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Toyota was determined to get the momentum back in its sales with incentives, and it did the trick. Sales jumped 41% over last year. Both the Toyota brand and Lexus shared the gain equally: Toyota brand up 41%; Lexus up 42%. Those are raw unadjusted numbers, as TTAC prefers. Until I get my calculator humming, the highlights here are adjusted for DSR, which means they are lower than the raw ones: Camry: +35%; Corolla: +28%; Prius: +27%; Venza: +36%; Rav4: +108%; Highlander: +113%; 4Runner: +140%. Just like the good old days!
Lexus’ ES 350 was up 15%; the RX up 26%. Full chart after the jump:
18 Comments on “Toyota Sales Enjoy Intended Accelleration: Up 41%...”
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Awful photoshop! But it’s nice to see common sense prevailing over media and political hype.
…Just like the good old days…
Which part of the good old days? 0% financing for 60 months even on hybrids. Rebates of $500 to %3,000 on top of the 0% financing? Free 24 months of service? Deep incentives that gut the resale value for existing owners and hurt TCO figures?
Or maybe the good old days where Toyota fuel economy is drifting further and further behind? Hyundai is rolling out a 274 HP Sonata that gets 22/34 MPG and does it without a hybrid system next year. The Fusion gets 34 MPG. The lowly Malibu gets 33.
What happens when the deep incentives go away? What happens when two to three months of pent up demand is churned through? Its real easy to be successful when you’re giving away your product.
So, Toyota can’t use the “Keep America Rolling” mantra this Spring?
Bloomberg:
“GM incentives ranked fourth highest, behind Ford Motor, Chrysler and “an import competitor,” Susan Docherty said.
GM, Ford and other automakers use J.D. Power and Associates data to measure incentives, Docherty said.
But Edmunds.com’s incentive measure puts GM first among all automakers with $3,519 spent per vehicle last month. That compares with an industry average of $2,742, the consumer auto site says.
Both Edmunds.com and J.D. Power measure customer cash, interest and lease incentives, along with cash to dealers for specific vehicles. But J.D. Power also includes cash that automakers give dealers for meeting sales volume objectives.”
Aw shucks! Just when you thought they’d be going away…
The Niedermayers always speak positive of Toyota.
Who are these Niedermayers you speak of?
Toyota sucks.
LOL! Very good mr. P!
Paul: you *would* say that.
;)
It’s people replacing all the cars that have crashed due to UA! Sorry, had to say it.
John
How does this compare to pre-carmageddon numbers?
March 2008 Sales Figures:
Yaris: 12,953 vs. 4,699 in 2010 (DOWN)
Corolla: 25,109 vs. 29,623 in 2010 (UP)
Camry: 40,487 vs. 36,251 in 2010 (DOWN)
Avalon 4,581 vs. 3,124 in 2010 (DOWN)
Prius 20,635 vs. 11,786 in 2010 (DOWN)
Scion xB 4,527 vs. 1,630 in 2010 (DOWN)
Scion tC 4,082 vs. 1,119 in 2010 (DOWN)
Scion xD 2,518 vs. 763 in 2010 (DOWN)
Lexus ES 6,019 vs. 3,860 in 2010 (DOWN)
Lexus LS 2,125 vs. 894 in 2010 (DOWN)
Lexus SC 271 vs. 30 in 2010 (DOWN)
Lexus GS 1,668 vs. 645 in 2010 (DOWN)
Lexus IS 4,798 vs. 3,137 in 2010 (DOWN)
Sienna 12,631 vs. 7,775 in 2010 (DOWN)
RAV4 12,955 vs. 25,781 in 2010 (UP)
FJ Cruiser 3,284 vs. 1,229 in 2010 (DOWN)
4Runner 5,075 vs. 4,108 in 2010 (DOWN)
Highlander 10,832 vs. 11,953 in 2010 (UP)
Land Cruiser 363 vs. 174 in 2010 (DOWN)
Sequoia 2,856 vs. 1,177 in 2010 (DOWN)
4X2 Tacoma 9,090 vs. 4,761 in 2010 (DOWN)
4X4 Tacoma 6,497 vs. 4,680 in 2010 (DOWN)
Tundra 14,311 vs. 10,785 in 2010 (DOWN)
Lexus LX 642 vs. 314 in 2010 (DOWN)
Lexus GX 1,679 vs. 1,785 in 2010 (UP)
Lexus RX 7,737 vs. 8,060 in 2010 (UP)
Toyota did not offer the Venza in 2008 so there is no two year sales comparison. Toyota no longer offers to Solara, which was rolled into the Camry numbers by Toyota in the 2008 data (as counted by Toyota, not me). Matrix/Corolla numbers are combined by Toyota under the Corolla nameplate.
http://www.autospectator.com/cars/toyota-corporate/0039086-toyota-reports-march-2008-sales
Compared to carmageddon, these numbers still suck – but you would see similar suckage across the board with the exception of Hyundai, Kia and Subaru. In 2008 these unit sales were with very light incentives on Toyota’s part and at higher interest rate on car loans (that anyone with a pulse could get on the other side of the coin). Overall interest rates are lower, but credit standards tighter today. Incentives are through the roof compared to 2008. In 2008 Toyota was still selling the Prius at a loss, so although the sales number is impressive the 50% reduction of 2010 models were sold at a profit per unit.
Toyota still suffers from massive over capacity even with this sales boost. Keep in mind that the the “two Tundra” recall was not because there were only two impacted vehicles. There were 500 impacted Tundras built on October 24, 2009, but as of March only 2 had made it into customer’s hands. Inventory turn remains a big issue and will for most of 2010, incentives or not (and an industry wide not a Toyota specific issue). Key models will continue to sell well.
All I can say is Omedetou to Toyota…it seems like the worst is over…save the lawsuitsunami.
Hmmm… in general, it seems as though Toyota’s el cheapo cars declined while the mid price and better vehicles climbed. This suggests good things for overall gross revenue and profitability. Depending, of course, on the exact incentives involved.
Interesting that the Prius is pulling strong while Honda’s hybrids have rolled over and died on the market.
Scion seems to be fading to black. Total Scion sales are down in the Mitsubishi and Suzuki swamp levels.
What? No comment about the turd Scion left on the sidewalk.
Seems like the biggest gains are in models less associated with the UIA scandal. Particularly trucks and SUV’s. Toyota’s car sales really didn’t do that well in comparison. Which might be an industry trend, or might have to do with bad press going mostly against the Corolla, Camry and Prius.