Incentive Spending At A Five Year Low

Incentive Spending At A Five Year Low

Overall, auto sales have been on an upward trajectory for several months, however cash incentives are not the reason for the success. Incentive spending was at a five- year low in April, according to Automotive News, down 14 percent to an average of $2,320 per vehicle.

Toyota had the lowest incentives among the top six automakers in the United States, with an average of $1,885 per unit. Nissan’s incentives have also dropped the most on a percentage basis, down 33 percent to 1,998. On the other hand, Honda has increased spending to $2, 187. Consumers looking at Japanese vehicles can likely expect fewer incentives in the short term because supply issues means fewer vehicles on dealer lots.

Stateside, Ford’s powerful product lineup has helped the automaker cut spending by 20 percent to $2,399, which was the lowest among Detroit’s big three. Chrysler slid into second place, with an average rebate of $2,806. General Motors finished in last place with $3, 068 per unit, meaning a drop of 8.1 percent from April 2010.

[Source: Autoblog]


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