Japan's automakers offer incentives to boost US sales
Monday 04 July 2011
Japanese brands Honda and Toyota increased the discounting of their vehicles last month, according to the monthly analysis by US auto publication Edmunds.com.
A month after the pair slashed US "incentive spending" (discounts) in the wake of the Japanese earthquake and production shortages, both seem to be spending more in a bid to keep customers loyal - even if the cars aren't on the lots.
Edmunds.com said June 30 that Toyota increased its incentive spend by a whopping 30.5 percent in June, while Honda's rose by four percent, introducing a "Honda Promise" program which allows consumers to seal a deal on a new vehicle, even if it can't be delivered for some time.
"By kicking up their incentive spending, Toyota and Honda are sending a clear message that production levels are starting to return, even if those vehicles haven't yet hit dealer lots," said Edmund.com's Jessica Caldwell in a statement.
However, while there was good news from Japanese automakers, overall spending by automakers on discounts remained low - down nearly 20 percent compared to June 2010 at $2,165 per vehicle.
Amercian automakers spent the most, discounting $2,799 per vehicle on average, while European automakers offered $1,961 per vehicle and Japanese automakers shelled out $1,510 to consumers.
The only country's automakers which saw a decrease in the amount being spent to lure consumers in were Korean, with manufacturers cutting deals by 8.5 percent to $1,212 per vehicle.
Much-loved cartoon character returns - without Sir David Jason
Liam Neeson's Downton dreams
Matt Smith is set to join cast of the Jane Austen classic - with a twist
Actress to appear in second series of the hugely popular crime drama
Olympic diver has made his modelling debut for Adidas
Life & Style blogs
Ebola outbreak: Survivor William Pooley is flown to US to give doctor with virus emergency blood transfusion
Jennifer Lawrence nude pictures leaked: Reddit removes 'The Fappening' board dedicated to sharing naked pictures of celebrities
Tezenis removes 'crime scene' pants from Oxford Street store after backlash over 'rape' connotations
A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
iOS 8 review: not an overhaul, but the iPhone is gradually growing up
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Scottish independence referendum: A nation divided against itself
The political class is doing what Hitler couldn’t – destroying Britain
Scottish independence: Nationalist leader Jim Sillars threatens pro-union companies with 'day of reckoning' after independence
Portuguese academic says British are 'filthy, violent and drunk'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
- 1 Thailand beach murders: Thai PM suggests 'attractive' female tourists cannot expect to be safe wearing bikinis
- 2 Scottish independence: Learn from Quebec's mistakes and beware of promises. Vote Yes.
- 3 A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
- 4 Revealed after 75 years of secrecy: 'Fifi' the glamorous WW2 special agent who tested British spies' resolve
- 5 Have you heard about the film Singapore has banned its people from watching? Well, you have now
£30000 - £35000 Per Annum Excellent benefits: Clearwater People Solutions Ltd:...
£40000 - £50000 Per Annum + excellent benefits: Clearwater People Solutions Lt...
£1036224 - £1513056 per annum: Randstad Education Cambridge: Randstad Educatio...
£21552 - £31588 per annum: Randstad Education Cambridge: Are you a fully quali...