AFSCME 3357-HOF'S BLOG

From the "Here Comes the Boom" File:
Toyota Debuts 0% Financing.



Ever since soft spring auto sales slipped down into the summer doldrums, Toyota has been willing to drift with the auto industry as a whole, with sales dipping, but market share increasing or remaining stable. In September though, Toyota actually lost market share as increasing incentives lured customers to other makes.

Look out - Toyota finally decided to get serious about incentives and is offering 0% financing on most of its vehicles. (Yaris and Prius aren't included.) This could really hurt the Detroit 3. Prior to the Toyota announcement, the members of the Detroit 3 were all looking at base sales levels a third below last year. The financial arms of the Big 3 are facing a shortage of capital, and any money they can borrow is at a double digit interest rate.

This leads me to the Wikipedia Entry of the Day

Coup de grâce