Toyota sales expected to jump 30% in March, thanks to incentives

Earlier this week, Toyota’s CEO Akio Toyoda said that North American sales could recover in March – well, he wasn’t lying. According to reports coming out today, new incentives are boosting Toyota’s U.S. sales for the current month and analysts forecast a 30 percent jump for the month of March.

Toyota’s sales in February fell 10 percent as it struggled with huge recalls across its lineup. On March 1, Toyota introduced 0 percent financing, subsidized leases and free maintenance incentives.

Senior Vice President Don Esmond told reporters today that North American sales surged about 50 percent in the first eight days of March.

“Incentives work best in the early going, but they start to peter out as the month goes along,” Edmunds senior analyst Jessica Caldwell said today. “That”s why it”s important for Toyota to find something else in the months ahead.”

– By: Stephen Calogera

Source: Automotive News (Subscription Required)