Honda's and Toyota's numbers give an interesting insight on the side effects of their fleet-market policies. That GM bettered Chrysler in even one month is absolutely scary.
Edmunds.com Reports True Cost of Incentives for August
http://biz.yahoo.com/bw/080903/20080903005601.html?.v=1
SANTA MONICA, Calif.--(BUSINESS WIRE)-- http://www.edmunds.com/ , the premier online resource for automotive information, estimated today that the average automotive manufacturer incentive in the U.S. was $2,642 per vehicle sold in August 2008, down $3, or 0.1 percent, from July 2008, but up $173, or 7.0 percent, from August 2007.
"Contrary to what you would expect, General Motors’ Employee Discount for Everyone program did not inflate GM’s incentive spending for the month of August,” stated Jesse Toprak, Executive Director of Industry Analysis for Edmunds.com. "In fact, because the program required dealers to participate and subsidize part of the offer, the result was a net decrease in GM’s overall incentive costs.”
Edmunds.com's monthly True Cost of IncentivesSM (TCISM) report takes into account all automakers' various U.S. incentives programs, including subvented interest rates and lease programs, as well as cash rebates to consumers and dealers. To ensure the greatest possible accuracy, Edmunds.com bases its calculations on sales volume, including the mix of vehicle makes and models for each month, as well as on the proportion of vehicles for which each type of incentive was used.
According to Edmunds.com, combined incentives spending for domestic manufacturers averaged $3,832 per vehicle sold in August 2008, up from $3,762 in July 2008. From July 2008 to August 2008, European automakers decreased incentives spending by $811 to $2,578 per vehicle sold; Japanese automakers decreased incentives spending by $9 to $1,492 per vehicle sold; and Korean automakers decreased incentives spending by $53 to $2,079 per vehicle sold.
True Cost of Incentives for the "Big Six" Automakers
Automaker
August 2008 July 2008 August 2007
Chrysler Group $4,366 $4,022 $3,769
Ford ----------$3,443 $3,202 $3,139
General Motors $3,865 $4,063 $3,329
Honda ---------$1,205 $1,279 $1,102
Nissan----------$2,312 $2,445 $2,304
Toyota----------$1,398 $1,243 $887
SANTA MONICA, Calif.--(BUSINESS WIRE)-- http://www.edmunds.com/ , the premier online resource for automotive information, estimated today that the average automotive manufacturer incentive in the U.S. was $2,642 per vehicle sold in August 2008, down $3, or 0.1 percent, from July 2008, but up $173, or 7.0 percent, from August 2007.
"Contrary to what you would expect, General Motors’ Employee Discount for Everyone program did not inflate GM’s incentive spending for the month of August,” stated Jesse Toprak, Executive Director of Industry Analysis for Edmunds.com. "In fact, because the program required dealers to participate and subsidize part of the offer, the result was a net decrease in GM’s overall incentive costs.”
Edmunds.com's monthly True Cost of IncentivesSM (TCISM) report takes into account all automakers' various U.S. incentives programs, including subvented interest rates and lease programs, as well as cash rebates to consumers and dealers. To ensure the greatest possible accuracy, Edmunds.com bases its calculations on sales volume, including the mix of vehicle makes and models for each month, as well as on the proportion of vehicles for which each type of incentive was used.
According to Edmunds.com, combined incentives spending for domestic manufacturers averaged $3,832 per vehicle sold in August 2008, up from $3,762 in July 2008. From July 2008 to August 2008, European automakers decreased incentives spending by $811 to $2,578 per vehicle sold; Japanese automakers decreased incentives spending by $9 to $1,492 per vehicle sold; and Korean automakers decreased incentives spending by $53 to $2,079 per vehicle sold.
True Cost of Incentives for the "Big Six" Automakers
Automaker
August 2008 July 2008 August 2007
Chrysler Group $4,366 $4,022 $3,769
Ford ----------$3,443 $3,202 $3,139
General Motors $3,865 $4,063 $3,329
Honda ---------$1,205 $1,279 $1,102
Nissan----------$2,312 $2,445 $2,304
Toyota----------$1,398 $1,243 $887
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