Do Toyota’s Troubles Mean Gold for Others?
SANTA MONICA, Calif. — In the February TrueTrends data from TrueCar, the company touched upon a wide array of industry topics, but one of the key features this month was the Toyota recall and how other automakers may have gained from Toyota's troubles.
Apparently, almost all models that can be considered in Corolla's competitive set gained more Web traffic, with the exception of the Nissan Sentra, which lost 11.06 percent.
Interestingly, almost all others showed double-digit gains, with the Kia Forte leading the pack, up 33.33 percent. Next in line was the Hyunda Elantra, up 25.65 percent. The Hyundai model was followed by the Ford Focus (up 14.29 percent), Honda Civic (up 13.29 percent) and Chevrolet Cobalt (up 5.90 percent).
Meanwhile, looking at models comparable to the Camry, TrueCar discovered that the Hyundai Sonata gained 26.81 percent in Web traffic, followed by the Ford Fusion (up 26.39 percent), Nissan Altima (up 11.88 percent) and Honda Accord (up 11.17 percent).
The only models to lose ground in this area were the Kia Optima (down 24.70 percent) and the Chevrolet Malibu (down 7.53 percent).
Next up, the company analyzed which automakers showed the highest Toyota conquests after the recalls.
Coming in for a tie were Ford and Honda, both at 25 percent. Next was Hyundai at 20 percent, followed by Nissan at 10 percent and Kia at 5 percent. The "other" category has drawn about 15 percent in Toyota conquests.
Finally, TrueCar found that of eight brands it reviewed for Web traffic on its site, only two lost ground. By far the larger of the two drops was for Toyota at 30 percent down. Chevrolet also dropped just slightly, remaining close to flat from prior to the Toyota recalls.
Giving a bit of information about the data the company based its results on, officials said, "During the last month, TrueCar acquired actual sales transaction data for more than 43 percent of all new vehicles sold within the United States."
And as of January, this covers more than 300,000 units sold.