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Toyota extends warranty to five years
Date: 01 June 2010
Toyota has pushed its standard warranty across the entire car range to five years or 100,000 miles in a move designed to renew confidence in the brand after a difficult start to 2010.
The "We've been looking at it for a while," Toyota fleet boss Mark Roden told BusinessCar. "It displays our continued commitment to quality, it's been on the agenda but the timing is right to re-ignite confidence in the brand."
Roden is hoping for a residual value boost from the decision, as cars defleeted after three years that still have a portion of warranty left should prove more desirable in the used arena. "We do see potential for residual value increases, but it's about our commitment to quality in the first instance," he said.
The firm has noticed a trend of more fleets taking terms beyond three-years and 60,000 miles, and Roden thinks Toyota's development "works very well" in that situation.
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