There's an interesting article over at AutoObserver
regarding Tundra buyers. Toyota has found that 36% of their Tundra customers are upside down (owe more than the vehicle is worth) with their current vehicles, and without large incentives, there will be no sale. Other interesting facts:
• About one-half of all Tundra buyers trade in something.
• Some 40 percent of those trade-ins are Toyota products...
• Another 40 percent of trade-ins are “conquests” from domestic manufacturers – and half of those conquest trade-ins are fullsize pickups.
• About 10 percent of all Tundra sales come from buyers trading a domestic pickup.
Toyota: Full-size Truck Buyers ‘Need’ Incentives
ateixeira says:
07:27 AM, 09/18/07
I wonder how many trade in cars, vs. trucks?
rick8365 says:
10:45 AM, 09/18/07
Interesting article - but I don't get how they think the sub-prime issue and housing market slow down hasn't had an effect on truck sales / values. I would think both would have a direct impact on demand for new and used - thus devaluing both.
estreka says:
02:53 PM, 09/18/07
Despite all the market publicity, we are still in a recession. I don't care how bullish economists are about the nation's welfare. The dollar was worth so much more about 7 years ago.
Isn't think true for almost any vehicle? As soon as you drive a new car off the lot, it typically loses 15% of it's value. I would say the 36% statistic is conservative.