In what could be Toyota’s first real attempt at damage control since recalling close to 9 million vehicles worldwide over the last few months, the Japanese automaker is said to be considering a new incentive program to smooth relations with current Toyota owners.
According to CNN, Toyota is considering a number of incentives to try and smooth things over with current Toyota owners. Although Toyota has yet to confirm the option officially on the table, it is believed the car maker is considering cash incentives for new vehicle purchases as well as warranty extensions.
“ Toyota is reviewing all incentive options in consideration of current competitive market conditions and support of our dealers nationally,” Toyota spokeswoman Celeste Migliore told CNN. The program is expected to kick off in March.
In addition to feeling heat from consumers and even the federal government, Toyota is being bombarded by several other automakers. Companies like General Motors, Ford and Hyundai have all launched incentive programs to lure buyers away from Toyota during its largest ever recall.
It remains to be seen if such a program would spur repeat business from current Toyota owners, but it couldn’t hurt – Toyota’s sales slipped 16 percent last month following two massive recalls.
