Toyota Motor Sales U.S.A. will offer a new set of regional cash, interest-rate, and lease incentives on many of its models. Another carmaker that is set to launch new incentives is Nissan, who is aiming for a boost during the Memorial Day. Toyota also revealed its preliminary results, which indicate the sharp drop in sales in early May.
Likewise, Nissan saw its sales grow weaker in the first 10 days of May. Toyota didn’t have a budget to speak of for incentives at the start of the month.
This was because it racked up a ton of expenses to repair the supply line and inventories damaged by the Japan earthquake. The latest efforts to fix its supply chain have been effective.
This is why Toyota now expects that in the next month, it will be able to resume nearly full production. This is why Toyota is raising its incentive spending. On the other hand, Nissan’s facilities in Japan will regain near-full capacity in June.
Its North American factories will follow shortly after. In a memo to dealers, Al Castignetti, Nissan Division general manager, wrote that Nissan is in a “much healthier position” than its Japanese rivals.
He asked dealers to “rev the Nissan engine”' and increase the market share. Nissan will have a Memorial Day tent sale and its best-ever lease deals on Altima and Maxima.
Toyota's U.S. sales through April grew by 9% this year while the overall market went up by 20%. This is mainly attributed to declining supplies of Toyota and Lexus models after the quake.