Toyota Studies ‘Pre-Owned’ Option

NEW YORK – Toyota has embarked upon a study to determine how to help dealers sell more used cars with programs that will mimic the Lexus Certified Pre -Owned Program now being advertised. The company has been touting the resale value of its new cars as a consumer benefit. Now it hopes to help its retailers sell those used cars a la the Lexus program, which is touted as the ‘first manufacturer certification program for used cars.’ ‘It won’t be exactly the same,’ said Yale Gieszl, executive vp for sales and operations at Toyota Motor Sales USA. ‘But into next year, we’ll study all aspects of how to make our used cars more attractive.’ There were 15.1 million used cars sold in 1992, compared with 12.8 million new vehicles.
Copyright Adweek L.P. (1993)