Toyota, Honda Offer Financing Incentives on Camry, Accord
Toyota Motor Corp. and Honda Motor Co. are offering low-interest loans on Camry and Accord sedans to increase demand for the best-selling
cars and respond to discounts from U.S.-based rivals, according to a Bloomberg News story by Alison Fitzgerald.
Honda began offering financing as low as 2.9 percent on the Accord on May 1 and a $750 cash
rebate to dealers as the company prepares to replace the five-year-old model with a new generation in September. Toyota responded May 21 with rates as low as 3.9 percent on the newest Camry, which went on sale last year.
The discounts are the first on the current Accord since it began as a 1998 model, Honda spokesman John Watts said. Accord sales fell 17 percent in the first four months this year from the same time a year earlier. Camry sales
rose 18 percent through April compared with a sluggish 2001, when Toyota changed models.
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