Crisis-ridden Toyota has unveiled the “most far-reaching sales program in its history” starting today through April 5 by offering 0 percent APR financing on eight models, the car company’s U.S. division announced today.
Toyota has not been known for sweeping and deep incentive programs.
It’s doing so now as the storm continued to swirl around the auto giant that includes U.S. investigations, additional Congressional hearings and the prolonged recall of millions of vehicles worldwide for sudden-acceleration issues.
The zero-percent APR financing is offered for up to 60 months on 2010 Avalon, Camry, Corolla, Highlander, Matrix, RAV4, Tundra and Yaris models for qualifying buyers.
Toyota U.S. is also offering complimentary, two-year “premium maintenance programs” for customers who purchase or lease a new vehicle, and provide proof of a Toyota, Lexus or Scion vehicle already registered “with applicable conditions.”
“We launched this program to expand the focus on our customers, and thank them for their loyalty by adding value to our products,” said Bob Carter, group vice president and general manager of Toyota Division for Toyota Motor Sales, USA. “We are standing behind our customers and our vehicles. It’s a great time to buy a Toyota.”
Apparently, a majority of Toyota owners are standing behind the company, according to a USA Today/Gallup survey of 2,021 adults that was released today and conducted Feb. 27-28.
The Survey found that 60 percent of Americans said they believe Toyota’s vehicles are safe, and 61 percent said they have not lost confidence in the company. Current Toyota owners are more supportive, with 74 percent saying they have not lost confidence in Toyota vehicles, and 82 percent said they believe Toyota vehicles are safe, the survey said. Just 14 percent said they think the cars are unsafe.
Toyota’s February U.S. sales fell less than analysts expected. Toyota sold 8.7 percent fewer vehicles than a year earlier, compared with increases of 29 percent for Nissan and 13 percent for Honda. Automotive industry analysts expected a monthly drop of somewhere between 10 and 25 percent.
Toyota’s aggressive marketing program will be supported by a television ad campaign that will highlight the “0 percent financing for 60 months offer,” the car company said.