Toyota Executive Says Discounts Are Higher Than They Have Ever Experienced Before

The U.S. auto market has peaked and will shrink this year, with manufacturers using unprecedented incentives to support passenger cars through slumping demand, a Toyota Motor Corp. executive said.

Industrywide deliveries may decline to as low as 17 million vehicles from last year’s record of about 17.5 million, according to Bob Carter, president of Toyota’s U.S. sales unit. A rapid shift in demand toward crossovers and SUVs at the expense of sedans is the main factor driving automakers’ heavy discounts, he said.

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MrEE - 4/12/2017 6:35:17 PM

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No doubt you want a great value with extra incentives, for a vehicle that can last 20-25 years with few repairs, Toyota is where you want to shop.

malba2367 - 4/12/2017 11:12:35 PM

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What you are seeing is a return to normalcy...A lot of people held on to their car during the "great recession" which put additional people in the market the last few years. Now that those additional buyers are out of the market things will go back to normal.

TomM - 4/13/2017 8:21:19 AM

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IF the "incentives" are greater than have ever been seen before - that means that the Automakers have priced these higher incentives into the system - in order to still make money. So - in effect - the actual sold price of the vehicles is where it should have been all along.

MrEE - 4/15/2017 7:37:18 AM

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Hyundai Sonata looks to have record high incentives. This is a matter of moving the planned production and hope to pull sales away from competitors. A buyers market for a mainstream car and fun to have the upper hand at the dealership.

MDarringer - 4/15/2017 11:46:27 AM

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Hyundai is also clearing out the current car because of the restyled/updated one coming.