Toyota said that it’s going to stick with its aggressive consumer incentives this month in efforts to keep its strong sales results going following a blow to the brand’s image due to massive recalls. Toyota’s Lexus brand also came out with a program of special leases and low interest rates.
During the month of April, Toyota/Scion sales were up 24 percent over the same period last year to 139,080 cars and trucks. Lexus sales were up 29 percent to 18,359.
Toyota said it will continue with cut-rate lease deals and 0 percent financing on most of its popular models. Available through June 1, Lexus is offering a new promotion called “Unprecedented Access” touting special leases and low annual percentage rates for loyal customers.
Toyota Division chief Bob Carter said that leasing made up about 35 percent of sales last month, up from 24 percent from April, 2008. He said leasing will continue to play a key role in Toyota’s strategy.
“It’s a key benefit for us,” Carter said. “Customers like to change vehicles. We believe this is a strategy that can benefit the entire industry.”
– By: Stephen Calogera
Source: Automotive News (Subscription Required)