Automotive Industry Developments: Export Plans, New Models, and Incentives

Strategic Insights -

The automotive industry is abuzz with news of export plans, new model releases, and updated pricing and incentives. Toyota Motor Corp. has announced plans to export 20,000 Prius hybrid-powered sedans a year to North America and Europe beginning in the fall of 2000. Meanwhile, BMW AG is considering building luxury sedans and coupes to compete with Rolls-Royce and Bentley, and sports cars to rival Ferrari. The industry is also witnessing changes in pricing and incentives, with several automakers adjusting their strategies to attract more customers.

Key Takeaways:

  • Toyota Motor Corp. will export 20,000 Prius hybrid-powered sedans a year to North America and Europe starting in the fall of 2000.
  • BMW AG is considering building luxury sedans and coupes to compete with Rolls-Royce and Bentley, and sports cars to rival Ferrari.
  • Saturn Corp. will hold its Homecoming '99 event on July 30 of next year at its plant in Spring Hill, Tennessee, which is expected to be bigger than its 1994 event that attracted 40,000 visitors.
  • Chevrolet's Kick magazine, a quarterly soccer magazine, has been mailed to 1 million U.S. households associated with the U.S. Youth Soccer Association.
  • Ford Motor Co. plans to move much of its climatic road testing inside a new $100 million wind tunnel, making it difficult for spy photographers to capture images of future products.
  • Mazda North American Operations has a new customer incentive program that pays rebates of $500 to $3,500 on 1998 models and $2,000 to $6,500 on 1997s.
  • Chevrolet and Oldsmobile have extended their consumer incentive programs, with Chevrolet reinstating the Sept. 30 cutoff date for its consumer incentives program.

Statistics:

  • Toyota has sold over 7,700 Prius hybrid-powered sedans in Japan since its release in December.
  • Saturn has 1.7 million owners in 1999, up from fewer than 700,000 in 1994.
  • Ford Motor Co. plans to spend $100 million on a new wind tunnel for climatic road testing.
  • Chevrolet's Kick magazine has been mailed to 1 million U.S. households associated with the U.S. Youth Soccer Association.

Sources:

  • [Source 1] Toyota Motor Corp.'s announcement of export plans for the Prius hybrid-powered sedan.
  • [Source 2] BMW AG's consideration of building luxury sedans and coupes to compete with Rolls-Royce and Bentley, and sports cars to rival Ferrari. Automotive News reported this in an article.
  • [Source 3] Saturn Corp.'s Homecoming '99 event, scheduled for July 30 of next year at its plant in Spring Hill, Tennessee.
  • [Source 4] Chevrolet's Kick magazine, a quarterly soccer magazine mailed to 1 million U.S. households associated with the U.S. Youth Soccer Association.
  • [Source 5] Ford Motor Co.'s plans to move much of its climatic road testing inside a new $100 million wind tunnel.
  • [Source 6] Mazda North American Operations' new customer incentive program.
  • [Source 7] Chevrolet and Oldsmobile's extended consumer incentive programs.