GM launches incentive program for current Toyota owners

With Toyot's sales operations effectively on hold, General Motors is reaching out to those Toyota owners concerned about the Japanese automaker's ongoing recall problems. Toyota was forced to halt sales of eight models following a recall announced last week.

General Motors says it is getting "barraged" by Toyota owners looking to jump ship after the most recent recall of 2.3 million vehicles, with the Detroit automaker much obliged to make that transition a little easier. "A lot of these customers were our customers, "¦ and they're looking for help and we want to provide help," Steve Hill, GM general manager of retail sales support, told the Detroit Free Press.

In order to aid that transition, GM is offering an incentive program for "any Toyota owner".

Per the terms of the program, current Toyota lease holders can get up to $1,000 to terminate their lease contract and get behind the wheel of any Chevrolet, Buick, Cadillac or GMC vehicle. Toyota owners are also qualified for 0 percent financing for up to 60 months or $1,000 cash back.

The promotion is slated to run through the end of February. Of note, Toyot's production shutdown is scheduled to run through at least February 5th.