FI showroom red and grey logo
MenuMENU
SearchSEARCH

Toyota Recall Incentives Make Small Dent in January

Edmunds.com estimated today that the average automotive manufacturer incentive in the U.S. was $2,382 per vehicle sold in January 2010, down $160, or 6.3 percent, from December 2009, and down $326, or 12.0 percent, from January 2009.

by Staff
February 3, 2010
3 min to read


SANTA MONICA, Calif. — Edmunds.com estimated today that the average automotive manufacturer incentive in the U.S. was $2,382 per vehicle sold in January 2010, down $160, or 6.3 percent, from December 2009, and down $326, or 12.0 percent, from January 2009.

"January incentives were not particularly generous or compelling — until some automakers began trying to conquest unsettled Toyota owners and shoppers late in the month," stated Jessica Caldwell, director of industry analysis for Edmunds.com. "January sales numbers are up from last year only because of fleet sales.”

Ad Loading...

According to Edmunds.com, combined incentives spending for domestic manufacturers averaged $3,108 per vehicle sold in January 2010, down from $3,399 in December 2009. From December 2009 to January 2010, European automakers decreased incentives spending by $363 to $2,611 per vehicle sold; Japanese automakers decreased incentives spending by $1 to $1,563 per vehicle sold; and Korean automakers increased incentives spending by $69 to $2,096 per vehicle sold.

True Cost of Incentives for the Top Seven Automakers

Automaker

January 2010

December 2009

January 2009

Chrysler

$3,061

$2,567

$4,291

Ford

$3,095

$3,040

$3,505

General Motors

$3,103

$4,001

$3,138

Honda

$1,203

$1,253

$1,374

Hyundai

$2,096

$2,027

$3,071

Nissan

$2,455

$2,157

$2,153

Toyota

$1,550

$1,665

$1,994

Industry Average

$2,382

$2,542

$2,708

 

In January 2010, the industry's aggregate incentive spending is estimated to have totaled approximately $1.67 billion, down 35.9 percent from December 2009. Chrysler, Ford and General Motors spent an aggregate of $1.0 billion, or 60.2 percent of the total; Japanese manufacturers spent $424 million, or 25.1 percent; European manufacturers spent $149 million, or 8.9 percent; and Korean manufacturers spent $96 million, or 5.8 percent.

"February could prove interesting. We’ll see the usual President’s Day sales and, in addition, we could see some deals from Toyota as it tries to lure weary shoppers back to its showrooms after its recalls and sales stoppage. And Toyota competitors won’t stand still for that. As they demonstrated in January, they’ll do what they can to capitalize on Toyota’s weakened state," reported Edmunds.com Senior Analyst Michelle Krebs in her report on AutoObserver.com.

Among vehicle segments, large trucks had the highest average incentives, $3,743 per vehicle sold, followed by large SUV at $3,724. Subcompact cars had the lowest average incentives per vehicle sold, $1,116, followed by sport cars at $1,250. Analysis of incentives expenditures as a percentage of average sticker price for each segment shows large trucks averaged the highest, 11.0 percent, followed by large cars at 9.6 percent of sticker price. Premium sport cars averaged the lowest with 3.2 percent and premium luxury cars followed with 3.7 percent of sticker price.

Comparing all brands, in January MINI spent the least, $226 followed by Scion at $320 per vehicle sold. At the other end of the spectrum, HUMMER spent the most, $5,733, followed by Lincoln at $5,484 per vehicle sold. Relative to their vehicle prices, Saturn and HUMMER spent the most, 18.4 percent and 15.2 percent of sticker price, respectively; while MINI spent 1.0 and Scion spent 1.9 percent.

 

More F&I

Industryby StaffMarch 6, 2026

Explore the 12 Rules for an F&I Life at EFI

EFI 2026 will take place April 13–15 at The Cosmopolitan Las Vegas.

Read More →
F&IMarch 4, 2026

Creating Your Own Economy

In this video, Reese Dailey explains how effective follow-up drives better results across the dealership, including increased sales, higher F&I penetration, and stronger customer retention.

Read More →
Industryby StaffMarch 2, 2026

Prove You Can Do F&I at EFI

‘So You Think You Can Do F&I’ is a live role-play contest taking place at the 2026 Ethical F&I Managers Conference.

Read More →
Ad Loading...
Industryby Lauren LawrenceFebruary 25, 2026

Report Finds Year-End F&I Strength

Deal volume ebbed and flowed throughout 2025, but product performance remained steady, according to automotive technology and data intelligence solutions provider StoneEagle.

Read More →
Industryby Hannah MitchellFebruary 23, 2026

Some Auto Brands Cheaper to Insure

A new top 10 list ranks the least expensive for average full insurance coverage on a clean driving record and high driver credit scores.

Read More →
F&IFebruary 13, 2026

Business Office Blueprint

Try following these 20 steps to greater success in the dealer F&I office this year.

Read More →
Ad Loading...
Industryby Lauren LawrenceFebruary 11, 2026

Insurance Shopping on the Rise

A TransUnion study found that relationship-driven sales models proved to be important, as consumers who used an agent had a lower shopping intensity than those going it alone.

Read More →
Industryby Hannah MitchellFebruary 4, 2026

Auto Insurance Cost Reprieve

2025 brought consumers relief after years of rate hikes, but 2026 could bring renewed policy pain, depending on how U.S. trade policy affects prices.

Read More →
Reese Dailey from Automotive Training Academy by Assurant
F&IFebruary 4, 2026

Cash Deal Strategies

In this video, Reese Dailey of the Automotive Training Academy by Assurant reveals strategies to make cash deals profitable without relying on monthly payment bumps.

Read More →
Ad Loading...
Cox Automotive and Dealertrack logos displayed over a dealership showroom background.
F&Iby StaffFebruary 3, 2026

Cox Auto Says Dealertrack Offers Greater Finance Efficiency

Suite of new APIs, product enhancements and integrations is designed to help maximize contracting and funding efficiency for lenders and their dealer partners.

Read More →