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SEARCHSANTA MONICA, Calif. -- Edmunds.com reported that based on preliminary data, the average manufacturer automotive incentive in the U.S. was $2,366 per vehicle sold in September 2005, down $780, or 24.8 percent from September 2004, and down $245, or 9.4 percent, from August 2005.
SANTA MONICA, Calif. -- Edmunds.com reported that based on preliminary data, the average manufacturer automotive incentive in the U.S. was $2,366 per vehicle sold in September 2005, down $780, or 24.8 percent from September 2004, and down $245, or 9.4 percent, from August 2005.
The Web site’s monthly True Cost of Incentives report weighs the various manufacturers' U.S. incentives programs, from subvented interest rates and lease programs to cash rebates for consumers and dealers.
The industry's spending on incentives totaled an estimated $3 billion in September.
Based on the preliminary data, domestic incentives spending averaged $3,140 per vehicle sold in September - the lowest since April 2003 – down $476 from August 2005. Chrysler was the only domestic automaker to increase incentives spending in September.
Among vehicle segments, large SUVs continued to offer the highest average incentives at $4,704 per vehicle sold, while sports cars had the lowest average incentives per vehicle at $774. Looking at incentives expenditures as a percentage of MSRP for each segment, large SUVs were the highest, 10.9 percent, while sports cars were the lowest, 2.6 percent.
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