In the wake of Toyota's massive recall, Ford, Chrysler and Hyundai all decided to siphon off some of the automaker's disgruntle customers.
Like GM, the automotive companies have rolled out incentives, too, targeting Toyota's customers. The automakers are following the lead of General Motors Co, which last week began offering Toyota customers payouts of up to $1,000 or zero-percent financing for up to five years if they trade in a Toyota for a GM vehicle. Unlike GM, Ford is offering a $1,000 in trade assistance.
Now Chrysler is going after Toyota's customers, too, offering current Tundra, Tacoma and Sienna owners an additional $1,000 trade-in bonus cash with the purchase or lease of any new Chrysler, Jeep, Dodge car or Ram truck. Through March 1, 2010, the incentives will be available.
And for the last four days of January, Hyundai jumped in the game, too -- offering a $1,000 incentive to any customer who trades in a Toyota vehicle and purchases a new Sonata, Elantra, or Elantra Touring model. It should be interesting to see how many of Toyota's customers make the switch.
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