Toyota Offering Deals on 2011 Models
In order to move the merchandise, Toyota is keeping incentives and dealer discounts high.
Because of recent safety and recall troubles, Toyota dealers are forced to accept lower gross profits, resulting in transaction prices on new 2011 models that are the lowest of all mainstream brands.
Despite deep discounting at both the manufacturer and dealer level, Toyota has seen sales rise a meager 1% so far this year, while most of the rest of the industry is posting double digit increases.
The discounts on the top-selling Camry have been particularly strong, leading dealers to complain about their inability to get good margins.
Toyota sales are weighted heavily in two markets still rooted in recession, California and Florida, further skewing nationwide transaction price figures as dealers in those states become more desperate to sell cars.
Toyota's factory incentives are still on the low side, industry-wide, putting more pressure on dealers to cut margins, in order to stay competitive. The result is the lowest transaction price as a percentage of sticker price on new 2011 cars.
If you're considering buying a 2011 model, you should definitely be considering Toyota if you want to get a great deal.
My Recommendation for Car ShoppersTrueCar No-Haggle, Edmunds Price Promise, and 1-800 Car Show are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
California Residents - Important:There is a new online car buying service called Roadster, available only to California residents, which I highly recommend you try - especially if you hate the stress of haggling with a car salesman. They provide an expert concierge who negotiates the price of the car and delivers it to your home with zero hassle - you never have to interact with a dealership. Here is my in-depth review of Roadster and why I recommend it.
- Gregg Fidan
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About: Gregg Fidan
Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
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