Toyota mulls incentives to lure back shoppers
Toyota Motor Corp is mulling an aggressive incentive program for March to lure U.S. customers wary of the car giant after damaging car safety crisis.
The world’s largest automaker, reeling from the largest recall in its history, said most of the vehicles at its U.S. showrooms have been repaired and are back for sale.
“We are studying everything,” U.S. sales Chief Bob Carter told reporters after a meeting with nearly 300 Toyota dealers at the National Automobile Dealers Association convention. “All are under evaluation.”
Don Esmond, senior vice president of Toyota Motor Sales USA, said Toyota will be as aggressive as needed to help dealers keep existing customers and attract new ones.
“We’ll figure what the right cruise missile will be,” said Esmond.
A source briefed on the company’s still-developing plans said Toyota is considering offering a $1,000 rebate in addition to the current $1,000 in cash incentives for returning Toyota customers.
Toyota’s current $1,000 in “loyalty” bonus matches incentives offered by General Motors Co, Ford Motor Co, Chrysler and Hyundai Motor Co to lure Toyota customers.
Other options Toyota is considering include a free maintenance program like oil changes and regular services and a new warranty program that at least matches Hyundai’s market-leading 10-year, 100,000-mile powertrain warranty, the source said.
The executives said most of Toyota’s inventories of 131,000 vehicles involved in the recall have had their pedals repaired and by the end of February, almost all of them will be back in showrooms.
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