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US Dollar weakness finally offers Canadian car purchasers a break

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Old 02-01-2008, 10:44 AM
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US Dollar weakness finally offers Canadian car purchasers a break

Toyota Canada lowers MSRP on 16 Toyota and Lexus vehicles.
Wayne Gerdes - CleanMPG - Feb. 1, 2008

2008 Canadian Toyota Yaris 5-door hatch - With a $1,000 ecoAUTO rebate and a new lower MSRP, this fuel miser is more attractive than ever!

TORONTO – Toyota of Canada has turned a new leaf with an announcement that the average Canadian new car purchaser will see lower automobile sticker prices. Although the company line is said to deliver a better value to Canadian drivers, this announcement comes on the heels of an ultra strong Canadian Dollar which reached parity to the $USD for the first time in history late last summer.

Toyota Canada reduced the MSRP on more than a dozen vehicles in their lineup to benefit not just the average new car compact buyer but also those who may be considering a model from the Lexus lineup, Toyota’s upscale luxury brand. Toyota’s move lowers the MSRP across the majority of the company’s fleet of 2008 models starting with the Toyota Yaris with its $750 MSRP reduction all the way to the slow selling Lexus GX with an astounding $8,100 drop in MSRP*.

“We have always monitored the Canadian market and taken action accordingly,” noted Stephen Beatty, Managing Director of Toyota Canada Inc. “Now, we’re pleased to take these further steps. These MSRP reductions are transparent and consistent, making it easier for customers to make informed purchasing decisions. They also benefit customers, whether they are leasing, financing or purchasing their vehicle with cash.”

When the Canadian dollars value surged in the late summer of 2007, Toyota was one of the first automakers to take meaningful action for the benefit of the Canadian new car purchaser. The company reacted to the currency driven market distortion by offering a mix of price adjustments, gas gift cards, cash rebates, maintenance offers and attractive lease and financing rates.

Toyota Canada is now converting these incentives into clear, consistent price reductions across the board for their customers.

Canadian 2008 Toyota and Lexus new car price reductions

MakeModelOld MSRPNew MSRP$ Reduction
ToyotaYaris Hatch13,915$13,165$750
"Yaris 4-Door$14,695$13,945$750
"FJ Cruiser$30,725$29,725$1,000
"Highlander Hybrid$42,825$41,075$1,750
"IS (manual)$36,550$31,900$4,650
"09 RX**$4,350$7,200
* All prices quoted in Canadian Dollars.
** The 2009 Lexus RX 350’s lower introductory price of $44,350 reflects a reduction of $7,200 when compared to the 2008 base model.
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