Market Report – Toyota Incentives Extended
In today’s market report… Japanese carmaker Nissan is entering a partnership with Renault and Daimler. The three companies said they would swap stakes and jointly develop cars as part of a plan aimed at gaining scale and sharing technology investment costs.
The partnership emerged as car makers world-wide seek to become more competitive… following a savage downturn in sales which highlighted a need to increase efficiency and conquer new markets.
Toyota is extending a package of U.S. buyers‘ incentives as it tries to continue a sales rebound in the wake of a devastating series of recalls.
The automaker offered zero percent financing on six models for up to five years and has widened a free maintenance program.
The incentives will be extended to May after they boosted March sales in America by 24 percent industry-wide.
The World Bank has sharply raised its forecast for economic growth in East Asia.
The projection reflects reviving global demand, sustained fiscal and monetary stimulus in the region and the rapid rebound in consumer spending.
According to the World Bank, the developing economies of East Asia are now predicted to grow by 8.7 percent in 2010.
Forecasts for Gross Domestic Product across China, Indonesia and Malaysia along with the Philippines, Thailand and Vietnam have all been adjusted upwards.
Asian stocks neared a 22 month high as regional investors shrugged off worries over fiscal problems in Europe and focused on the recovery in the world economy.