Daily Auto News Toyota Sees Auto Market Recovery Underway
Daily Auto News
The world’s largest automaker says the worst is over for its industry..
Reuters reports, “Toyota Motor Corp (7203.T), has raised its global sales forecast for the year,” the first time the automaker has predicted an increase in car sales in more than 18 months. The company is also increasing production of some models after months of cutbacks. The moves, Reuters says, mark “the latest sign of a nascent recovery in auto demand.”
Autoblog adds, “Some of the reasons cited for the increased forecast and production center around incentives from governments all over the world. Here in the States, Cash for Clunkers played a big role in Toyota’s sales increase.”
This could all be bad news for car shoppers, however. The cost of a new Toyota has declined over the last year as the company launched sales incentives that, in better times, were fairly rare for the brand. Toyota’s current round of incentive offers includes interest-free financing on many vehicles, as well as cash-back rebates climbing as high as $4,000 on some models, but it ends on Wednesday, September 30. We’ll keep any eye out for any updates, and post them to our Toyota Deals page. But car shoppers should keep in mind that the revised sales forecast means that Toyota expects to have an easier time selling cars next month, and may not be as inclined to discount them.
If you’re in the market for a new car, check out the U.S. News rankings of this year’s best cars as well as this month’s best car deals.
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