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.

If you liked the article, share on:

Topics: toyota, gm, incentives

Comments

Recommended

The 2018 Jaguar XEL with its stretched-out wheelbase and longer doors is the newest addition to the growing list of premium sedans in China---joining the ranks of Mercedes-Benz C-Class L,...
by - November 21, 2017
Honda this week announced that its all-new 2018 Clarity Plug-in Hybrid will arrive at US dealerships with a starting price of $33,400 beginning on the first of December. Because the...
by - November 21, 2017
Lamborghini had been expected to refresh its entry-level model – the Lamborghini Huracan – in late 2018 or early 2019. But here is some good news for fans of the...
by - November 20, 2017
The Chevrolet Corvette will be turning 65 years old in 2018, and as part of the celebrations, the brand is introducing a special edition C7 – the Chevrolet Corvette Carbon...
by - November 19, 2017
Tesla revealed that with its new Semi, truck drivers can expect better experience especially with heightened safety and the lower cost of transporting cargo. Indeed, the cabin of the new...
by - November 19, 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