To increase hybrid sales now especially since the 2010 models are coming in, automakers are offering incredible incentives. The past year has been terrible for the industry but more so for the segment on premium hybrid-electric vehicles. Factors that made this worse include low gas prices and lower demand in the luxury market.
A few days ago, Toyota Motor Corp.'s Lexus premium division, owner of the market's most-expensive hybrid in its LS 600h L, introduced a $10,000 dealer-cash incentive on the '09 model of the flagship hybrid.
Toyota also offers a bounty of $1,000 to any sales associate selling a 2009 LS 600h L, which starts at $106,035. Toyota doesn't break out sales of the hybrid LS in its monthly sales reports; however, sales of the entire LS line are down 53.7% through September as sales in almost all luxury segments continue to decline.
On the other hand, in various regions, General Motors Co.'s Cadillac unit has been advertising five-figure discounts for the 2009 Escalade Hybrid, which starts at $73,135 and ranging to $87,435 for the four-wheel-drive Platinum Edition.
Total sales for the Escalade are down 44% for the year. These fantastic incentives have also been offered with the purchase of the Chevrolet and GMC variants of the fullsize SUV platform that employs GM's "two-mode" hybrid transmission. [via autoobserver]