Toyota Halves bZ4X Lease Down Payment In Japan To Spur Sales via insideevs.com
Things are not going well for Toyota's first-ever mass-produced EV, the bZ4X. Toyota recalled all bZ4X SUVs and halted production only two months after launch upon discovering that sharp turns and sudden braking could loosen a hub bolt, increasing the risk of a wheel falling off.at Toyota's Motomachi plant in Japan, but the bZ4X is seeing a difficult relaunch, especially in its home market.
The bZ4X is offered exclusively via leasing in Japan through Toyota's Kinto unit, and Toyota has resumed taking leasing orders on October 26. To attract interest in theWhen the electric SUV was introduced in May, Toyota charged a one-time application of 770,000 yen in addition to a 107,800 yen monthly lease for the first four years of a 10-year contract.Starting this week, the application fee is 385,000 yen while the monthly cost is down by a negligible 1,100 yen .
"In retrospect, we felt the price was a little too high and customers also pointed this out," he said, adding the bZ4X is also available for corporate lease now.that while the discount is"painful," it is unlikely to generate a significant increase in sales. Despite that, Kinto will still be able to turn a profit, the unnamed insider added.
Toyota initially aimed to lease 5,000 bZ4X electric SUVs in the current fiscal year, but Kinto's boss said that would be difficult to achieve following and because Japanese customers have a cautious approach to EVs. The country lacks charging infrastructure and gasoline-electric hybrid models are more popular than EVs partly because with hybrids consumers don't have to worry about battery life and resale value.
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