Toyota Boosts Incentives to Counter 41% April Drop

Washington DC May 5, 2009; The AIADA newsletter reported that Toyota will respond to a 41.1 percent April slide in U.S. sales by pushing more leases, reducing interest rates, and offering more consumer cash.

Due to dealer request, the company also has plans this month to boost production of its best-selling car, the Camry, as well as the RAV4 SUV.

Automotive News reports that the division lost 1.5 percentage points of market share for April.

Toyota's share stands at 13.7 percent after four months, down from 13.9 at the start of the year. Combined sales of Toyota, Scion, and Lexus models fell 41.9 percent in April. Industry sales dropped 34.3 percent for the year's smallest decline.

To counter the downturn, Toyota plans to roll out a new ad campaign, called "Perfect Timing," starting this Friday, which will intensify during the week of May 11. Tailored to specific regions, the incentives campaign includes almost every Toyota model, with plans to focus on leases in the East and interest rates as low as 0 percent in the West and Midwest.