Toyota Motor Corporation widened its leasing option to its customers as the individual regions get their their dealers trained by the end of April.
Tom DeLuise, Toyota Motor Sales U.S.A. manager, confirmed that Toyota together with Scion off-lease vehicles take their services in the new level. On the other hand, Bill Fay, the division general manager of Toyota, said that they have got a record number of off-lease returns this year around 27, 500.
Last January, Toyota has introduced its leasing program around Northeast markets and the company is set to come back with more than what the market expects. Currently, leasing in Boston has increased by 3 percent and the dealers expect it to jump for 7 to 8 percent before the end of the month. The company declared that they are contented with 4 to 6 percent climb in the overall sales.
Through the leasing program, their dealers get the chance to deliver a pre-owned unit to their customers. Specifically, only the 3 model-years old units with a maximum of 65,000 miles odometers qualify for leasing in 24 to 36 months. The said vehicles covers 1 percent of the overall sales of the Toyota Division since January and supported by the firm’s Financial Services.
The Japan based automotive company revealed that they were having a business discussion with their dealers and they were positive that they recognize the advantage of their program. Further to this, the firm hopes to make its leasing program competitive in the market and to accumulate expected revenue as its certified used vehicle sales meet Toyota’s goals.
Toyota estimated that in this year, the 2.6 million off-lease vehicles which returned to the market in 2015 will surge into 3.1 million and hopefully for 3.6 million the following year.
Toyota Division is celebrating its 20th anniversary and plans to sell its 5 millionth certified used unit in 2016. For the record, the division was able to shift around 32,721 certified used Toyota brand vehicle last month significantly lower than the 61,948 vehicles it had sold in the first two months of 2015.
Last Friday, the shares of Toyota Motor Corporation slumped by 2.27 percent or 137.00 when it traded at 5,888.00 JPY in the market after opening at 6,013.00 JPY during the session. The stock had a session high of 6,013 and a session low of 5,858 with a current market capitalization of 19.65 trillion yen. It has a price earnings ratio of 7.97 and a dividend yield of 3.82 percent.
The Japan based automotive industry has an earnings per share of 739.18 and an outstanding shares of 1,537,110,300. It has a 50-day moving average of $108.55 and a 200-day moving average of $117.9 and has outperformed S&P 500 in the past 52-weeks, but it has underperformed the index in one month basis. Also, the shares of the firm have declined by 26.64 percent in the 52-week period.
In other news, the Aichee Steel Corp, which is connected with Toyota Motor Corp has been in operation again after the suspension due to the January explosion. After the tragic scenario, Toyota paused its production, which affected 100,000 vehicles as the supply for steels and transmissions were cut short.
Meanwhile, Toyota was named as the number one Mainstream Brand and Premium Brand at the first annual Pre-Owned Value Awards (POVA). The award giving body recognizes the vehicles with an excellent consumer value.
Based on the statement released by Jim Nguyen, TrueCar EVP and general manager of ALG, the award identifies used vehicles which have the highest percentage of their value over the next three years. ALG, which powered the award, is well known on automotive residual value projections around North America.
Toyota Prius c won in Alt fuel, Toyota Corolla topped the Compact unit, Toyota Sequioa was on Full-size utility and Toyota Camry was the number one Midsize car. In addition to, Toyota Tacoma was the first spot in the Midsize pickup and Toyota FJ Cruiser on the Off-Road Utility.
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