
Rapid changes in the value of the Canadian dollar mean that consumers are experiencing market conditions that are almost unprecedented in Canadian history. This uncertainty also impacts Canadian manufacturers and retailers - and those in the auto industry are no exception.
Toyota Canada Inc. is addressing this issue in a responsible manner - one we believe will continue to provide real value to our new and current customers and the Canadians we employ both directly and indirectly.
As we make adjustments to meet current market conditions, we continue to return to a basic tenet: Value. Each vehicle made for sale in Canada is specifically equipped for the Canadian marketplace. We carefully select certain options and features, on a model-by-model basis, that we believe are best suited for Canada's challenging climate and driving conditions and the tastes of our customers. These may differ from equipment and options selected for vehicles distributed and sold in the U.S. market. Customers might believe that the only real difference between Canadian and U.S. vehicles relates to vehicle gauges (which are in kilometres on vehicles made for Canada and in miles on those destined for the United States). Depending on the model, however, Made-for-Canada Toyota vehicles may include any of the following features:
Toyota Canada Inc. is also committed to providing flexible, open and valuable incentives to Canadian drivers. What's more, we have structured our current programs and incentives on a wide variety of vehicles to provide as much value as possible to everyone who purchases, leases or finances any qualifying vehicle through their local Toyota Dealer - not just those few who can buy a vehicle outright.
Pricing on certain 2008 Toyota vehicle models has been carefully repositioned by a combination of reductions in the Manufacturer's Suggested Retail Price (MSRP) and/or the addition of upgraded value in the form of new standard features and specifications:
In addition to price repositioning, Toyota Canada is offering our customers many additional incentives on Made-for-Canada vehicles. These include gas gift cards or cash equivalent discounts on many popular Toyota vehicles, such as the Camry, RAV4, Sienna, Avalon, Tundra and Highlander. The value of these incentives varies by model, but may be up to $4,000 on select 2007 Toyota vehicles and up to $5,000 on select 2008 Toyota vehicles. Please visit our promotions page for a current list of incentives available in Canada or see your local Toyota dealer for details.
All Made-for-Canada Toyota vehicles are also automatically covered by our Toyota Roadside Assistance program, which provides help 24 hours a day, 365 days per year, for three years.
Beyond this, Made-for-Canada vehicles are eligible for available new vehicle promotions, programs, and incentives offered by Toyota Financial Services in Canada. Toyota Financial Services has committed to offering very aggressive leasing and financing rate reductions on popular Toyota vehicles - not only current 2008 models, but also many from the 2007 model year. Toyota Financial Services has also waived the security deposits on all 2007 and 2008 models leased in December.
In addition, only Made-for-Canada Toyota vehicles may qualify for other financial incentives or programs offered by Toyota Canada, including:
Best of all, these incentives - the price repositioning, vehicle-specific programs, and attractive finance and lease rates - are designed to provide our cash, lease and finance customers with as much value as possible. We feel it's unfair to ask Canadians to choose between incentives and low rates, so many of our vehicles are available with both. In this way, Canadians realize genuine value when purchasing, leasing or financing a new Made-for-Canada Toyota vehicle.
But there's more: New Made-for-Canada Toyota vehicles may be eligible for certain incentives provided by the Canadian Federal and/or certain provincial governments. These include:
Vehicles purchased in the U.S. will not qualify for the Federal ecoAUTO rebate, although some provincial rebates still apply. However, once imported into this country, a vehicle may still be subject to the following:
Made-for-Canada Toyota vehicles may enjoy certain warranty and servicing benefits not necessarily available for vehicles intended for other markets. These include:
Toyota has been a part of Canadians' lives for more than four decades and in that time we've experienced many economic swings. Through all of this, we have steadily grown in Canada and have expanded our dealer network significantly. Toyota Canada Inc. now supports more than 230 independently owned Toyota Dealers who serve our customers from coast to coast.
Buying or leasing a Made-for-Canada Toyota establishes a trusted relationship that will last throughout the ownership cycle:
Toyota in Canada has also expanded in this country beyond sales and service by building Canadian-based operations responsible for vehicle parts and distribution, employee and Toyota Dealer staff training, warranty and customer service, wholesale and retail vehicle financing and vehicle and part manufacturing.
As we have grown in Canada, Toyota Canada has consistently monitored the health of the economy and has adjusted its products and services accordingly to help ensure Canadians receive genuine value for their dollar - regardless of its strength in currency markets.
The Canadian dollar's recent strength has set new modern day records, reaching and surpassing parity with the U.S. dollar. As we move forward in these uncertain economic times, Toyota Canada will stay attuned to market conditions and respond as quickly as possible, and in a responsible manner, to continue to deliver value to Canadians.
2010 Prius Plug-in Hybrid Debuts at Frankfurt Motor Show
Toyota takes another step forward in hybrid technology with the introduction of the 2010 Prius Plug-in Hybrid (PHV) Concept vehicle, unveiled at the 2009 Frankfurt Motor Show.
Based on the third-generation Prius, the PHV Concept expands Toyota's Hybrid Synergy Drive technology. Making use of first generation lithium-ion battery technology, the PHV allows electric operation at higher speeds and longer distances than conventional hybrids. When fully charged (and that takes about 90 minutes through a standard electrical outlet), the vehicle can reach an electric-only range of approximately 20 km and achieve highway speeds in electric-only mode. For longer distances, the PHV concept reverts to "hybrid mode" and operates like a regular Prius.
"This is an important next step in the world's evolution of hybrid technology," said Stephen Beatty, Managing Director, Toyota Canada Inc.
Beginning in late 2009, Toyota will ship out a test fleet of 500 Prius PHV vehicles across the world. This program will let Toyota better understand customer expectations for plug-in technology. As well, the program will serve to evaluate the first generation lithium-ion battery's durability, reliability and performance.
"Our goal is not to be first in the market with this technology; it is to ensure that it is the best technology for our customers," said Beatty. "This demonstration program will allow real world experience to create a vehicle that will be accepted and embraced by real drivers."