Edmunds.com, an online resource for automotive information, recently estimated that the average automotive manufacturer incentive in the U.S. was $2,293 per vehicle sold in September 2007, down $176, or 7.1 percent, from August 2007, and down $267, or 10.4 percent, from September 2006.
According to Edmunds.com, combined incentives spending for domestic manufacturers averaged $3,156 per vehicle sold in September 2007, down from $3,354 in August 2007. From August to September, European automakers decreased incentives spending by $124 to $2,815 per vehicle sold. Japanese automakers decreased incentives spending by $155 to $1,127 per vehicle sold, and Korean automakers decreased incentives spending by $26 to $1,783 per vehicle sold.
In September, the industry's aggregate incentive spending is estimated to have totaled approximately $2.95 billion, down 18.8 percent from August. Chrysler, Ford and General Motors spent an aggregate of $2.06 billion, or 69.4 percent of the total; Japanese manufacturers spent $547 million, or 18.5 percent; European manufacturers spent $248 million, or 8.4 percent; and Korean manufacturers spent $110 million, or 3.7 percent.
Edmunds.com's monthly True Cost of Incentives (TCI) report takes into account automakers' various U.S. incentives programs, including subvented interest rates, lease programs, cash rebates, and consumers and dealers.