Toyota Motor Corp. may maintain elevated U.S. discounts for months to draw buyers as the world’s biggest carmaker battles to recover its reputation for quality, according to industry analysts who track pricing and incentives.
The company began offering no-interest loans and discount leases on most Toyota-brand models in early March, extending them this month. The incentives were worth $2,568 per vehicle last month, up $1,003 from a year earlier, according to Santa Monica, California-based Edmunds.com. Toyota hasn’t said if the program will continue through May.
“With what we can gather today, they’re going to have to continue this level of spending until 2011 models start to come in a meaningful way,” said Jesse Toprak, vice president of industry trends at forecaster TrueCar.com in Santa Monica, California. “That could mean until about August.”
2010 New York Auto Show Photo Gallery
2011 Ford Mustang Photo Gallery
Geneva Motor Show Photo Gallery
Read Article