Toyota To Plug $1 Billion Into Consumer Incentives

Posted Mar 25, 2010

Analysts expect that Toyota will be spending about $1 billion in the form of consumer incentives to retain customers and gain new ones after the massive recall. This includes zero-interest financing, free maintenance for previous Toyota owners, and subsidized leases. These incentives may last for a model year too. “Once an automaker offers a high level of incentives, it is very difficult to take it away on a model year without having a big drop in sales,” stated TrueCar VP of industry trends Jesse Toprak in an interview with CNN. [CNN]