Edmunds.com Reports Monthly True Cost of Incentives
Edmunds.com reported that the average manufacturer incentive per vehicle sold in the United States was $2,532 in May 2003. This is an increase of $606 of 31.5 percent from May 2002; and an increase of $271 or 10.7 percent from April 2003. Edmunds.com’s monthly True Cost of Incentives report takes into account all of the manufacturers’ various U.S. incentives program, including subvented interest rates and lease programs as well as cash rebates to consumer and dealers, the company announced. Incentives spending for domestic Chrysler, Ford, and General Motors nameplates averaged a record high of $3,389 per unit in incentives per May. This compares to $1,945 for European automakers; $1,371 for Korean manufacturers; and $1,062 for Japanese automakers.