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The latest information about Mountain States Toyota, Toyota Motor Sales and the automotive industry.

Toyota Introduces a Rewards Visa Card

What if going to the grocery store or dinner with friends helped you earn points to redeem toward maintenance, parts and accessories for your Toyota? The time for wondering is over because the new Toyota Rewards Visa® is here!

With the Toyota Rewards Visa, you'll get:

  • 2,500 Bonus Toyota Rewards Points upon first purchase.1
  • 5 Points for every $1 spent at participating Toyota dealerships.
  • 1 Point for every $1 spent everywhere else that Visa is accepted.
  • No Limit to points earned and No Annual Fee.

The more you use it for everyday purchases, the more the points add up. Your Toyota rewards points can even be redeemed toward your next eligible Toyota purchase or lease at participating Toyota dealerships.

Whether you're shopping, vacationing or just getting your morning coffee, every swipe gets you closer to Toyota rewards.

To start earning your Toyota rewards points, please click here for more information or call 866-614-8845 ext. 86054

1First-use bonus points will be awarded when you are approved, activate, and make a purchase with your Toyota Rewards Visa. Your account must be open and in good standing to receive the bonus points. Bonus offer is only available to new Toyota Rewards Visa accounts. Bonus points will appear on your first statement after the qualifying purchase is made. Redemption only available at participating dealerships in the continental United States and Alaska. Points cannot be redeemed for cash.

On approved credit. Terms, conditions, and restrictions apply and are fully described in the Toyota Rewards Visa Cardmember Agreement and the Toyota Rewards Program Terms and Conditions, as amended from time to time. You must have a valid permanent home address within the 50 United States or the District of Columbia. The creditor and issuer of the Toyota Rewards Visa is Toyota Financial Savings Bank.

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Free financing on 11 models is an unprecedented move for the automaker - Toyota is Lending

Updated 2:56 p.m. PT, Fri., Oct. 3, 2008

NEW YORK - Toyota Motor Corp.'s unprecedented offer of zero-percent financing on nearly a dozen models is trying to make the point that tight credit is no excuse for buyers — in fact, it's literally giving credit away for free.

But after the top Japanese automaker posted a 32 percent drop in September sales that only domestic competitors had experienced until now, the question is: Is it enough to get people to buy?

"I don't think it's going to just open the floodgates," said Jessica Caldwell, an analyst at the auto Web site Edmunds.com. "But it's going to help a lot of people who want a quality car, who don't want to worry about it, and are now going to be able to afford it because of this deal."

Toyota's U.S. division said Thursday night it will offer the free financing on 11 models with terms ranging from 36 to 60 months. The incentive expires Nov. 3.

Toyota is offering the deal on a wide variety of vehicles, including the Matrix, Corolla, Camry, RAV 4, Highlander, FJ Cruiser, 4Runner, Sequoia, Sienna, Tacoma and Tundra. The automaker's hybrids, along with some better-selling models like the Yaris subcompact, are excluded.

Although Toyota has cut financing rates and offered other deals in the past, zero-percent financing on such a wide scale is an unprecedented move for an automaker that has prided itself on its restraint with incentives. Its U.S. counterparts, meanwhile, have aggressively used cut-rate financing and big cash-back offers as a way to bolster sales in the flagging auto market.

Sales down 27 percent industrywide 
Nearly all automakers said tighter credit standards knocked buyers from the market last month, when sales industrywide fell 27 percent from a year earlier, hitting less than 1 million for the first time in 15 years.

"What this is a response to is the misconception that getting a loan or leasing a car is difficult to do," Toyota spokesman Xavier Dominicis said Friday. "At Toyota it's not. Our finance arm ... it's in a position to loan money."

Richard Howse, senior director of auto finance for J.D. Power and Associates, said Toyota's offer is likely an attempt to kick-start its sales considering September's disappointing results.

"I don't want to read their minds, but I think they realize they need to move the cars they have now," Howse said. "It'll be interesting to see how many people are able to take it given today's credit environment"

Kerry Rivera, spokeswoman for Toyota's finance arm, Toyota Financial Services, said the requirements to qualify for the offer include a FICO credit score of at least 650. The median FICO score is 720 on the scale that ranges from 300 to 850, according to a spokesman for Fair Isaac Corp.

"This is similar to how we've priced zero-percent deals in the past," Rivera said.

Toyota's incentives come at a time when banks are curtailing lending because of widespread mortgage defaults that have brought down investment banks and a major insurance company.

Automakers' finance arms often raise capital by bundling auto loans and selling them as securities, and more of those loans have defaulted as the economy has deteriorated. Now that any collateralized debts like mortgages have fallen out of favor, the securities are more difficult to sell, making it harder for the finance companies to raise more money to lend.

Toyota's ‘deep pockets’
However, Toyota is likely in a better position than its domestic competitors to offer zero-percent loans to a greater number of consumers, owing to its AAA credit ratings and strong cash flow, Edmunds.com's Caldwell said.

"They have such deep pockets they're able to weather the storm a little bit better. ... I think Toyota will be able to offer more customers zero-percent APR financing than Chrysler or GM, where they have to be more picky with the customers that can receive," she said.

Rivera said Toyota hasn't been lending to subprime customers, which has insulated it from some of the credit troubles that other companies have experienced. She declined to release Toyota's loan approval rates but said the automaker's year-over-year rate "hasn't dropped significantly."

David Cole, chairman of the Center for Automotive Research in Ann Arbor, Mich., said Toyota may be among the best-positioned automakers to weather the credit storm.

"Toyota has absolutely gold-plated credit," Cole said. "They've got $30 billion-plus in the bank. So whatever happens from a financial standpoint, they're not going to be impacted too severely."


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Toyota Motor Sales Earns 11 Awards in 2008 J.D. Power and Associates Vehicle Dependability Study

August 7, 2008 - Torrance, CA - Toyota and Lexus models have earned 11 segment awards out of a possible 19 in the 2008 J.D. Power and Associates Vehicle Dependability StudySM (VDS), more than any other manufacturer for the third consecutive year. The VDS is one of many vehicle surveys which continue to consistently rank Toyota and Lexus at the top of their respective studies.

The VDS study tracks the number and type of problems owners have had with their vehicles over a three-year period, with this year's study focusing on the 2005 model year. Lexus was the top nameplate for the 14th consecutive year, with 120 problems per 100 vehicles (PP100). In the study, Lexus received six segment awards and Toyota earned five awards.

"Of the numerous independent studies conducted throughout the year, VDS continues to reflect real-world, long-term vehicle quality and dependability," said Jim Lentz, TMS president. "In today's economic climate, consumers are considering durability more than ever as a key component to their vehicle purchase decision."

For the 14th consecutive year, the Lexus LS premium luxury sedan was the top-performing model in the industry while leading the Large Premium Car segment. With a score of 72 PP100, it was the first time ever that a vehicle achieved a score less than 80 PP100 in the VDS study. The previous low score was in 2006, with the LS 430 earning a score of 88 PP100.

The top three performing models in the VDS were all Lexus passenger cars (LS 430, SC 430 and ES 330). The Lexus LX 470 topped the Large Premium Multi-Activity Vehicle (MAV) segment with a score of 124 PP100; it was the fewest PP100 of any truck or SUV in the study.

Other Lexus models to lead their respective segments include the ES 330 with a score of 101 PP100, which was followed by the GS 300/GS 430 (124 PP100) in the Midsize Premium Car segment. The IS 300 led the Entry Premium Car segment with a score of 122 PP100, while the SC 430 (89 PP100) topped the Premium Sporty segment. The GX 470 (130 PP100) prevailed in the Midsize Premium MAV segment, and the RX 330 was second with a score of 144 PP100. Overall, every Lexus passenger car or luxury utility vehicle either led its segment or finished second to another Lexus.

For the past 19 years (since 1990), the Toyota nameplate has consistently ranked among the top five non-luxury brands. For 2008, the Toyota nameplate placed fourth overall with 159 PP100, an improvement of 19 PP100 from 2007.

Prius, the world's best-selling gas-electric hybrid, led the Compact Car segment with 141 PP100. Prius continues to prove that a gas-electric hybrid vehicle with many cutting-edge technology features can also set a standard for long-term durability.

Other top-performing models include the Tundra, for the third consecutive year, in the Large Pickup segment with 159 PP100; RAV4 in the Compact MAV segment with 166 PP100; Highlander in Midsize MAV with 138 PP100; and Sequoia in the Large MAV segment with 198 PP100.

J.D. Power and Associate's VDS finds the number of problems an owner experiences affects their repurchase intent, vehicle recommendation, and impacts their vehicle's retained value.


2008 J.D.POWER AND ASSOCIATES VVEHICLE DEPENDABILITY STUDY TOYOTA/LEXUS SEGMENT AWARD WINNERS

VEHICLE				SEGMENT

Toyota Prius Compact Car
Toyota Highlander Midsize MAV
Toyota Sequoia Large MAV
Toyota Tundra Large Pickup
Toyota RAV4 Compact MAV
Lexus IS 300/IS 300 SportCross Entry Premium Car
Lexus ES 300 Midsize Premium Car
Lexus GX 470 Midsize Premium MAV
Lexus SC 430 Premium Sporty
Lexus LS 430 Large Premium Car
Lexus LX 470 Large Premium MAV






Lexus Leads Nameplate Rankings for 14 Years in a Row.



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Worldwide Prius Sales Top 1 Million Mark

May 15, 2008 - Tokyo - Toyota Motor Corporation (TMC) announced today that worldwide cumulative sales of the Toyota Prius—the world's first mass-produced gasoline/electric hybrid vehicle - have passed the 1 million mark, with approximately 1,028,000 units sold as of the end of April this year*1. Currently, Prius sales are robust in more than 40 countries and regions, particularly in Japan and North America.

Based on sales figures collected up to April 30, 2008, TMC believes that Prius vehicles worldwide have contributed to a reduction in CO2 emissions (considered a cause of global warming) by producing approximately 4.5 million tons*2 less CO2 when compared with gasoline-powered vehicles in the same class and of similar size and driving performance.

The Prius was launched in Japan in 1997 and began selling in Europe, North America and other markets in 2000. In 2005, Toyota began first overseas production of the Prius in Changchun, China, and sales of Prius vehicles in South Korea are expected to begin in the latter half of 2009.In 2003, the second-generation Prius, equipped with the Toyota Hybrid System II, was introduced with improved environmental performance and power. In August 2007, Prius G, S and S “Standard Package” Japan models achieved a fuel efficiency of 29.6km/l in the Japanese Ministry of Land, Infrastructure and Transport's newly introduced JC08 test cycle. (The Prius S and S "Standard Package" models achieved 35.5km/l in the older 10-15 test cycle.) The Prius is also one of the first vehicles to meet the new 2015 Japanese fuel efficiency standards set out under the Law Concerning the Rational Use of Energy.

As part of its high-priority environment-management policies, Toyota has made a concerted effort to promote and popularize hybrid technology, chiefly through the Prius. And as hybrid technology can be applied to a wide range of vehicles, Toyota aims to sell 1 million or more hybrid vehicles annually as early as possible in the 2010s.

*1. Based on TMC data.
*2. Number of registered vehicles x distance traveled x actual fuel efficiency in each country x CO2 conversion factor

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Toyota Tundra named Motor Trend Truck of the Year!


MotorTrend.com- 2008 Motor Trend Truck of the Year Winner: Toyota Tundra

                    

  VIDEO: Toyota Tundra - Motor Trend's 2008 Truck of the Year Video

When Toyota first announced it was coming out with a full-size pickup truck to go head to head with the big boys from Ford, Chevy, and Dodge, the question arose as to whether an import could truly compete as a heavyweight. The answer is in: The new Toyota Tundra is now ready to take on any American-made pickup truck -- on all levels.

Superiority? Toyota is pulling no punches by introducing one of the biggest, strongest, and most capable vehicles in the segment, as well as investing billions in a new state-of-the-art manufacturing plant in the heart of truck country-San Antonio, Texas. Significance? With Toyota looking to more than double its presence in the hotly contested half-ton marketplace, the Tundra represents one of the most highly anticipated new vehicle launches in many years -- car or truck. Value? The new Tundra offers three different powertrains (one V-6 and two V-8s), with the 5.7-liter V-8 a high-tech wonder and torque monster -- and is among the most powerful engines in any half-ton configuration. Toyota's platform has the entire segment covered with three different bed sizes, three separate wheelbases covering five different cab and bed configurations, combined with three different trim packages (Tundra Grade, SR5, and Limited) in 4x4 and 4x2 drivetrains -- 44 different truck flavors to interested buyers, from work truck to luxury touring.


Offering that kind of variety right out of the gate is impressive and ambitious; in fact, some might say too ambitious. The recent launch of the new Tundra has not been without a few hiccups. Several months ago, an early output of camshafts in the 5.7-liter V-8 were failing. Toyota tells us they traced down all the affected parts to a specific batch and have since made the corrections to the design. No failures have surfaced since. More recently, there have been some reports of transmission shudder under certain low-speed conditions, which dealers have traced to a torque converter issue. Toyota says these incidents were isolated and have also been resolved. And finally, there's been chatter on the Internet concerning tailgate problems, which Toyota is in the process of tracking down. Our guess is many of these stories spread like wildfire, given the lightning-rod effect this new truck is having with enthusiasts and the speed with which an Internet item can travel. With all that said, let's take a deeper look at what's special about our 2008 winner.


Our testing includes a telling off-road loop around our proving-ground facility, which features sandy washes, rutted dirt roads, and high-speed gravel trails.
Our testing includes a telling off-road loop around our proving-ground facility, which features sandy washes, rutted dirt roads, and high-speed gravel trails.
The Tundra's chassis and suspension handle everything the test track can throw their way.
The Tundra's chassis and suspension handle everything the test track can throw their way.
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Toyota Awards $1 million In Scholarships To 100 High School Seniors

May 9, 2008 - San Antonio, TX - Toyota Motor Sales, U.S.A., Inc., (TMS) rewarded 100 high school seniors with $1 million in college scholarships for their commitment to education and community service at an awards banquet tonight.

The winners, who make up the 12th class of Toyota Community Scholars, were chosen from a pool of more than 8,000 students nationwide nominated by their schools. To be eligible, students must be proven leaders both in the classroom and in their communities.

Based on its accomplishments, the 2008 class learned at an early age that "giving back" to the community was not an obligation, but, rather, a way of life. As one Scholar, Jacob Rouse of Union, Ky., put it: "When helping others, an incredible feeling is instilled in your veins. This feeling allows you to believe you have meaning in the world."

For the 2008 class, their dreams of making a difference became reality through programs ranging from raising $120,000 for the American Cancer Society to collecting over 3,000 pounds of food that was distributed to youngsters at more than 160 schools. In addition, one scholar – a cancer survivor and amputee – has personally visited over 600 patients with the same afflictions, providing them with gift boxes.

"It is truly amazing to see what these 100 high school seniors have accomplished at such a young age," said Michael Rouse, TMS corporate manager of philanthropy and community affairs. "Their dedication both to academics and community service is an inspiration to all of us."

The scholarships are valued at $20,000 or $10,000 each, over four years, for study at a four-year college or university starting in the fall of 2008. Since the Toyota Community Scholars program began in 1997, TMS has awarded over $13 million in scholarships to 1,200 students across the U.S.

Kristen Allcorn, a Toyota Community Scholar from Sedalia, Mo., is a prime example of the dedication to community service exhibited by this year's class. As the founder of The Community Café, Allcorn and her group of volunteer students have provided over 11,000 free evening meals to needy residents in her hometown. Hot meals are served five nights a week, with plans to expand that to three meals each day, seven days a week.

All told, Allcorn and her group have raised over $13,000 to keep The Community Café operational.

Consequently, Allcorn, like many of the Scholars, found community service to be the roadmap to what she wants to do in the future. "I never imagined the impact The Community Café would have on my community or myself. The Community Café has influenced my career plans, and I have committed to living a life of service."

The Toyota Community Scholars program is administered by Educational Testing Services in Princeton, N.J. The 12 national winners ($20,000 each) and 88 regional winners ($10,000 each) were selected by a panel of college and university admissions officials from across the U.S.

The scholarship winners were guests of honor tonight at an awards banquet in San Antonio that was attended by education, community, business and government leaders. Liz Murray, subject of the Lifetime Television movie, From Homeless to Harvard, was the keynote speaker.

The two-and-a-half-day program included a tour of Toyota Motor Manufacturing, Texas, Inc., in San Antonio, which builds the Tundra full-size pickup truck. In addition, the Scholars enjoyed an authentic Texas BBQ dinner, with games, entertainment and dancing at the Rio Cibolo Ranch.

Toyota Motor Sales (TMS), U.S.A., Inc. is the marketing, sales, distribution and customer service arm of Toyota, Lexus and Scion in the United States, marketing products and services through a network of 1,427 Toyota, Lexus and Scion dealers in 49 states. Established in 1957, TMS and its subsidiaries also are involved in distribution logistics, motorsports, and research and development.

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News and Events

Toyota Introduces a Rewards Visa Card
What if going to the grocery store or dinner with friends helped you earn points to redeem toward maintenance, ...
Free financing on 11 models is an unprecedented move for the automaker - Toyota is Lending
Updated Fri., Oct. 3, 2008 NEW YORK - Toyota Motor Corp.'s unprecedented offer of zero-percent financing ...
Toyota Motor Sales Earns 11 Awards in 2008 J.D. Power and Associates Vehicle Dependability Study
August 7, 2008 - Torrance, CA - Toyota and Lexus models have earned 11 segment awards out of a possible ...
Worldwide Prius Sales Top 1 Million Mark
May 15, 2008 - Tokyo - Toyota Motor Corporation (TMC) announced today that worldwide cumulative sales ...
Toyota Tundra named Motor Trend Truck of the Year!
MotorTrend.com- 2008 Motor Trend Truck of the Year Winner: Toyota Tundra                      Toyota ...
Toyota Awards $1 million In Scholarships To 100 High School Seniors
May 9, 2008 - San Antonio, TX - Toyota Motor Sales, U.S.A., Inc., (TMS) rewarded 100 high school seniors ...