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Report: Toyota will continue heavy incentives through April

Frank Filipponio — Wed, 07 Apr 2010 08:29:00 EST

If it ain't broken, don't fix it. The Detroit News is reporting that Toyota will continue offering its current sales incentives through April. And why not? Those deals helped boost sales some 40 percent in March, and after the dip in sales that resulted from its headline-hogging recalls, Toyota is anxious to keep sales rolling. Somebody has to pay for that $16 million fine the government is collecting, so more sales are always a good thing.

The deals include discounted leases on popular models like the Camry, Corolla and RAV4. And if leasing isn't your thing, Toyota Motor Corp. will also extend its zero-percent financing program. Even better, the company plans to expand its two-year free maintenance program to all customers. It was previously available to return customers only, but based on its popularity, Toyota has extended the offer to any new car customer.

[Source: The Detroit News | Image: Ronaldo Schemidt/AFP/Getty Images]

Report: Toyota will continue heavy incentives through April originally appeared on Autoblog on Wed, 07 Apr 2010 08:29:00 EST. Please see our terms for use of feeds.

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Report: Toyota sales may bounce back big time in March

Chris Shunk — Thu, 11 Mar 2010 11:30:00 EST

Filed under: Car Buying, Marketing/Advertising, Toyota

As Toyota's recall issues hit a fevered pitch over the past few months, customer confidence faltered and sales predictably suffered. We were wondering how Toyota would react to the comparative dearth of showroom traffic, and the answer was to take a page out of the domestic's tattered handbook: big-time incentives.

On March 1, Toyota announced zero percent financing, subsidized leases and free maintenance for two years, and the early results appear to be extremely favorable. Automotive News reports that analysts are seeing big-time gains for the Japanese automaker, with evidence that sales are up 50 percent so far for the month. A 50 percent sales increase for the month would more than wipe out Toyota's depressing January and February, but analysts like Edmund's Jessica Caldwell reportedly feel sales will level out to a predicted 30 percent rise by March 31. "Incentives work best in the early going, but they start to peter out as the month goes along."

So does news of a Toyota sales increase means that Americans are tuning out the recent influx of bad news including a pair of reported runaway Prius hybrids in the interest of saving money? AN reports that analysts like Caldwell and George Magliano at IHS Global Insight feel Toyota loyalists are jumping at the company's big-time incentives, and the brand will have to try new things to attract new customers in the months ahead. That may be true, but we're thinking Toyota must be more than a bit relieved that customers are coming back to showrooms, at least for now.

[Source: Automotive News - sub. req. | Image: Ronaldo Schemidt/AFP/Getty Images]

Report: Toyota sales may bounce back big time in March originally appeared on Autoblog on Thu, 11 Mar 2010 11:30:00 EST. Please see our terms for use of feeds.

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Toyota looks to boost March sales with "biggest offers ever"

Chris Shunk — Wed, 03 Mar 2010 16:08:00 EST

Filed under: Marketing/Advertising, Recalls, Toyota

Toyota has been getting hammered on Capitol Hill and on the showroom floor, but the Japanese automaker isn't going to take the punishment sitting down. To spur sales during this time of crisis, Toyota is betting big on incentives that included 0 percent financing and leases under $200 on its most popular products.

Effective immediately, Toyota is offering 0 percent financing for up to 60 months for the Camry, Corolla, Matrix, RAV4, Avalon, Highlander, Tundra and Yaris. If you're not looking to buy, the embattled automaker is offering lease specials of $179 on the Corolla and $199 for the perennially top-selling midsize Camry. To sweeten the pot, Toyota is also offering two years of free maintenance for all customers who purchase a new Toyota and have proof of current ownership of a Scion, Lexus or Toyota in the household.

With sales down nine percent in February versus the same month in 2009, Toyota needed to do something to get foot traffic into its dealerships. Since these are some of the best incentives we've ever seen Toyota dole out, we're thinking it just may work. But if these generous incentives don't spur a rush to local Toyota dealers, we're not sure what more Toyota will be able to do to regain lost momentum. The new rebates are good through April 5, 2010. Hit the jump to read over the Toyota press release.

[Source: Toyota]

Continue reading Toyota looks to boost March sales with "biggest offers ever"

Toyota looks to boost March sales with "biggest offers ever" originally appeared on Autoblog on Wed, 03 Mar 2010 16:08:00 EST. Please see our terms for use of feeds.

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Toyota reportedly mulling longer warranties, cash incentives to rekindle consumer confidence

Chris Shunk — Mon, 15 Feb 2010 15:58:00 EST

Filed under: Car Buying, Government/Legal, Recalls, Toyota

In light of the litany of recall-related problems Toyota is facing right now, executives at the Japanese automaker are predictably being very selective about what they say - and when they say it. But while Toyota brass is playing its cards close to the vest, dealers are apparently starting to spill the beans about the automaker's plans to spur sales. Bloomberg is reporting that three executives from retailer groups with Toyota franchises reveal that the Japanese automaker is mulling the idea of extending warranties to as long as 10 years to gain back customer trust. If the extended warranty materializes, the Hyundai-like coverage could add quite a bit of money into Toyota's warranty costs, but that cost could be made back in augmented consumer confidence and higher sales totals.

Toyota is also reportedly looking into ways to get metal moving again, and cash incentives of thousands of dollars may be used to accomplish the feat. Toyota sales suffered in a big way (down 16 percent for the month of January) in part because it couldn't sell eight models affected by a stop sale related to the recall of 2.3 million vehicles covered under the sticking gas pedal recall. Toyota will reportedly wait until after its meetings with Congress from February 24 though March 2 to make any announcements.

Tired of Toyota recall news? Try out the recall-free version of Autoblog.

[Source: Bloomberg]

Toyota reportedly mulling longer warranties, cash incentives to rekindle consumer confidence originally appeared on Autoblog on Mon, 15 Feb 2010 15:58:00 EST. Please see our terms for use of feeds.

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Dismal April motivates Toyota to increase production and incentives

Michael Harley — Mon, 04 May 2009 13:01:00 EST

Filed under: Plants/Manufacturing, Marketing/Advertising, Toyota, Earnings/Financials

With April's sales volume down over 41% and Ford pushing it aside in the numbers race, the Toyota division is motivated to move units in May. At the request of dealers, the automaker is boosting production of its best-selling Toyota Camry and popular RAV4 SUV. In addition, a new ad campaign, called "Perfect Timing," started on Friday. It is an attempt to boost sales on vehicles using reduced interest rates, more consumer cash and a focus on low payment leases. The campaign caters to regional needs with aggressive leases in the East, and zero-percent interest rates in the West and Midwest. Bob Carter, Toyota division general manager, told Automotive News that "there will be an enhanced package of incentives compared with what Toyota currently offers." Carter didn't elaborate, so it seems you'll just have to visit a showroom to get the details. Regardless, it appears that Toyota is willing to make a deal like never before.

[Source: Automotive News, subs. req'd | Photo by Justin Sullivan/Getty]

Dismal April motivates Toyota to increase production and incentives originally appeared on Autoblog on Mon, 04 May 2009 13:01:00 EST. Please see our terms for use of feeds.

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Not Saved By Zero: Toyota looking to ramp up rebates

Jeremy Korzeniewski — Thu, 15 Jan 2009 17:29:00 EST

Filed under: Car Buying, Marketing/Advertising, Toyota

Remember that horrible "Saved by Zero" campaign (no, not that one) that Toyota ran late last year? Besides producing some of the worst commercials the world has ever seen, it was a failure when it came to its singular goal of selling more cars and trucks. Toyota was the only automaker in the top five that actually lost market share at the end of the year, despite running its 0% financing deals. So, what's next? Incentives.

According to Jim Lentz, president of Toyota Motor Sales here in the States, "The shift that you'll see in January from December is more consumer cash and less APR and lease support through our dealers."

These days, the biggest rebates come on big trucks like the Tundra, but we should also expect some great on everything from subcompacts like the Yaris to hybrids like the Prius. So if you're thinking of buying a new Toyota, you might want to hang on a little while longer.

[Source: Automotive News - Sub. Req.]

Not Saved By Zero: Toyota looking to ramp up rebates originally appeared on Autoblog on Thu, 15 Jan 2009 17:29:00 EST. Please see our terms for use of feeds.

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Saved by Zero? Toyota extends 0% financing through November

Jeremy Korzeniewski — Tue, 04 Nov 2008 08:01:00 EST

Filed under: Car Buying, Toyota

We have good news and bad news to report regarding Toyota's 0% financing deal that's currently going on in the U.S. The Japanese automaker must be seeing positive results from the operation, as it's extended the incentive through the month of November. That's the good news. The bad? This announcement likely means that we'll all need to put up with the excruciatingly horrible "Saved by Zero" commercials that have been infecting our TV screens these last few weeks. *Shudder*

For the month of October, Toyota saw its average daily sales rate drop 24%. While that's surely not the direction in which the automaker would like to see its sales slide, that figure is dramatically better than that of General Motors, it's largest rival in the U.S., which posted declines of around 45%. It may be a shallow victory, but it's apparently enough that these financing deals will remain in effect on 11 models through all of November.

[Source: The Detroit News]

Saved by Zero? Toyota extends 0% financing through November originally appeared on Autoblog on Tue, 04 Nov 2008 08:01:00 EST. Please see our terms for use of feeds.

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Toyota makes money in its Q2, but Tundra incentives take their toll

John Neff — Wed, 07 Nov 2007 13:34:00 EST

Filed under: Toyota, Earnings/Financials

Whenever we talk about GM's performance in the global market, people invariably want to hear about how well Toyota is doing in the same arena. The Japanese automaker has been nipping at the General's heels in terms of the number of units each automaker has sold globally so far this year. Earlier in the year, Toyota actually surpassed GM in global sales, but the American auto giant has since regained the lead in year-to-date global sales and keeps it through Q3.

On a global scale, Toyota performed quite well in its own fiscal second quarter, which is the same period as the calendar year third quarter for most companies. During this period, Toyota earned its second highest ever operating profit of $5.01 billion, but its North American figures were hurt by a few factors, chief among them being incentives required to increase sales of its Tundra full-size pickup. Higher raw material costs and, of course, the subprime market meltdown are also contributing factors.

Regardless, Toyota isn't budging on how many vehicles it expects to sell worldwide during its fiscal year that ends March 31, 2008. In fact, it's raised its target to 8.93 million units, up some 40,000 units from previous estimates. Seems that despite recent bumps in the road concerning quality concerns over the car and trucks it sells in the U.S., Toyota's juggernaut keeps on steaming ahead.

[Source: Automotive News, sub. req'd]

Toyota makes money in its Q2, but Tundra incentives take their toll originally appeared on Autoblog on Wed, 07 Nov 2007 13:34:00 EST. Please see our terms for use of feeds.

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Toyota to offer more incentives to Prius shoppers

Chris Tutor — Thu, 05 Apr 2007 08:53:00 EST

Filed under: Car Buying, Green, Toyota

After offering relatively mild deal-sweeteners (cash, financing and lease) to Prius dealers and buyers, Toyota saw sales of the hybrid shoot up 74%. So for April, Toyota will offer Prius purchasers package upgrades such as stability control, upgraded audio systems and a backup camera. Depending on what package is chosen, the deal could be worth up to $2,000.

As we reported in February, Toyota's goal is to sell 150,000 Priuses in 2007, which is 44,000 more than in 2006. If they're already offering as much as $2,000 in upgrades in March, we wonder what to expect by November.

[Source: Automotive News (Sub. Req.)]

Toyota to offer more incentives to Prius shoppers originally appeared on Autoblog on Thu, 05 Apr 2007 08:53:00 EST. Please see our terms for use of feeds.

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Toyota offers Tundra deal to dealers

Chris Tutor — Sat, 17 Mar 2007 18:19:00 EST

Filed under: Car Buying, Truck, Toyota

At the risk of piling on, we bring you more news from the Toyota Tundra camp. Earlier this month Toyota told dealers they would be allowed up to $1,500 in incentives on the base-model Tundra in an effort to take some market share from the Big 2.5. Now, ToMoCo is offering Toyota, Lexus, Scion and Hino Motors Ltd. truck dealers $2,000 toward the purchase of a B-cab Tundra.

In the past, dealers had to go through "channels" to acquire such vehicles, but in addition to the cash, the new program is apparently intended to allow dealers to skip some of the red tape.

Should it be necessary to offer incentives to your dealers to buy the very product you're trying to sell? With more than 1,200 dealers, sales numbers wouldn't spike all that much, actually. But the image boost of all those shiny new Tundras would surely be a plus. Maybe Toyota should also consider offering special incentives to the behind-the-scenes crews of its commercials and, what the heck, those NHTSA workers too. Couldn't hurt.

[Source: AP via Forbes.com]

Toyota offers Tundra deal to dealers originally appeared on Autoblog on Sat, 17 Mar 2007 18:19:00 EST. Please see our terms for use of feeds.

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