Toyota Launches Certified Used Hybrid Program
by Steve Cypher on Tuesday, January 20th, 2009Toyota seeks to drum up new business by launching an industry first certified vehicle program aimed exclusively at the used hybrid market.
Making room for third generation Prius buyers
Here at Auto Credit Express Car Loans, we can just imagine what went through the minds of Toyota execs a few months ago as they were preparing to unveil the third generation of the Toyota Prius hybrid.
While the second generation Prius was the most successful hybrid on the planet, in terms of overall sales, the new third generation version certainly looks to be an even bigger sales hit, given the right circumstances.
For its third act, the Prius ups the combined fuel economy figure from the second version from 46 mpg to 50 mpg. The latest Prius also has more room inside (5 cubic feet) even though the vehicle’s footprint is unchanged. The new model features an electric water pump (resulting in a beltless engine), a lower coefficient of drag (0.25) and a host of other innovations as evidenced by more than 1,000 patent applications related to its development.
With all these improvements, it’s easy to see why Toyota is counting on so many current owners to trade up to the version. But the question remains that if these customers do trade up, what will Toyota do to move the second gen units off dealer lots?
.jpg "Second Generation (2008) Toyota Prius")
Second Generation (2008) Toyota Prius
Here is the answer:
As the industry’s first dedicated certified pre-owned program for hybrid vehicles, TCUH was designed to drive sales of certified used hybrids while expanding Toyota’s customer base for these types of vehicles.
Customers benefit from additional inspection and warranty coverage on Toyota hybrids within the program. Each vehicle comes with the three-month/3,000-mile comprehensive warranty, seven-year/100,000-mile limited powertrain warranty and roadside assistance plan offered on traditional TCUV models. The program also brings added awareness to a pre-existing eight-year/100,000-mile factory hybrid battery warranty. The TCUH quality insurance inspection also includes 14 additional inspection points beyond the current TCUV 160-point quality assurance inspection. This expanded 174-point Toyota Certified Hybrid inspection includes examination of key hybrid components, such as the hybrid transaxle, control modules and battery.
The Toyota Certified program combines the confidence of purchasing a new vehicle with the value of a used vehicle to provide a “like new” ownership experience. Toyota certified used vehicles offer consumers a smart alternative to traditional used car options and give them the peace of mind they seek when purchasing a used vehicle.
The Bottom Line
Creating a special certified used car program just for hybrid buyers should accomplish two things: It will give pre-owned hybrid buyers additional peace of mind while at the same time opening up a whole new buyer demographic to the hybrid market.
