Toyota Incentive Push Boosts Intent

  • March 4, 2010
Toyota this week launched a month-long incentive push that includes 0% financing, leasing and customer loyalty and maintenance offers. The marketing program is being supported by a television ad campaign., the auto shopping website and consultancy, says Toyota's announcement generated nearly a 40% spike in purchase intent by its visitors. The firm said that, in January, Toyota's purchase intent averaged just over 13% and then fell to a 9.7% low as a result of the recall announcements. On March 1, Toyota purchase intent had recovered to 13%. On March 2, when the incentives program was announced, Toyota purchase intent rose to 18% -- a 14-month high.

Edmunds also says that announcements of 0% financing by Chrysler and General Motors didn't have the same effect, and that Chrysler purchase intent decreased from 3.3% to 2.9% and GM purchase intent rose slightly from 12.6% to 12.7%.

"Because of the Toyota recall, people have been closely watching the company's moves, and many were ready to take action upon hearing the announcement of this highly anticipated incentives program," said Senior Analyst David Tompkins, in a statement. "Chrysler and GM didn't get quite as much attention for two main reasons: historically -- such as in the Keep America Rolling campaign in 2001 -- followers never get the same level of attention that the initiators do, and, second, this type of announcement is far more rare for Toyota."--Karl Greenberg



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