2 in 3 Toyota IQ conquest
August 25th, 2009 by Richard Aucock
TOYOTA reveals two-thirds of IQ buyers are conquests from other brands… 31 percent of which are premium.
The startling statistics have been revealed as Toyota HQ crunches the first run of sales data for the Smart-rivaling city car.
Indeed, the conquest rate is the highest of any Toyota on sale: beating even the new Prius at 65 percent, along with the Aygo and Yaris at around 50 percent.
Most of them are coming from bigger cars, too, a spokesman revealed to Car Dealer Magazine. ‘Only 13 percent of them are coming from other A-segment cars.’
This conquest rate, reckons Toyota, support the validity of the car; ‘You are never quite sure until you start selling it,’ admits our man. But high conversions were always expected; ‘like the Prius, it’s a car very different for Toyota.’
Such an influx of new customers is something Toyota dealers are pretty used to. The volume cars are Yaris, Auris and Avensis – ‘but think in the past of broad, diverse cars such as the Corolla, Supra and MR2.
‘It’s not that unusual for dealers to see buyers of a particular model who would hove have had another one on their consideration list.’
Conquest is one thing, though. How will Toyota tackle retention? By using lessons learned from Lexus – offering high standards of customer service. ‘They are obviously happy,’ said the spokesman. ‘Think J.D. Power…’
Sales stats reveal that, year-to-date, it’s outselling its most obvious rival, the Smart. Why is this? Simple fact, said our spokesman. More seats. There were other draws, he reckoned, but the simple extra practicality makes the IQ more useable.
The next move for the IQ3 will be upwards in price, not down. Toyota is confident here, as the firm’s seen a strong uptake on options such as sat nav and leather.
‘IQ was always meant to be a small, but not a cheap car.’
By Richard Aucock
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