With final March sales figures still a few weeks away, reports have suggested that Toyota’s March Sales Event has already helped the embattled automaker regain lost momentum. As a result, Don Esmond, senior vice president of Toyota U.S. Sales, suggested that the current incentives might be extended.
According to Esmond, U.S. sales increased by 40 percent in the first 10 days of March. This is a huge gain following the dismal drop in February sales. Among the incentives that helped garner this huge gain is 0 percent financing on most 2010 models.
Before Toyota makes its decision whether to extend this month’s offers, it will first evaluate its impact on customers and dealers. Sales among Toyota dealers Boston MA have certainly rebounded by the incentives, and a continuation may keep that momentum going.
“I think we will have to take a look at results and reevaluate, but the promise I made to dealers was that we will continue to make them competitive,” Esmond said.
Despite offering unprecedented discounts, Toyota is still saving more money per car than GM and other automakers that are also offering incentives this month. Toyota’s incentive spending averaged $1,833 per vehicle while GM’s cost per vehicle is about $3,434.
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