Toyota Already Offering Rebates on New Tundra
03-10-07, 07:58 AM
#1
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Toyota Already Offering Rebates on New Tundra
The first Toyota Tundras were feted as they came off the line in Texas on November 17. (Pictured are the trucks with T.J. Tajima, president of Toyota Motor Manufacturing, Texas.) Only a few months later, Toyota is offering incentives on the base model of the pickup.
Date posted: 03-09-2007
TORRANCE, Calif. — Toyota is offering discounts for its base Tundra pickup, a newly redesigned model that is built in Texas and has only been on sale for a matter of weeks. The discounts are intended to last a month and involve $250 coupons that dealers can use at their individual discretion to lure buyers of the regular-cab Tundra.
The Wall Street Journal reports that the discount coupons are good only on models of the entry-level Tundra in stock, and dealers are allowed to offer no more than four per sale for a total discount of $1,000.
The news is unusual mainly in that Toyota rarely incentivizes its vehicles, unlike U.S. manufacturers. The Tundra is intended to face off against Big Three truck offerings like the Chevrolet Silverado and the Ford F-Series. The base V6 regular-cab Tundra has a $22,290 base price. Both the Silverado and F-Series entry-level models start well under $19,000.
Initial incentives on the Tundra reportedly were launched at the beginning of February in the form of lower-interest loans, with the new discounts being added now to enhance the program.
What this means to you: The truck segment is competitive, and Toyota shows it recognizes this.
Source: http://www.edmunds.com/insideline/do...cleId=119933#2
03-10-07, 11:32 AM
#2
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While the new Tundra is pretty good looking, the regular (2 door) cab version looked pretty awkward and small. I think Ford offers a regular cab for people who want to spend the least amount of money for a truck. I expect a Tundra version is still more expensive than a super cab F-150 and looks funky, so maybe that's why it's not doing so well.
03-10-07, 06:01 PM
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Toyota messed up. Nobody is dumb enough to buy a 2dr V6 fullsize truck. Especially when fuel economy is the same as the 5.7L V8. This is a 5600lb truck, 245hp ain't gonna be enough get anything important done except going to the mall......hence the rebates!! I wish it was for the 5.7L V8 SR5.
Last edited by RiceMaster; 03-10-07 at 06:21 PM.
03-10-07, 06:30 PM
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I think the auto industry is having a tough time across all lines. Most likely due to the economy and gas prices to some extent.
BMW is offering leases deals on the new 335 sedan, coupe, and verts, and the X5.
Lexus has a shortage of IS350s. Most likely because they are diverting drive trains to the higher value GS350. yet it is clear folks want smaller cars with bettr mileage.
I just read an article that Toyota has never made money off the Prius. They have been selling them at a loss since day one. Mostly to prove their hybrid technology. I wonder if they are even making money off the RX400h and GS400h?
BMW is offering leases deals on the new 335 sedan, coupe, and verts, and the X5.
Lexus has a shortage of IS350s. Most likely because they are diverting drive trains to the higher value GS350. yet it is clear folks want smaller cars with bettr mileage.
I just read an article that Toyota has never made money off the Prius. They have been selling them at a loss since day one. Mostly to prove their hybrid technology. I wonder if they are even making money off the RX400h and GS400h?
04-06-07, 10:55 AM
#7
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Toyota Not Panicked Over Pickup
Toyota Not Panicked Over Pickup
By David E. Zoia
WardsAuto.com, Apr 4, 2007 10:10 AM
Toyota Motor Sales U.S.A. Inc. is taking the launch of its new Tundra in stride, refusing to panic over the prospect of using higher incentives to move the fullsize pickups off dealer lots.
Toyota last week added a $1,000 trade-in allowance on top of a discount of up to $2,000, a move considered unusual for a vehicle less than two months into its launch, particularly for Toyota.
But executives say that’s just part and parcel of today’s highly competitive truck market.
“Certainly the whole segment is very incentive-driven,” Don Esmond, senior vice president-automotive operations, says during a conference call with reporters to discuss March sales. “If you look at the market, a lot of competition has been ramped up. There’s $5,000 cash, trade-in cash, dealer certificates – a lot is going on in the market.”
Esmond says Toyota’s incentive programs vary regionally, but most are focused on “transaction issues,” helping dealers close the sale by contributing to trade-in allowances or financing. “We will continue to monitor the market to stay competitive,” he says.
Toyota delivered 13,196 Tundras in March, up 7.8% on a daily-rate basis from year-ago (28 selling days vs. 27), when 11,800 were sold.
Toyota is sticking to its forecast for sales of 200,000 Tundras in this calendar year, Esmond says, and he expects demand to escalate as the auto maker finishes the production rollout that is seeing CrewMax models now beginning to dribble in to dealers.
Toyota delivers 13,196 Tundras in March.
Esmond says Toyota should begin to have the right mix over the next 60-90 days, and “we’re excited about what the market will hold.”
Toyota says it has sold 16,000 Double Cabs so far this year, triple last year. It accounts for about 83% of the Tundra’s mix to date, with regular cabs accounting for about 8% and the CrewMax 9%. Over time, Toyota expects that to shift to 6% regular cab, 64% Double Cab and 30% or more CrewMax. Initial demand for the 5.7L V-8 has been stronger than anticipated, the auto maker says.
Tundra customers mostly are Toyota owners, Esmond says, with some sales coming from buyers switching brands, new to the pickup segment or first-time vehicle buyers.
General Motors Corp. says it hasn’t been impacted by the Tundra, confirming Esmond’s take that most buyers are Toyota loyalists.
“Toyota is drawing from a very loyal Tundra customer base right now,” says Paul Ballew, GM’s executive director-global market and industry analysis. “So we’re not seeing a lot of cross-shopping or interaction occurring at this point. We’ll see. Out of the gate, we’re not seeing a big impact.”
Toyota officials dismiss criticism the truck may be priced too high, though Esmond says the auto maker may look to expand sales in the commercial side of the market by putting in vinyl seats and stripping out some content.
Tundra sales contributed to Toyota’s best-ever sales month in the U.S., delivering 242,765 cars and trucks, up 7.7% from like-2006.
Included in the tally were an all-time record 19,156 Prius hybrids, more than double year-ago. That was due in part to the reduction in tax incentives – from $1,575 to $782 – that took effect at the end of the month and pulled demand into March. Toyota also had incentives on the Prius, including 0% financing for 24 months.
Although that sales pace is expected to slow somewhat, Toyota still plans to sell 175,000 Priuses this year and says it currently has only a 20-day supply of the vehicle.
The auto maker says March marked a milestone for hybrid-electric vehicles, as Toyota sold its 500,000 (including Lexus models) since launching HEV sales in the U.S. in 2000.
The month also was a record March for passenger-car sales for Toyota overall.
The sell-down of outgoing Scion xBs and xAs continues, Esmond says, with only a 15-day supply in stock. The new xB hits the market May 7. There are less than 4,000 xA models in stock.
By David E. Zoia
WardsAuto.com, Apr 4, 2007 10:10 AM
Toyota Motor Sales U.S.A. Inc. is taking the launch of its new Tundra in stride, refusing to panic over the prospect of using higher incentives to move the fullsize pickups off dealer lots.
Toyota last week added a $1,000 trade-in allowance on top of a discount of up to $2,000, a move considered unusual for a vehicle less than two months into its launch, particularly for Toyota.
But executives say that’s just part and parcel of today’s highly competitive truck market.
“Certainly the whole segment is very incentive-driven,” Don Esmond, senior vice president-automotive operations, says during a conference call with reporters to discuss March sales. “If you look at the market, a lot of competition has been ramped up. There’s $5,000 cash, trade-in cash, dealer certificates – a lot is going on in the market.”
Esmond says Toyota’s incentive programs vary regionally, but most are focused on “transaction issues,” helping dealers close the sale by contributing to trade-in allowances or financing. “We will continue to monitor the market to stay competitive,” he says.
Toyota delivered 13,196 Tundras in March, up 7.8% on a daily-rate basis from year-ago (28 selling days vs. 27), when 11,800 were sold.
Toyota is sticking to its forecast for sales of 200,000 Tundras in this calendar year, Esmond says, and he expects demand to escalate as the auto maker finishes the production rollout that is seeing CrewMax models now beginning to dribble in to dealers.
Toyota delivers 13,196 Tundras in March.
Esmond says Toyota should begin to have the right mix over the next 60-90 days, and “we’re excited about what the market will hold.”
Toyota says it has sold 16,000 Double Cabs so far this year, triple last year. It accounts for about 83% of the Tundra’s mix to date, with regular cabs accounting for about 8% and the CrewMax 9%. Over time, Toyota expects that to shift to 6% regular cab, 64% Double Cab and 30% or more CrewMax. Initial demand for the 5.7L V-8 has been stronger than anticipated, the auto maker says.
Tundra customers mostly are Toyota owners, Esmond says, with some sales coming from buyers switching brands, new to the pickup segment or first-time vehicle buyers.
General Motors Corp. says it hasn’t been impacted by the Tundra, confirming Esmond’s take that most buyers are Toyota loyalists.
“Toyota is drawing from a very loyal Tundra customer base right now,” says Paul Ballew, GM’s executive director-global market and industry analysis. “So we’re not seeing a lot of cross-shopping or interaction occurring at this point. We’ll see. Out of the gate, we’re not seeing a big impact.”
Toyota officials dismiss criticism the truck may be priced too high, though Esmond says the auto maker may look to expand sales in the commercial side of the market by putting in vinyl seats and stripping out some content.
Tundra sales contributed to Toyota’s best-ever sales month in the U.S., delivering 242,765 cars and trucks, up 7.7% from like-2006.
Included in the tally were an all-time record 19,156 Prius hybrids, more than double year-ago. That was due in part to the reduction in tax incentives – from $1,575 to $782 – that took effect at the end of the month and pulled demand into March. Toyota also had incentives on the Prius, including 0% financing for 24 months.
Although that sales pace is expected to slow somewhat, Toyota still plans to sell 175,000 Priuses this year and says it currently has only a 20-day supply of the vehicle.
The auto maker says March marked a milestone for hybrid-electric vehicles, as Toyota sold its 500,000 (including Lexus models) since launching HEV sales in the U.S. in 2000.
The month also was a record March for passenger-car sales for Toyota overall.
The sell-down of outgoing Scion xBs and xAs continues, Esmond says, with only a 15-day supply in stock. The new xB hits the market May 7. There are less than 4,000 xA models in stock.
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04-06-07, 11:10 AM
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When both the Indiana and Texas plants are fullly ramped, I expect Toyota to be selling around 20,000 Tundras monthly, if not more. The Crewmax just went on sale at the end of March, and barely made an impact on sales. On that point, Crewmax demand seems very high. One dealer in So Cal has over 100 Crewmax orders alone!
I think Toyota will in fact hit their sales goal.
I think Toyota will in fact hit their sales goal.
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