Toyota claims that its conquest ratios have gone back to historical levels, marking the first time since the recalls. Bob Carter, Toyota Division general manager, said that it's typical for about 45% of Toyota sales to come from shoppers who had been driving a Toyota, Scion or Lexus vehicle while with 55% come from competing brands.
Toyota's conquest ratio plunged below 50% during the peak of the acceleration cases in January. But in July, this trend reversed, with 57% of Toyota sales stemming from rival brands.
Carter added that July is the first month of returning to the normal trade-in cycle. Toyota is once again leading retail sales, which went up 17% from June. Camry got back its title of being the top-selling car for the year. Because of that gain in conquest sales, Carter expects Toyota's overall share to grow 2 percentage points in July, to 16.1%.
A portion of these gains originate from bargain hunters who are looking at Toyota's relatively high incentives, which will continue into August.
According to Edmunds, even as Toyota's incentive spending in July decreased when compared to second-quarter levels (an all-time high for Toyota), its discounts continue to be $450 per unit higher than last year. Toyota's US sales climbed 8% year-to-date, to 1.02 million units, in an overall market that has gone up by 15%.