Toyota’s (TM) new top executive for North America, Satoshi Ozawa, plans to help Toyota retain brand value.
“We will not simply go after volume,” Ozawa told Automotive News. “We are going to restrain discounts and incentives.”
The plan to reduce incentives and discounts comes after Toyota increased incentives on its Camry last week.
Over the last year Toyota has bumped incentives on the Camry by 38%, which totals up to $2,750 in incentives. This puts the Camry’s incentives above its competitors best sellers, Nissan’s (NSANY) Altima ($2,400), Ford’s (F) Fusion ($2,300) and Honda’s (HMC) Accord ($1,400), reports Autoblog.
Ozawa also plans to increase local purchasing and production in an effort to retain brand value. He plans to maintain production of 3 million vehicles in Japan, and increase sales up to 1.5 million vehicles from last years 1.45 million, reports Automotive news.