy a new car originally appeared on Autoblog on Tue, 30 Nov 2010 15:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

China reportedly adding big incentives for hybrid, electric purchases

Zach Bowman — Thu, 03 Jun 2010 10:26:00 EST

Filed under: Hybrid, China, Government/Legal

Geely Emgrand plug-in hybrid - Click above for high-res image gallery

If you pay them, they will come. At least that's the philosophy China is applying to the electric car business these days. The people's republic is set to roll out new pilot programs in four of its largest cities aimed at curbing emissions by promoting plug-in hybrids and EVs. The country is handing out the equivalent of around $7,320 in incentives for the purchase of more green-minded automobiles. At first, the program will only be available to those who live in Shanghai, Shenzhen, Hangzhou and Hefei, though depending on its success, it may spread to other parts of the country.

As a result of the incentives, Chinese manufacturers are beginning to give EVs and plug-in hybrids some serious thought, and automakers like BYD, Geely and SAIC Motor Corp have all announced varying plans for production. The news will likely go a long way toward helping China get a grip on its raging air quality problems, especially in its larger metropolitan areas.

According to Automotive News, the Chinese government is also offering a nationwide subsidy program for small-engine vehicles. Any car with a 1.6-liter engine or smaller that consumes 20 percent less fuel than current standards is eligible for a $440 incentive.

Gallery: Beijing 2010: Geely Emgrand GE

[Source: Automotive News]
Photos by Sam Abuelsamid / Copyright (C)2010 Weblogs, Inc.

China reportedly adding big incentives for hybrid, electric purchases originally appeared on Autoblog on Thu, 03 Jun 2010 10:26:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Hyundai matches incentives for Toyota customers from Ford, GM

Alex Nunez — Fri, 29 Jan 2010 17:31:00 EST

Filed under: Recalls, Safety, Hyundai, Toyota

Mired in what is officially a nightmarish recall fiasco, Toyota's getting gang-tackled as it wraps up a really bad week. General Motors, smelling blood in the water, is offering incentives specifically targeting Toyota drivers through the end of February. Likewise, Ford is adding $1,000 to the trade-ins of any Toyota, Lexus, or Scion (as well as Acura and Honda, for good measure). Rental fleets are yanking Toyotas from circulation. The House of Representatives will officially ~~grandstand~~ hold a hearing next Friday. Consumer Reports is temporarily withholding its "Recommended" status on recalled models until the matter is sorted out.

And now, here comes Hyundai, leaping into the scrum from the top rope like Jimmy "Superfly" Snuka.

The Detroit News reports that like GM and Ford, Hyundai's now offering $1,000 to customers who trade their Toyota in for a Sonata, Elantra, or Elantra Touring. Unike GM and Ford, Hyundai is only running the incentives through next Monday. Meanwhile, Chrysler could reportedly follow suit next week. Honda, for its part, has flatly stated that it is staying out of the feeding frenzy, and won't be targeting Toyota customers with specific incentives.

[Source: The Detroit News | Image: Jung Yeon-Je/AFP/Getty Images]

Hyundai matches incentives for Toyota customers from Ford, GM originally appeared on Autoblog on Fri, 29 Jan 2010 17:31:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

REPORT: Chrysler piles on even more incentives ahead of the holidays

Chris Shunk — Mon, 23 Nov 2009 17:59:00 EST

Filed under: Car Buying, Marketing/Advertising, Chrysler, Dodge, Jeep

In an effort to spur lagging sales, Chrysler has reportedly cranked up incentive spending on nearly all of its models by $1,000 to $1,500 while also offering 0% financing on many of its models. Chrysler is also said to be offering lease incentives of $500 to $1,000 on minivan leases and financing deals on leftover 2008 and 2009 Dodge Vipers.

The move towards additional rebates comes as incentive spending has been down for crosstown rivals General Motors and Ford. And Chrysler was already spending more on incentives than the industry at large - Edmunds says the typical Chrysler, Dodge or Jeep sold had $3,219 on the hood versus an industry average of $2,486. Chrysler is in a tougher position than its Detroit contemporaries, because the Auburn Hills, MI-based automaker has seen its sales slide by 39% on the year - more than any other major player in the U.S. market. One thing Chrysler does have going for it is that dealer inventory is largely in check and Automotive News is reporting that 88% of its vehicles are 2010 models.

Chrysler's latest round of incentives is good now through January 4, 2010.

[Source: Automotive News - subs req'd | Image: Mark Ralston/AFP/Getty]

REPORT: Chrysler piles on even more incentives ahead of the holidays originally appeared on Autoblog on Mon, 23 Nov 2009 17:59:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Looking for $10k off on a Lexus or Caddy? High-priced hybrids reportedly getting hefty incentives

Jeremy Korzeniewski — Mon, 05 Oct 2009 19:28:00 EST

Filed under: Car Buying, Hybrid, Sedan, SUV, Cadillac, Lexus, Luxury

2009 Lexus LS 600h L Pebble Beach Edition - Click above for high-res image gallery

Surprise! Lexus and its parent company, Toyota, are apparently finding that it's not as easy selling $106,000 hybrids as it is for $25,000. The Lexus LS 600h L is certainly an excellent piece of automotive engineering, delivering gobs of horsepower and torque with at least a modicum of efficiency thrown in for good measure.

Still, sales of the LS range are down over 50%, leading the the Japanese auto giant to place a whopping $10,000 cash incentive on its range-topping hybrid model. Moving down the Lexus lineup a notch will net you a $3,000 incentive on the GS 450h. What's more, Edmunds' Auto Observer reports that the company is throwing another $1,000 at any Lexus sales associate that manages to sell one of its pricey hybrids.

Not into expensive hybrid sedans? How 'bout we move to the opposite end of the fuel-saving market and into the driver's seat of a 2009 Cadillac Escalade Hybrid. Signing on the dotted line for General Motors' top-of-the-line 2Mode hybrid 'ute will cost you from about $73,000 to over $87,000... minus a five-digit discount, of course. Such a deal!

Gallery: 2009 Pebble Beach Edition LS 600h L

[Source: Auto Observer]

Looking for $10k off on a Lexus or Caddy? High-priced hybrids reportedly getting hefty incentives originally appeared on Autoblog on Mon, 05 Oct 2009 19:28:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

REPORT: Toyota increases 2009-2010 global sales forecast by 3%

Chris Shunk — Mon, 28 Sep 2009 08:59:00 EST

Filed under: Plants/Manufacturing, Toyota

There have been subtle signs that demand for new cars and trucks are improving. Several automakers plan to increase production over the next few months, and Toyota is no different. Reuters is reporting that the World's Largest Automaker has raised its sales forecast by 3% to 6.7 million units for the year ending March 2010. Toyota is also reportedly looking to increase production by a not-so-subtle 8% to a total of 6.45 million units. Toyota is neither confirming or denying the report, which originated in the Tokyo Shimbun daily.

Some of the reasons cited for the increased forecast and production center around incentives from governments all over the world. Here in the States, Cash for Clunkers payed a big role in Toyota's sales increase, while low emissions vehicle subsidies of up to $2,800 by the Japanese government has helped spur sales in the automaker's home market.

[Source: Reuters]

REPORT: Toyota increases 2009-2010 global sales forecast by 3% originally appeared on Autoblog on Mon, 28 Sep 2009 08:59:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments