Toyota and GM incentives boosted the U.S. auto market in early March

Article by Christian A., on August 26, 2010

New incentives offered by Toyota and General Motors have enlivened the US car market in early March, a pace that Web site Edmunds has said is the fastest rate so far this year. Edmunds senior analyst Ray Zhou said that from March 1 to 8, the US seasonally adjusted annualized sales rate was 12.5 million units. 

Zhou asserted that this is the highest level since the sudden rise in sales posted in August 2009 due to the cash for clunkers program.

Zhou attributes the surge in sales to the two car firms' generous incentives but he believes that this will eventually cool off and that March will end with a SAAR in the low 11 millions. On March 1, Toyota Motor Sales U.S.A. started offering 0 percent financing, subsidized lease rates and, for repeat customers, two years of free maintenance.

GM immediately announced its own incentive program to match this offering. The US market share for Toyota's brands (Toyota, Scion and Lexus) widened to 16.8% in early March from 12.8% in February. Zhou also revealed that its daily retail sales rate in early March went up about 71% from February.

GM's Chevrolet brand, which offers similar incentives, expanded its market share to 12.9% in early March from 11.3% in February. Edmunds CEO Jeremy Anwyl shared his opinion that Toyota gets the highest scores because it initiated the offer, and people know that the recall crisis it is currently facing make it ready to deal.

Topics: toyota, gm, incentives

If you liked the article, share on:

Comments

Recommended

Skoda recently launched the new Karoq compact SUV as a replacement model to its now-defunct Yeti small crossover. Slotted below the newly introduced Skoda Kodiaq, the new Karoq features a...
by - May 23, 2017
There are already rumors suggesting that the next generation BMW 5-Series GT is expected to be joining the 6-Series range. The latest reports instead tell us that that 3-Series GT...
by - May 23, 2017
In 2004, the British marque Rolls-Royce officially entered South Korea with the opening of their showroom located in Seoul before opening their second showroom last September in Busan. Now RR...
by - May 23, 2017
In a game-changing move, Ford has revealed that it will soon produce its first ever all-electric CUV that will be built to be electric from the ground up, and it...
by - May 23, 2017
The wait for the Mustang’s GT-based Super Snake concept to be released is finally over. Shelby had recently collaborated with Ford Performance and Borla to come up with something that...
by - May 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries