Toyota has launched an aggressive advertising and incentives push that will last until March. A marked improvement was seen in Toyota’s sales effort in January. These incentives are actually similar to the ones that took effect in the Toyotathon campaign last year. Included in this list is Toyota’s offer of zero percent financing for 60 months, plus $500 Toyota Financial Services cash back on the Camry.
Bob Carter, Toyota Division general manager, said that an additional $500 cash will be given to loyal Camry owners who have signed up for financing through Toyota Financial Services.
In January 2011, Toyota spent $2,179 per vehicle on incentives, a 37.5 percent climb over January 2010, according to TrueCar data. But from the December 2010 level of $2,245, there was a decline.
Overall, the industry averaged $2,576 per vehicle in January, a slight drop from December and unchanged from last January. Carter asserted that there will be a significant increase in Toyota's February and March incentive spending.
Carter said that Toyota will lead the market, which remains transactional-based. However, Carter believes that this will get the company off to “a very fast start.” He added that Toyota plans to expand quicker than the industry.
The incentives on trucks and SUVs will vary by region but the Camry and Corolla incentives will be nationwide. As a way to inform consumers about the incentives, Toyota will launch an advertising campaign called “No. 1 for a Reason” on Presidents Day weekend.
The commercials will feature stories on how Toyota became and remains to be the top-selling retail brand in America. Among those that will be featured in the ads are Camry's nine-year run as best-selling car and similar stories for Corolla, Tacoma and Prius. [via autonews - sub. required]