In Early May, GM Sales Up While Toyota Market Share Drops, According to Edmunds.com
SANTA MONICA, Calif. — May 20, 2010 — Edmunds.com, the premier online resource for automotive information, has evaluated early May car sales and determined that so far this month, General Motors (GM) retail sales are up nine percent while Toyota Motor Sales U.S.A. retail sales are down 12 percent. Within the parent company, Toyota brand retail sales are down 17 percent while the Lexus "Unprecedented Access" promotion, with its low APR and special lease offers, can be credited for increasing the brand's sales 22 percent compared with last month.
"We're noticing that Toyota's incentive program is starting to fall on deaf ears since most of the people who were open to getting deals from the automaker already made their purchases," said Edmunds.com Senior Analyst Jessica Caldwell. "Our Toyota cross-shopping data indicates that the brand has not yet recovered from recent image problems."
Last spring, about 37 percent of Edmunds.com visitors who researched one of Toyota's main competitors also checked out the Toyota brand. That "reverse cross-shopping" rate is currently averaging only about 30 percent.
About Edmunds.com, Inc. (http://www.edmunds.com/about/)
Edmunds.com Inc. publishes four Web sites that empower, engage and educate automotive consumers, enthusiasts and insiders. Edmunds.com, the premier online resource for automotive information, launched in 1995 as the first automotive information Web site. Its mobile site, accessible from any smartphone at www.edmunds.com, makes car pricing and other research tools available for car shoppers at dealerships and otherwise on the go. InsideLine.com is the most-read automotive enthusiast Web site. Its mobile site, accessible from any smartphone at www.insideline.com, features the wireless Web's highest quality car photos and videos. CarSpace is the most established automotive social networking Web site. AutoObserver.com provides insightful automotive industry commentary and analysis. Edmunds.com Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit. Follow Edmunds.com on Twitter@edmunds and fan Edmunds.com on Facebook at http://www.facebook.com/edmunds.