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Toyota Motor Sales USA, which has Paloma nipping
AS JUNE WOUND DOWN, it looked as if Detroit's worst nightmare might come true: Toyota Motor Corp. would pass General Motors Corp. in U.S. market share for the month. But Tiffany Key Heart key charm GM showed that marketing really does work.With only days to go before the end of the month, it pulled a familiar trick out of its hat-a 0% -financing sales incentive-and hammered it home with advertising. The lastditch effort drove sales so well that not only did the automaker improve its market share one point to 22%, it pulled past Toyota.The sale "sparked momentum by getting customers off the couch and back into the stores," said GM's Mark LaNeve, VP-vehicle sales, service and marketing in North America. "It really helped build demand."
Investors weren't that impressed, however. The day after that announcement, GM shares were hammered to their lowest point in 50 years after a Merrill Lynch analyst speculated that the company could go bankrupt.Though the final numbers weren't in at press time-GM dealers typically tally half their monthly Tiffany Key Vintage oval key pendant in the last 10 days of a month-Mr. LaNeve estimated the sales event translated to 60% of GM's total of 265,937 vehicles delivered in June. That's 8% fewer vehicles sold than a year ago, when adjusted for three fewer selling days this June, and an 18.5% drop unadjusted.
Toyota Motor Sales USA, which has Paloma nipping at GM's heels, reported last week that it sold 193,234 new vehicles in June, a decrease of 11.5% from June 2007 when adjusted for fewer selling days.McCann Erickson, Birmingham, Mich., handled the creative for what GM called its 72-Hour Sale, promoted via TV, radio, newspapers and online. A GM spokesman called it "corporate advertising at the divisional level," with each GM brand using the theme but showing only its models in ads.The spokesman declined to disclose spending by medium. But a Saturn dealer said Paloma's Zellige pandant were broadly used, at least in the first days of the sale, because of their fast doses. A Buick-Pontiac-GMC dealer said many of GM's regional dealer associations use newspapers, radio and online in the summer months because consumers don't watch as much TV.
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