After Toyota Motor Corp. announced that its production in North America will recover quicker than expected, Southeast Toyota Distributors unleashed an array of improved consumer APR and dealer cash incentives.
The regional distributor sent an e-mail to Toyota dealers, informing them that SET anticipates "in excess of 20,000 vehicles in dealer inventory within the next 30 days.” This figure is much higher than what the company had anticipated earlier this month.
SET will offer the following incentives until June 30: Camry – 0% financing for up to 60 months, and $1,000 dealer cash (up from $750). For the Tundra, Toyota offers 0% financing for up to 60 months, and $2,000 dealer cash (up from $1,000) previously.
The Highlander has financing rates from zero to 2.9% from 36 to 60 months while it offers $500 dealer cash (up from zero). The Avalon is offered with $500 dealer cash, up from zero. The Venza is specified with $500 dealer cash, up from zero.
Sienna is given with $500 dealer cash, up from zero. This new set of deals, which Toyota started to offer right before the Memorial Day holiday weekend, may boost sales as May is about to end. In early May, the demand for new cars and trucks fell. Analysts believe that this was due to increasing fuel prices, shortages in the inventory, and shrinking discounts.
Southeast Toyota consists of 173 independent dealerships located in Florida, Georgia, Alabama, and North and South Carolina, making up about 20% of Toyota's sales in the U.S.
Toyota has announced that starting June 4, U.S. production of the Avalon, Camry, Corolla, Highlander, Matrix, Sequoia, Sienna and Venza will go back to normal.