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Toyota Offers Big Incentives to Loyal Owners

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author photo by Autotrader February 2011

Despite a difficult 2010, Toyota remained the world’s largest automaker – and it intends to keep that number one spot in 2011. Toyota recently announced an aggressive advertising and incentive campaign designed to boost first-quarter sales, following an already-impressive January showing.

The programs, which run through the end of March, offer aggressive financing rates as low as 0 percent for terms up to 60 months, as well as cash back figures, which increase for “loyal owners.” In January, Toyota spent an average of $2,179 per vehicle in incentives – an increase of nearly 40 percent over last January, but comparable December’s $2,245 per vehicle and still below the industry average of nearly $2,600 per vehicle. The automaker says incentive spending will increase in February in conjunction with its new programs.

“We will be leading the market,” Toyota division’s general manager told Automotive News. “The market is still transactional-based, but this is going to get us off to a very fast start. We are going to stay aggressive in the market. It’s our plan that we want to grow faster than the industry rate.”

While incentives are one way to spur such growth, advertising is another – and Toyota plans a major blitz on that front, as well. Later this month, Toyota will launch a new advertising campaign called “No. 1 for a Reason,” detailing the stories behind some of the automaker’s successes, like the Camry’s nine-year run as America’s best-selling car. The ads will also push the new incentives as well as Toyota Care, Toyota’s new free maintenance program.

“It’s very much a celebratory ad campaign, but we’re also saying, ‘Here are the reasons why,’” Carter told Automotive News.

Toyota has much to celebrate in the wake of its January sales totals, which reached 115,856 including the automaker’s Scion and Lexus brands. That number is up nearly 20 percent over last January, when Toyota was in the thick of massive recalls that damaged public perception and put a dent in its sales figures.

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This image is a stock photo and is not an exact representation of any vehicle offered for sale. Advertised vehicles of this model may have styling, trim levels, colors and optional equipment that differ from the stock photo.
Toyota Offers Big Incentives to Loyal Owners - Autotrader