Edmunds Revises Toyota Incentives Estimate
 |
SANTA MONICA, Calif.--Edmunds Inc., publisher of four Web sites that empower, engage and educate automotive consumers, enthusiasts and insiders, today regretfully announced that it recently miscalculated the True Cost of IncentivesSM (TCISM) for the Toyota Tundra.
|
Corrected Data for July 2007 |
||||
| Reported July 2007 TCI | Actual July 2007 TCI | |||
| Toyota Tundra | $6,861 | $4,625 | ||
The following chart sets forth other corrections necessitated by the Tundra revision.
| Reported July 2007 TCI | Actual July 2007 TCI | |||
| Large Truck Segment | $4,189 | $3,895 | ||
| Toyota Division | $1,807 | $1,245 | ||
|
Toyota Motor Sales, U.S.A.
(including Lexus and Scion) |
$1,615 | $1,149 | ||
| Industry | $2,575 | $2,492 |
The incorrect data suggested that the Tundra had the highest TCI of the large truck segment during July 2007. The following chart presents the correct ranking of large trucks by TCI for the month.
|
Large Trucks Ranked by TCI for July 2007 |
||
| Dodge Ram Pickup 1500 | $6,739 | |
| Nissan Titan | $4,835 | |
| Toyota Tundra | $4,625 | |
| Chevrolet Silverado 1500 | $3,995 | |
| Ford F-150 | $3,574 | |
| Honda Ridgeline | $2,746 | |
“Incentives analysis has many components and complicated national and regional considerations. Unfortunately in this case our team misapplied a piece of data that had widespread repercussions in our report,” stated Dr. Jane Liu, Vice President of Data Analysis for Edmunds. “We deeply regret the error and have taken steps to ensure that such a mistake does not happen again.”
Edmunds' monthly True Cost of IncentivesSM (TCISM) report takes into account all of the manufacturers' various United States incentives programs, including subvented interest rates and lease programs as well as cash rebates to consumers and dealers. To ensure the greatest possible accuracy, Edmunds.com bases its calculations on sales volume, including the mix of vehicle makes and models for each month, as well as on the proportion of vehicles for which each type of incentive was used.
About Edmunds Inc. (http://www.edmunds.com/help/about/)
Edmunds Inc. publishes four Web sites that empower, engage and educate automotive consumers, enthusiasts and insiders. Edmunds.com, the premier online resource for automotive consumer information, launched in 1995 as the first automotive information Web site. Its most popular feature, the Edmunds.com True Market Value®, is relied upon by millions of people seeking current transaction prices for new and used vehicles. Edmunds.com was named "Best Car Research Site" by Forbes ASAP, has been selected by consumers as the "Most Useful Web Site" according to every J.D. Power and Associates New Autoshopper.com Study(SM), was ranked first in the Survey of Car-Shopping Web Sites by The Wall Street Journal and was rated "#1" in Keynote's study of third-party automotive Web sites. Inside Line launched in 2005 and is the most-read automotive enthusiast Web site. CarSpace launched in 2006 and is an automotive social networking Web site and home to the oldest and most established automotive community. AutoObserver.com launched in 2007 and provides insightful automotive industry commentary and analysis. Edmunds Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit.