Toyota's 0% Deals Driving All New Car Sales Up 44%

ToyotaToyota may end March with a soaring 82 percent jump in sales driven by its landmark zero percent financing incentives on several models, projects Edmunds.com, the automotive industry resource site.
And it has drawn competitors into similar deals that will boost overall new auto sales up 44 percent compared to February, Edmunds said.

If you’re looking to buy a car from another manufacturer which doesn’t offer a 0% APR deal, you may want to enrol in a negotiation skills training course so you have the upper hand when entering the room.

Toyota’s promotions were in response to the worst quality and recall crisis in its history, which erupted last month and is still making headlines. Ford, General Motors and No. 2 Japanese rival Honda have followed Toyota with its own financing or lease promotions.
Industry-wide, Edmunds predicts new vehicle sales, including fleet sales, to come in at 1,119,700 units for March, a 30.9 percent increase from March 2009 and a 43.9 percent increase from February 2010. Its analysts predict that March’s seasonally adjusted annualized rate (SAAR) will be 12.4 million, up from 10.3 million in February 2010, a still encouraging 20 percent jump.
“Although this SAAR sounds promising, it’s too early to wave the flag and say that the economy has turned the corner,” Edmunds.com CEO Jeremy Anwyl. “Incentives drove sales this month, but those were defensive moves in response to Toyota stepping up incentives and are unlikely to last because inventories are simply not high enough to justify them in the long term.”
Toyota’s market share is expected to be 16.3 percent in March 2010, up from 15.5 percent in March 2009 and up from 12.9 percent in February 2010.
Toyota’s troubles haven’t translated into greater combined market share for U.S. carmakers. The combined monthly U.S. market share for Chrysler, Ford and General Motors is estimated at 44.0 percent in March 2010, down from 45.1 percent in March 2009 and down from 47.1 percent in February 2010.
Ford and GM, however, will likely register big increases for March as well.
Edmunds.com predicts GM will sell 197,200 units in March, up 27.0 percent compared to March 2009 and up 39.3 percent from February 2010.
Ford will sell 201,100 units in March, up 55.5 percent compared to March 2009 and up 43.3 percent from February 2010.
Chrysler didn’t far as well, but will manage a month-to-month jump. Chrysler will sell 94,100 units in March, down 6.5 percent compared to March 2009 and up 11.7 percent from February 2010.

5 thoughts on “Toyota's 0% Deals Driving All New Car Sales Up 44%

  • March 26, 2010 at 6:38 pm
    Permalink

    Toyota has YET to “fix” the runaway acceleration problems they have, but now they want to give us “0% Interest” on their death traps?! Why “0%”, is that so people can save a little money to spend on a nicer funeral? Toyota has the blood of OVER one hundred innocent Americans on it’s hands and the civil courts, plus car buyers, will make Toyota pay in a HUGE way. My wife is an Attorney at Law and she says the combined settlements will probably total in the billions and very likely exceed Toyota’s product liability insurance coverage limits – Toyota will also be paying punitive damages because they conspired to hide serious safety problems that have been causing deaths. You can bet Toyota will attempt to settle the cases “on the cheap” out of court, then seal the records, as the Japanese manufacturers always do to hide their EXTREMELY POOR SAFETY RECORD. Propaganda and lies will be pouring out of Toyota like Niagara Falls in the next few days! I’ll never understand why gullible people just ADORE products which they’ve been suckered into believing are designed and built by happy little gnomes working for a perfect company with chocolate covered corporate offices located in never never land. SHAME ON TOYOTA!

  • March 27, 2010 at 7:47 am
    Permalink

    Toyota has always been great for us. We 5 Toyota in the family for the past 20 years and never have problem acceleration. Since problem exists in all make across the industry, why is Toyota on the media and lawyer after them all over. Is Toyota take responsibility to make the car by acknowledge problem to make the car safer will get bad press and sue? What to all the other make…? Blaming all driver fault. That is just so unfair. I think it is all government trick to get better sell for GM.
    Sick and unfair. Who will like to invest in this country… having the government take our tax dollar and become your competitor..
    Great chance for lawyers getting the big bucks here….

  • March 27, 2010 at 10:00 am
    Permalink

    Oh get over it and jump off the bash Toyota bandwagon already.

  • March 28, 2010 at 6:07 pm
    Permalink

    Who in their right mind would buy a Toyota?? And “Guest”, you type like English is not your first language… Are you Japanese? That would make sense. I have never, and will never, buy a Toyota. Anyone who owns a Toyota and says they are not worried about the recall is just someone who doesn’t want to admit they have a potential planter sitting in their driveway. “The Toyota Bashing Bandwagon”?? Are you crazy?! People are being killed, and guess what, Toyota knew about this problem years ago. Shame on them.

  • March 28, 2010 at 10:10 pm
    Permalink

    Looks like all that propaganda about a problem blown way out of proportion didn’t work. Most will still buy Toyota, including myself, because they build better cars than the competition. It’s that simple.

Leave a Reply

Your email address will not be published. Required fields are marked *