Incentives Boost U.S. Auto Sales in March

DETROIT - Automakers are expected to post a sharp jump in March U.S. auto sales, supported by hefty incentives from Toyota Motor Corp, analysts told Reuters.

Also Tuesday, Toyota U.S. sales chief Jim Lentz said U.S. sales jumped about 35 percent in March from a year earlier.

Toyota introduced high incentives early in March as it sought to jump-start sales after the safety recalls and sales halts a month earlier. Competitors quickly matched those incentives.

Toyota U.S. sales chief Jim Lentz said the company is still reviewing incentive plans for April and has yet to decide whether to extend zero-financing offers and other unprecedented discounts beyond March.

Ford Motor Co and General Motors Co also are expected to be among the leaders in U.S. auto sales for March with the industry expected to report an overall increase of about 25 percent from a year earlier.

Ford is expected to remain the top seller in the U.S. market, a distinction it snared in February for the first time since 1998, according to Edmunds.com.

Ford's sales are expected to rise 40 percent year-on-year and GM sales by 31 percent, IHS Global Insight analyst Chris Hopson said.