Join Date: Jun 2001
Location: Catonsville, Md.
Incentives edge up in May
From Automotive News:
Reuters / June 04, 2004
DETROIT -- Average spending by automakers on consumer incentives in the United States edged up last month, an industry research group said on Thursday.
Incentives across the industry averaged $3,046 in May, up from $2,994 per vehicle in April, Autodata said in a monthly report.
General Motors was once again led the industry with an average of $4,325 per vehicle in May. That represents an increase of $96 from April for the world's largest automaker, which posted a 6.5 percent increase in U.S sales last month.
The Chrysler group, which posted 5 percent U.S. sales gains last month, spent an average of $3,966 per vehicle on incentives in May. The automaker's incentives fell slightly from $4,030 in April.
Ford Motor Co., which saw its U.S sales decline 3.1 percent for May, was third in incentives spending with an average of $3,515, Autodata said. That was down a bit from April.
The U.S. auto industry posted its strongest sales in nine months in May, boosted by heavy discounts on new cars.
The average Big 3 incentives edged up to $3,991 per vehicle in May from $3,961 in April.
Average spending by Asian brands totaled $1,529, a 9 percent increase from April. European brands totaled $2,643 per vehicle in May, a 17 percent increase from the previous month.