2011 Lexus RX450hDavid Dewhurst
After months of being starved for an adequate supply of product, Regency Auto Group general manager John Rundle has been out and about touting newly arrived truckloads of models from Toyota and its Lexus luxury brand. Naturally enough, to get the spotlight back on Toyota and Lexus, Toyota Canada and its dealers are throwing money at the marketplace.
And it's necessary. As Dennis DesRosiers of DesRosiers Automotive Consultants points out in a note to clients, "Honda and Toyota, still racked with supply problems, had under-performing months down in the double digit range" in July, following slow months in June, May and April. The devastating March 11 earthquake and tsunami in Japan has hurt and Toyota also has suffered from well documented issues on other fronts.
Into that potent mix the savvy shopper should also take note that a new 2012 Camry will go on sale later this year. Camry sales in Canada were down 38.8 per cent through the first half of this year, so it is reasonable to expect Toyota Canada to set about stirring up some Camry buzz – and clear out whatever remaining Camry models are laying about on dealer lots.
As I blogged earlier this week, both the Toyota and Lexus brands will be bolstered by the arrival of new versions of top sellers in the coming months. By the 2013 model year, Toyota will sell reinvented versions of not just the Camry, but also the Yaris subcompact and the RAV4 crossover utility vehicle. At Lexus, the GS, ES, IS and LS sedans are all expected to be either redesigned or re-engineered or both by the spring of 2013.
On the 2011 Camry, Toyota Canada is offering up to $2,500 in cash discounts that can be combined with 0.0 per cent financing for up to five years. A good deal and one we've previously highlighted in Deals of the Week.
The Camry offer is nice and expected. Less so is the offer on the 2011 Toyota Yaris grocery getter: $1,250 in cash or a $750 rebate that can be combined with 0.0 per cent financing for six years. Six years of free money!
As for Lexus, last month Deals of the Week highlighted a $3,000 offer on the RX350 crossover SUV, which has since been enriched to $4,000.
Now let's add a $2,000 deal on the RX450h hybrid. This is an exceptionally refined hybrid wagon and it's unusual for Lexus to discount what is arguably the brand's technologically advanced flagship model.
Over at Mitsubishi, the Outlander crossover is being pushed with a variety of $500 rebates. Some buyers may be able to combine them all and stack on top of all that an offer of 3.0 per cent financing.
Finally, the Lincoln MKZ Hybrid. This is a really fine premium hybrid. It's quiet, comfortable, the quality appears to be very good and this sedan is flat out loaded with technology. Best of all, it's a deal. Lincoln has the Employee Discount in play ($3,056), along with a couple of other promotions that could be worth more than $5,000.
As usual, Deals of the Week obtained pricing information from www.carcostcanada.com. Here are the numbers.
2011 Toyota Yaris LE four-door hatchback
MSRP: $15,360
Freight, dealer prep, air conditioning tax: $1,450
Dealer discount (estimated): $400
Taxable subtotal: $16,410
Total price with 13% HST: $18,543.30
Factory discount: $750 (Consumer Cash factory-to-customer rebate)
Final price: $17,793.30
Note: 0.0% financing for six years
2011 Lincoln MKZ Hybrid
MSRP: $42,200
Freight, air conditioning tax and dealer prep: $1,650
Employee Pricing discount: $3,056
Factory discount: $1,376 (No charge power moonroof or voice-activated DVD navigation system)
Factory discount: $4,000 (Delivery Allowance factory-to-dealer rebate)
Taxable subtotal: $35,418
Total price with 13% HST: $40,022.34
2011 Lexus RX450h
MSRP: $59,550
Freight, dealer prep and air conditioning tax: $2,050
Dealer discount (estimated): $1,800
Factory discount: $2,000 (Non-stackable trading dollars factory-to-dealer rebate)
Taxable subtotal: $57,800
Total price with 13% HST: $65,314
2011 Mitsubishi Outlander ES 4WD
MSRP: $27,990
Freight, dealer prep and air conditioning tax and Green Levy: $1,550
Dealer discount (estimated): $1,000
Factory discount: $500 (Dealer Diamond Trading factory-to-dealer rebate)
Taxable subtotal: $28,040
Total price with 13% HST: $31,685.20
Factory discount: $500 (Education Edge Grad Rebate factory-to-customer rebate)
Factory discount: $500 (Loyalty Rebate factory-to-customer)
Factory discount: $500 (Variable Rate Cash Program factory-to-dealer rebate)
Final price: $30,185.20
Note: 3% financing for up to 84 months
Pricing information source: www.carcostcanada.com. Calculations based on Ontario customers. Please note that while the information above is accurate at the time of publication, incentives are given at the discretion of individual dealers, and may be changed or discontinued at any time. Dealer discounts are negotiated with the customer on a case-by-case basis.