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Attempting to put its recalls and unintended acceleration imbroglio into the rear-view mirror, Toyota called upon its deep reserves of cash, launching a bonanza of incentive spending in March which, naturally, obligated other carmakers to do the same. The subsidized leasing and zero-interest financing, combined with a hefty shot of fleet sales, juiced the market, driving new-car sales up 24% over the dismal March 2009 total. The March figures portend full-year new-car sales of 11.7 million, which is a lot better than last year, when industry watcher were speculating whether the year would end up below 10 million (it actually finished at 10.4 million). But step back a bit, and you realize that even 11.7 million is still a long way from the 16.8 million average annual sales the industry was enjoying in the decade ending in 2007.inline_mediumwraptextright31857777/features/news/1004_march_2010_auto_sales_analysis0912_04_z+2010_toyota_4Runner_sR5_4x4_v6+front_three_quarter_view.jpgTrue
General Motors Co. is poised to regain momentum as Toyota Motor Corp. suffers permanent damage to its reputation from worldwide recalls of more than 8 million vehicles, GM Vice Chairman Bob Lutz said. Full story…
March proved incentives work. Battered by recalls and a tarnished image, Toyota cranked up the cash machine to record levels and all was forgiven. March sales skyrocketed 86.8% compared to February and, adjusted for selling days, finished 35.3% ahead of March 2009 at 186,863 units. Full story…
General Motors Co. posted a 21 percent increase in March U.S. sales while Toyota Motor Corp. and Ford Motor Co. rose more than 40 percent as higher incentives industrywide helped lure buyers to showrooms. Full story…
Toyota Motor Corp. and Ford Motor Co. posted big U.S. sales gains in March as industrywide incentives and improving consumer confidence brought buyers back to showrooms. Total U.S. sales advanced 24 percent from the depressed levels of March 2009. Full story…
After a strong, incentive-driven sales increase in March, Toyota will announce Monday what kind of spiffs it will use to continue promoting its vehicles. Full story…
When Scion unveiled its tricked-out, Toyota iQ-based microcar concept at last year's New York auto show, executives insisted it was there to test America's appetite for ultra-small commuter vehicles. Apparently we're hungry for tiny transportation, as the automaker is using this year's show to publically unveil the 2011 Scion iQ.inline_mediumwraptextright32798685/features/news/1003_2011_scion_iq2011-scion-iQ-front-three-quarter.jpgTrue