Toyota Motor Corp. is launching a $250 million marketing and sales campaign that uses its substantial financial muscle to bring customers back into its showrooms.
The campaign is aimed at boosting the auto maker's market share at the expense of its struggling Detroit-based rivals. Toyota is trumpeting zero-percent financing on 11 vehicles, including its best-selling midsize Camry and compact Corolla. The ads, which began this week, emphasize the availability of loans for most customers.
Bob Carter, group vice president at Toyota Motor Sales USA, said the auto maker wants to dispel misconceptions that financing isn't available at Toyota. "There is a perception that because of upheavals in the financial markets that financing isn't available. There is a perception that leasing isn't available. Neither is true for Toyota," Mr. Carter said.
Toyota "is a company that's flush with cash and is really thinking about how to use that cash right now," said Michael Maroone, chief operating officer of AutoNation Inc., the country's largest chain of auto dealerships. "They are going to support the market in unprecedented ways."