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Toyota Retains Large Incentive Advantage

Only Honda spends less attracting shoppers; others far more.

by on Apr.02, 2010

Pedals, smeddles, Toyota moves metal as well as any automaker and at far less cost.

For every $500 that Toyota offers in incentives, other automakers have to counter with incentives ranging from $420 to more than $3,000 to generate the same consideration levels among new car shoppers, according to a report from CNW Research.

The data are for equivalent cars among brands.

The study was conducted during the first quarter of 2010 when Toyota unintended acceleration woes dominated national news coverage, shows that with the exception of Honda, major automakers still lack the innate advantage that Toyota’s reputation has among new car buyers.

During March, Toyota, helped be record level incentives, saw sales rebound to pre-recall levels. About 40% of Toyota buyers came from other makers last month.

Among the big six makers in U.S. sales, Honda retained its consideration advantage, since it only has to spend $425 to Toyota’s $500, continuing a Honda edge, varying from $325 to $475,  that has existed for a decade, according to CNW.

Chrysler was at the other end of the scale, needing $3,100, an all time high for the decade.

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Incentive Equivalent Big Six

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Toyota 500 500 500 500 500 500 500 500 500 500 500
GM 1,950 2,100 2,075 2,150 1,975 1,850 1,125 1,175 1,500 2,000 1,750
Ford 1,550 1,475 1,550 1,575 1,525 1,375 1,525 1,575 1,500 1,250 950
Chrysler 1,750 1,975 1,650 1,525 1,075 1,525 1,775 2,050 2,275 2,675 3,100
Nissan 1,275 1,350 1,150 1,025 875 900 1,025 1,050 1,050 1,075 800
Honda 350 325 325 375 350 425 475 450 425 450 425
Source: CNW Research. Calendar Years, in U.S. dollars. The ratio is Toyota $500 : Other Brand. 2010 data are Q1

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