Right now the domestic brands do not have the reputation that would allow them to go without incentives. Chrysler tried it three years ago. Then two weeks later they got right back on the incentives because without them they couldn't market anything. The brand strength of Honda, the history of reliable, durable products, is great enough to pull in prospects without customer cash.
More Quotes from Tom Libby:
There's already a lot of gaming going on, with carmakers subsidizing their small cars so they can sell them to offset the impact on fuel economy of their large trucks, ... If this new system helps cut down on the number of loopholes, it will be a plus.Tom Libby
Both Toyota and Honda have about the shortest turnaround times between model changes than anyone else in the industry. They replace a model now every five years or so.
Tom Libby
There is definitely a movement downward, ... Everyone has been talking about the decline in big SUVs, but no one has really talked about this similar movement away from large luxury cars.
Tom Libby
I think incentives are very much an integral part of the industry. It's a very sophisticated pricing tool. The Asians are clearly much more into the incentives game this year.
Tom Libby
Brands want to be in this segment because if the brand can sell a compact car to a young customer, the nameplate can then potentially keep that customer for life.
Tom Libby
While the impact of Hurricane Katrina has been significant in much of the South, we do expect vehicle sales in those areas affected by the hurricane to recover, especially as people begin to replace vehicles destroyed by the storm.
Tom Libby
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