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Edmunds.com Reports True Cost of Incentives for June 2007


July 2007
 Filed under: CAR CONSUMER INFO Car News | CAR CONSUMER INFO Headlines
SANTA MONICA, Calif. — July 3, 2007 — Edmunds.com, the premier online resource for automotive information, estimated today that the average automotive manufacturer incentive in the U.S. was $2,483 per vehicle sold in June 2007, up $92, or 3.85 percent, from May 2007, and down $132, or 5.05 percent, from June 2006.

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 $3,200 per vehicle sold in June 2007, up from $3,139 in May 2007. From May to June, European automakers decreased incentives spending by $230 to $3,108 per vehicle sold; Japanese automakers increased incentives spending by $163 to $1,484 per vehicle sold; and Korean automakers increased incentives spending by $39 to $1,554 per vehicle sold.

In June, the industry's aggregate incentive spending is estimated to have totaled approximately $3.8 billion, up from $3.7 billion in May. Chrysler, Ford and General Motors spent an aggregate of $2.6 billion, or 67.2 percent of the total; Japanese manufacturers spent $823 million, or 21.4 percent; European manufacturers spent $322 million, or 8.34 percent; and Korean manufacturers spent $119 million, or 3.1 percent.

"Of the 'Big Six' automakers, only Honda and Toyota have higher incentives than they did this time last year," stated Jesse Toprak, Executive Director of Industry Analysis for Edmunds.com. "The competitiveness of the marketplace seems to be catching up with the Japanese heavyweights."

True Cost of Incentives for the "Big Six" Automakers

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