Incentives Drop 11 Percent in October

The average incentive on cars and trucks sold in the U.S. fell by nearly 11 percent in October, according to an industry tracking group.

Incentives were down from $3,120 per vehicle in September to $2,781 in October, according to Autodata in its monthly report.

General Motors Corp. and Ford Motor Co. were the top two companies in cutting down incentives after steep discounts in September and October to help sell their remaining 2004 models.

The weaker incentives contributed to a 7 percent drop in industry sales from September to October to a total of 1.33 million vehicles sold, according to Reuters.