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Have a Toyota? GM Wants Your Business!

Posted: Jan 28, 2010 10:10 a.m.

Toyota better watch its back. The Japanese powerhouse is on a two-year run as the world’s largest automaker. But now that a massive acceleration pedal recall has brought it down, it looks like GM is trying to keep it there. The financially strapped Big Three automaker is offering Toyota owners and leaseholders several incentives if they abandon the recall-plagued brand and switch to the General.

Those leasing Toyota vehicles can earn up to $1,000 in lease payments on a GM vehicle, financing customers can qualify for zero-percent financing for up 60 months, and cash buyers can get $1,000 cash back on a new GM vehicle. The promotion will run through the end of February.

“General Motors says it is getting ‘barraged’ by Toyota owners looking to jump ship after the most recent recall of 2.3 million vehicles, with the Detroit automaker much obliged to make that transition a little easier,” explains Left Lane News.

The Detroit News says other major automakers aren’t following suit -- yet: “Ford Motor Co. said today it has no plans to offer incentives to Toyota customers. Chrysler Group LLC has not decided whether to initiate incentives.”

But isn’t a bit of faux pas for GM (and possibly others) to capitalize on Toyota’s misfortune? Only time will tell.

“We're very interested to see how delicately GM handles promoting these new incentives,” writes Autoblog. “Will The General kick its Japanese competitor while it's down – or just land a love tap on the jaw?”

If you're in the market for a new car, check out the U.S. News rankings of this year's best cars as well as this month's best car deals