We have to restore sales, and we have to do it now! says Toyota

Article by Christian Andrei, on August 25, 2010

With the car market being up by 24% and Toyota experiencing a sales surge of 41%, many have commented that the carmaker's incentive scheme has truly made an impact. It was set to end on April 5 but Toyota says now that it doesn't have any immediate plans to end the offering.

Toyota Division boss Bob Carter said that dealers needed to restore sales quickly. He acknowledges though that heavy incentives would cause long-term damage on residual values, and eventually, the incentives will have to end. Carter described the brand to be "bruised" and that he has to "rebuild the brand."

The massive recalls that started in late January have resulted to a 9% drop in February sales for Toyota Motors Sales USA.

On March 1, Toyota launched an incentive program that included maintenance at no additional cost, subsidized leases and 0% financing over five years. Toyota is not expected to announce any changes formally until April 6.

Carter said that its dealers have said that not only have Toyota loyalists returned but there were many new buyers as well. Jesse Toprak of consulting firm TrueCar Inc. said that there appears to be a "solid percentage of conquest trade-ins" for Toyota.

Toprak said that conquest numbers would be skewed in March due to this increase. He said that conquests would decline subsequently unless Toyota sweetens its incentives further. Carter and Jim Lentz, Toyota Motor Sales COO, proudly proclaims that the worst of Toyota's sales troubles are over.

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

The Shooting Brake is probably the least rendered body shape in the automotive world. But it’s also the most sought after design among car nuts for its unique, old-fashioned charm....
by - January 23, 2017
Perhaps to make the upcoming Valentine’s day more special, Tinder dating app and Ford UK have cooked up a special blind date for all the single blokes and chicks in...
by - January 23, 2017
2017 is undeniably a very busy year for BMW. After introducing the new 4-Series, the German automaker has just released several new updates. In relation to this, BMW is also...
by - January 23, 2017
The renowned Shelby Super Snake is now 50 years old! As we greet the Super Snake a “happy birthday” or a “happy anniversary,” Shelby itself is celebrating half a century...
by - January 23, 2017
Nearly a year after the Subaru XV Concept was unveiled at the 2016 Geneva Motor Show in Switzerland, this SUV study is making its North American debut at the 2017...
by - January 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