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“We’re noticing that Toyota’s incentive program is starting to fall on deaf ears since most of the people who were open to getting deals from the automaker already made their purchases,” says Edmunds.com Senior Analyst Jessica Caldwell. “Our Toyota cross-shopping data indicates that the brand has not yet recovered from recent image problems.”
Last spring, about 37% of Edmunds.com visitors who researched one of Toyota’s main competitors also checked out the Toyota brand. That “reverse cross-shopping” rate is currently averaging only about 30%.