In the next few weeks, Toyota will launch special leasing and purchase deals in order to boost the declining volume. Toyota’s US sales in October dropped by 4% compared to the previous year.
The overall industry posted a 13% increase. And while other automakers reported sales improvements, Toyota was the exception as it had seen its sales drop due to the recall crisis it faced this year.
When it comes to US sales year-to-date, Toyota posted a 1% increase while the overall market had gone up by 11%. Toyota brand boss Bob Carter told reporters that showroom traffic has improved as consumers were attracted to the new Toyota Care campaign that offers routine maintenance as standard for all vehicles.
He promised that at Toyota's annual Toyotathon sales event later this month, a series of financing and leasing incentives will be announced. He said that marketing and its incentives program will be given a boost but they will still be “consistent in the APR and lease arenas.”
He called them the “best deals of the year” and one proof of this is that the market is being moved by these leasing and APR deals. Carter said that some of the light truck incentives will be cash since this is what’s typical in those segments.
But to protect the brand, most will remain to be leasing and finance deals. Analysts said that sales would be lower in the fourth quarter because of Toyota's persistent image problems from recalls and the big discounts given earlier in the year. [via autonews - sub. required]