2020 Mercedes A250 4Matic
Toyota quietly puts first incentives on Prius
Richard Truett | Automotive News / February 5, 2007 - 1:00 am
Amid all the recent talk in Washington about raising fuel economy standards, Toyota Motor Sales U.S.A. was quietly trying to work off a backlog of unsold Prius hybrids by offering the first incentives on the fuel-saving hatchback.
Seven of Toyota's 12 U.S. sales regions were offering a low lease payment, cut-rate finance deals or cash to the dealer for each unit sold. In California, Toyota spokesman Bill Kwong said the incentives were to help ensure that Toyota meets its sales target for the Prius.
The company wants to sell 150,000 units in the United States this year.
Deals included a $249 monthly lease contract in New York state. Prius customers in Michigan, Ohio and Kentucky could finance a Prius through Toyota for as little as 3.9 percent for 36 months.
Kwong said Prius sales have remained steady, despite large fluctuations in gasoline prices. Toyota sold 106,971 Prius models in 2006, down from 107,897 sold in 2005, according to the Automotive News Data Center.
The incentives were scheduled to end Wednesday, Jan 31.