Toyota plans $1 billion marketing, more hybrids

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Toyota plans $1 billion marketing, more hybrids

DETROIT (Reuters) - Toyota Motor Corp is preparing a $1 billion marketing campaign to boost U.S. sales in the fourth quarter, while also expanding its line of hybrid models under the Prius name, the company said on Thursday.

The $1 billion will include a media campaign, as well as buyer and dealer incentives, including sweeteners for leasing.

Toyota President Akio Toyoda and top U.S. company executives told Toyota and Lexus dealers of the plans at an annual dealers meeting in Las Vegas, Miller said.

The $1 billion marketing and advertising plan is 30 percent to 40 percent more than Toyota typically spends in the quarter, the report said, citing a person familiar with the matter.

The plan includes subsidizing leases and loan rates, offering other customer incentives and helping pay for dealer ads, Miller said.

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http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE58G35G20090917