Toyota Bounces Back
“Toyota may finally be turning the corner. Between their aggressive realignment of production to be more in line with demand, the company’s current incentive offerings and the understanding that the recall issue while severe is statistically small, it’s not surprising that Toyota is now on the road to recovery.” That’s James Bell, executive market analyst, Kelley Blue Book.
Kelley Blue Book is also going to be showing in its May/June Residual Value Guide that the average year-over-year change in 36-month residual values of new Toyotas is forecast to increase by 4.2 percentage points, which is below the industry average of 6.2 percentage points, but still moving in the right direction.
They also found that 45% of in-market new-car shoppers are considering a Toyota, up 13% since last week. Presumably the financing deals being offered—we put in the zip code for the autofieldblog office and see we can be 0% APR financing for 60 months on a 2010 Camry (not the Hybrid, though)—are having a positive effect.
While this whole recall mess is going to drag on and on for sometime to come—you can bet that 36 months from now the lawyers are still going to be in the game—evidentially the market has a somewhat different point of view than those who seemed to think that Toyota was down for the count.