Toyota's March sales up 50%
ERLANGER, Ky. — A high-ranking Toyota executive says the auto company's North American sales spiked around 50 percent the first eight days of March as incentives helped lure customers after a series of embarrassing safety recalls.
Don Esmond, senior vice president of automotive operations for Toyota Motor Sales, said in an interview Tuesday that the early numbers surpassed the company's expectations.
Last week, Toyota, which is usually stingy with incentives, announced new deals designed to bring shoppers back into its showrooms. Existing Toyota owners who buy another vehicle from the company will receive two years of free maintenance, Toyota said. The automaker also is offering zero-percent financing and low-priced leases to customers who buy or lease several of the recalled vehicles, including Corollas, Camrys and Avalons.
Esmond also said there is pent-up demand from buyers who didn't shop for cars during last year's economic downturn.
