Report: Toyota will stick with aggressive consumer incentives this month

Article by Christian Andrei, on August 25, 2010

To hold onto its sales momentum, Toyota will continue offering consumer incentives this month. Meanwhile, Lexus Division has released a program of special leases and low interest rates.

Last April, Toyota-Scion sales increased by 24% over April 2009 to 139,080 cars and trucks. Meanwhile, Lexus sales rose by 29% to 18,359.

Toyota Division started offering incentives on March 2 after global recalls of over 8 million vehicles to repair defects related to unintended acceleration as well as to adjust brakes. Cut-rate lease deals and 0% financing will continue to be offered on its most popular models.

Meantime, Lexus offers a one-month promotion called "Unprecedented Access," which boasts special leases and low annual percentage rate loyalty programs.

According to Toyota Division chief Bob Carter, leasing stood for about 35% of sales last month, up from about 24% that was posted earlier this year.

Carter said that leasing will still play a key role in the division's strategy in the next months. At a sales call, Carter said that this represents a "key benefit" since customers like to change vehicles. Retail sales for Toyota-Scion rose by 30% over April 2009.

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