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SmartUSA Announces National Leasing Incentive Program
12:14 a.m. EDT, January 18, 2010

Last year Smart USA, the maker of the tiny, trendy SmartForTwo, suffered a bad year like every other automaker with a 41 percent downturn in sales. Now the minicar's American distributor has a new president and has just announced a national lease incentive program.

Smart USA Distributor LLC is now headed by Jill Lajdziak, former brand chief at Saturn, after David Schembri stepped aside on January 4. The company has announced the launch of the incentive program, with Daimler Financial Services handling financing.

In a statement, Lajdziak said the company has "continued confidence in the brand based on the volume of vehicles sold since the SmartForTwo went on sale [in the first quarter of 2008.]" Smart USA is a unit of Penske Automotive Group, Inc.

Under the new program, a 36-month lease will be available at $169 a month contingent on $999 down, an acquisition fee of $595, and the first month's payment due immediately. Seventy-seven dealers in 36 states will offer the program through February 28.

Franz Reiner, CEO of Daimler Financial Services, said in a release, "We are committed to offering a complete menu of financing options to maximize the sales potential of Smart USA."

During 2008, when gasoline prices hit a $4 a gallon high, sales of the diminutive SmartForTwo were strong, with 24,622 units sold. In 2009, however, with fuel prices at more reasonable rates and the overall automotive industry in collapse, only 14,595 of the cars were sold.


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