Toyota: Don't Call it a Comeback (NYSE:TM),(NYSE:F)
Move over Ford Motor (NYSE:F) -- Toyota Motor (NYSE:TM) is coming on strong as they extend their no-interest loan and discount lease offers for at least another month and may make free maintenance standard for all U.S. buyers. Toyota shares are out of the $70 range and since Feb 24th the stock is up 12%, not to mention sales last month were on fire.
A fantastic ad/marketing campaign and buyer incentives are working for Toyota Motor (TM) helping sales increase and incredible 40% in March. Deep discounts and other programs are luring customers back to the brand after Toyota was forced to recall eight million vehicles worldwide.
Toyota Group Vice President Bob Carter said Toyota dealers have so far repaired about 2 million recalled cars and trucks in the U.S. Dealers are repairing about 50,000 vehicles a day, he said, by adding metal shims to the accelerators and shaving down pedals to prevent them from sticking or getting trapped under floor mats.
Automakers are scheduled to report March sales on Thursday. Toyota's sales fell 9 percent in February while the broader industry saw sales climb 13 percent.
Carter said one big seller in March was the RAV4 small SUV, which saw sales more than triple from February to about 24,000. Those sales got a boost from trade-ins from rival automakers and brisk business from young families, who like how the vehicle combines elements of a sedan and SUV.
Time to go long on Toyota (TM), and Don't Call it a Comeback, take it away LL...