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Toyota incentives turn lookers into buyers, survey finds

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Toyota incentives turn lookers into buyers, survey finds

08:29 AM


After the drumbeat of bad news, all Toyota had to do was simply roll out a few meager incentives and it sounds like buyers are ready to bang down the doors of their local dealership -- whether the cars are eventually found defective or not.

Edmunds.com says Toyota's announcement of zero-percent financing and special lease deals earlier this week generated nearly a 40% spike in purchase intent, as measured by visits to the car buying web site. In January, Toyota's purchase intent averaged just over 13% and then fell to a 9.7% low as a result of the recall announcements. On March 1, Toyota purchase intent had recovered to 13%, then it soared an additional five percentage points in a single day after the incentives were announced.

"The Toyota recall saga allowed other automakers to snag some market share, and now Toyota wants it back," said George Kang, senior analyst at Edmunds.com. "Despite their ongoing challenges, the company still has plenty of brand strength and consumer confidence."

Now it looks like the recalls aren't even going to cut into Toyota's resale values that much. "The recall has not yet had a significant negative impact on the resale value of either recalled or non-recalled Toyota vehicles," Kelley Blue Book says



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