Under pressure to turn around a share and sales slump, Toyota is spending big.
Toyota Motor Sales, U.S.A. today announced plans to launch what it called its “most far-reaching sales program in its history.”
This latest development followed the announcement that Toyota sales had declined 9% in February, moving far behind number two General Motors in the U.S. market.
Particularly worrisome was a drop in “first time buyers” during the month.
A “stop sale” of its most popular models because of safety recalls at the beginning of the month cost Toyota an estimated 18,000 vehicle sales, according to Bob Carter, group vice president and general manager of Toyota Division for Toyota Motor Sales.
Starting today, through April 5, 2010, the national marketing program includes financing, leasing and customer loyalty offers. Highlights of the program include:
- 0% APR financing for up to 60 months on 2010 Avalon, Camry, Corolla, Highlander, Matrix, RAV4, Tundra and Yaris, for qualifying buyers.
- Low lease rates on 2010 Avalon, Camry, Corolla, Highlander, Matrix, Prius, RAV4, Tundra and Venza, for qualifying buyers. Examples include a Corolla lease for $179 a month and a Camry lease for $199 a month, although offers may vary regionally.
- Complimentary two-year premium maintenance program for customers who purchase or lease a new vehicle and provide proof of a Toyota, Lexus or Scion vehicle already registered in household, 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 Carter. The marketing program will be supported by a television ad campaign from Toyota’s advertising agencies Saatchi & Saatchi and Conill LA.
Carter declined to give a cost for the program.
The “March Sales Event” television ads begin airing tonight, and will highlight the special 0% financing for 60 months offer. The ads will also have discussions with customers who recently purchased Toyota vehicles. Other commercials feature Toyota dealership workers, including salespeople, customer service representatives, technicians and others, thanking customers for their support and loyalty to Toyota.