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Friday, September 18, 2009

Toyota US to Spend $1 Billion on Marketing in the Fourth Quarter

Toyota will go all the way to spend $1 billion to strengthen its US sales in the fourth quarter of the year. Toyota’s US sales has deteriorated in the US market over the previous quarters of the year and that is why, the Japanese car market has decided to promote its Prius hybrid cars in the market in the last quarter. The amount is 30% to 40% more than Toyota’s usual marketing budget for the fourth quarter of the year.

Toyota has also decided to increase the profit margin of the dealers in the US market. The company is now desperate to improve its condition in the US as it saw 29 per cent decline in August sales. Popularity of hybrid car has been increased significantly in the country and that is why, Toyota is also keeping an eye on its hybrid sales in the coming months.

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Reuters

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