Toyota Building Sales on Loyal Customers, Reports Edmunds.com
SANTA MONICA, Calif. — July 8, 2010 — Edmunds.com, the premier online resource for automotive information, has determined that a larger percentage of Toyota's new car sales are now coming from buyers who trade in other Toyotas.
In 2009, 42 percent of Toyota's new car sales included a Toyota trade-in (not counting the Cash for Clunkers period, which created many anomalies in the marketplace). So far in 2010, 49 percent of Toyota's new car sales included a Toyota trade-in.
"Before the big recalls were announced in late January, Toyota had been considered a safe brand for those who didn't know which car to buy," commented Edmunds.com Senior Analyst Karl Brauer. "Now, many of those uncommitted buyers don't feel as confident in the Toyota brand and are turning elsewhere, but some Toyota loyalists are displaying as much confidence as ever."
In June Toyota sales were down 11 percent from May but up seven percent from June 2009. Industry wide, new car sales were down 10 percent from May but up 15 percent from June 2010.
Industry wide in 2010 to date, 42 percent of trade-ins matched the brand of the new vehicle being purchased — the same percentage as last year (not counting the Cash for Clunkers period). Of all brands, Ford traditionally has had the most customer loyalty. Edmunds.com's research indicates that 59 percent of Ford's new car sales typically include a Ford trade-in.
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.