Edmunds.com: Toyota's Generous Incentives Ignite Online Interest
SANTA MONICA, Calif. — Edmunds.com believes Toyota's announcements of zero-percent financing and special lease deals are being very well received because of a sharp rise in purchase intent by site visitors, Auto Remarketing reported. Officials indicated that the incentive offerings generated nearly a 40-percent spike in purchase interest when measured over a 48-hour period. Comparing recent history, the increase is significant. In January, Edmunds.com said Toyota's purchase intent averaged a little more than 13 percent and then fell to as low as 9.7 percent because of recall announcements. On Monday, site officials found that Toyota purchase intent had recovered to 13 percent. On Tuesday when the incentives program was revealed, they spotted that Toyota purchase intent soared to 18 percent — a 14-month high on Edmunds.com. Apparently, slightly later announcements of zero-percent financing by Chrysler and General Motors didn't have the same effect, according to executives. In fact, Edmunds.com indicated that Chrysler purchase intent decreased from 3.3 percent to 2.9 percent, and GM purchase intent rose just slightly from 12.6 percent to 12.7 percent. "Because of the Toyota recall, people have been closely watching the company's moves, and many were ready to take action upon hearing the announcement of this highly anticipated incentives program," explained Edmunds.com senior analyst David Tompkins. "Chrysler and GM didn't get quite as much attention for two main reasons: historically — such as in the Keep America Rolling campaign in 2001 — followers never get the same level of attention that the initiators do, and, second, this type of announcement is far more rare for Toyota," Tompkins continued. George Kang, another senior analyst at Edmunds.com, also offered his perspective on the attention the Toyota incentives sparked. "The Toyota recall saga allowed other automakers to snag some market share, and now Toyota wants it back," Kang interjected. "Despite their ongoing challenges, the company still has plenty of brand strength and consumer confidence," Kang added. Edmunds.com pointed out that purchase intent measures actual buyer interest reflected by pricing research, vehicle configuration and other focused steps. Officials maintain that purchase intent has a strong correlation to sales. They went on to note that automaker purchase intent reflects share of total Edmunds.com traffic engaged in purchase intent activity, while model-level data reflects share of Edmunds.com traffic engaged in purchase intent activity within the indicated model's segment.
More Industry

Pennsylvania Dealership Under New Retailers
The sale of the Chrysler Dodge Jeep Ram store puts a family auto group on a leaner path as first-time dealers take the helm.
Read More →
Battery Storage Takes Priority Over EVs
U.S. automakers are prioritizing battery energy stationary storage over electric-vehicle production as the consumer demand for EVs lags the rest of the world.
Read More →
Auto Dealers Feel Better But Not Great
A second-quarter Cox Automotive poll of franchised retailers and independents found better views of the current market after a good spring but anticipation of third-quarter storminess.
Read More →
New-Vehicle Sales Picture Relative
A May forecast is complicated by last spring’s trade tariff effects on auto retail. Despite continued hard realities, many consumers took advantage of ways to bite the bullet.
Read More →
Auto Group Acquires Third Nissan Rooftop
Iowa-based Coleman Automotive Group recently acquired its seventh dealership, McGrath Nissan, which it renamed Nissan of Elgin.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Building an Extraordinary F&I Agency
Work to determine your specialized talent, because that fact will determine everything about your agency’s future.
Read More →
Recipe for Compliance
The secret to both amazing barbecue and compliance is the same: understanding the basics and committing to a process.
Read More →
EVs Getting More Attractive
A growing percentage of U.S. consumers are open to switching and fewer are adverse to the idea, according to a recently completed survey. That’s despite the end of a tax break.
Read More →
EV Sales Drop in April Following Surge
North American electric-vehicle sales were down 28% year-over-year, a sharp contrast from global EV sales growth of 6%.
Read More →