Posted by Anthony Zumpano on January 29, 2010 02:05 PM
As brandchannel reported earlier, Toyota is in trouble. It’s bad enough that one of the world’s most reliable automakers had to recall 1.1 million of its best-selling vehicles on the heels of yet another recall, but now the competition considers the Toyota brand not only damaged, but vulnerable.
Generally, one would expect car buyers spooked by Toyota’s woes to forgo their next Camry for a Nissan Maxima or Honda Accord, but GM and Ford are aggressively trying to insert a Chevy Malibu or a Ford Fusion into the equation. GM is looking to lure current Toyota owners to GMC, Chevy, Cadillac, and Buick showrooms by offering up to $1,000 to terminate a Toyota lease, $1,000 toward a new GM purchase, or a 60-month interest-free loan.Continue reading...