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

There is definitely a second-generation Super Series from McLaren. Even in camouflaged form, it is simply incredible. But while we still don’t have the full data on how truly dynamic...
by - February 25, 2017
A lot of fans are excited with the news that Porsche could be unveiling a performance version of its Panamera 4 E-Hybrid plug-in hybrid during the 2017 Geneva Auto Show. ...
by - February 25, 2017
Tesla is finally setting a more “definite” schedule with regards to the official launch of the Tesla Model 3 electric car. A “limited production” is said to be slated to...
by - February 25, 2017
Are you a big fan of legendary boxer Mike Tyson, the former heavyweight world champion? Or are you a big fan of the iconic Ferrari F50? Either way, you will...
by - February 24, 2017
It seems that AM-RB 001 hypercar is not the only vehicle project that Aston Martin and Red Bull Racing has gone into. This time, don’t expect something as outlandish as...
by - February 24, 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