Domestic Automakers Extend Incentives to Toyota Owners

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When describing the reaction of rival automakers to Toyota’s troubles, the word “schadenfreude” comes to mind.

Last week, GM announced incentives aimed to lure jumpy Toyota customers who are suddenly afraid of their gas pedals, and several other automakers have since followed suit. When GM smelled blood in the water, it put up $1,000 for Toyota owners who bought their vehicles, as well as zero percent financing for 60 months and $1,000 toward paying off a lease on a Toyota.

Ford stretched its net a bit wider, offering $1,000 on trade-ins of Toyota, Lexus, Scion, Acura and Honda models. Not to be left out, Chrysler will try to move some vehicles by offering $1,000 to Tundra, Tacoma and Sienna owners.

All three programs will run through March 1.

Other than the Big Three, Hyundai offered $1,000 toward three models but allowed the deal to expire today. Interestingly, Honda chose to sit this one out.