Toyota’s new job: Winning over consumers who no longer trust the brand

Article by Christian A., on August 25, 2010

In the last few months, Toyota offered zero-percent financing and other attractive incentives in efforts to counteract the impact of the recent recalls. But eventually, potential buyers are expected to tire of these incentives and Toyota will have to try to bring back customers who don't trust the brand anymore.

Last week, Toyota extended its incentives until June 1. Analysts predict that Toyota will continue to offer deals through the summer but it's inevitable that it will have to cut the incentives and deal with the true extent of the damage from the recalls of over 8 million vehicles due to defective gas pedals and brake problems in the Prius.

James Bell, an analyst with Kelley Blue Book, said that the "deck has been reshuffled." He explained that permanent damage has been done, making Toyota compete "in a way they haven't in 25 years."

Toyota's sales plunged soon after it halted the sale of eight models in late January, but it again drew in the buyers with its incentives in March.

Toyota had been quite successful at attracting local buyers and those who are up for a bargain despite getting a $16.4 million federal fine and the filing of more than 300 state and federal lawsuits against it.

If you liked the article, share on:

Comments

Recommended

Before the W177 goes on sale in 2018, Mercedes-Benz had to go back to the drawing board to check on the A Class’ interior. This is because the new model...
by - November 24, 2017
If you see the Aston Martin’s 2018 Vantage, you would think that it is significantly different from most of Aston’s GT lineup. For instance, if the DB11 is a fine...
by - November 24, 2017
Even as Chevrolet is making a huge splash in the industry with the recent launch of the new Corvette ZR1, there may be trouble brewing. Chevrolet has announced huge discounts...
by - November 24, 2017
The 2018 GMC Sierra 2500HD has arrived this week at the snowy mountains in Colorado for its winter long debut. GMC’s tracked Sierra Mountain Concept will be on display at...
by - November 24, 2017
We’re willing to bet that the Bentley Bentayga is not the first thing that comes to mind for most people who are into off-roading and outdoor activities. It just doesn’t...
by - November 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