US Auto Incentives In December Up 1.8% From November -Edmunds.com

Date : 01/03/2012 @ 2:26PM
Source : Dow Jones News
Stock : Honda Motor Company, Ltd. (HMC)
Quote : 27.41  0.0 (0.00%) @ 4:00AM

US Auto Incentives In December Up 1.8% From November -Edmunds.com

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Average per-vehicle incentives in the U.S. from auto makers rose 1.8% in December from the prior month, according to car-shopping website Edmunds.com, as five of the six major auto makers posted sequential increases.

The industry gave out an average of $2,314 for each vehicle it sold in December, up from $2,272 in November and down from $2,538 in December 2010.

Honda Motor Co. (HMC, 7267.TO) reported the biggest month-over-month increase in incentive spending, rising 7.2% from November.

Chrysler Group LLC and Ford Motor Co. (F) both reported a 2.4% sequential increase in incentive spending.

Edmunds said Chrysler's marketing and sales success in 2011 led to far less reliance on incentive spending last month. Chrysler posted a 27% year-over-year decrease in incentive spending, the biggest drop among the major auto makers.

Toyota Motor Corp. (TM, 7203.TO) reported a 2.2% sequential increase while Nissan Motor Co. (NSANY, 7201.TO) spent 0.1% more on incentives in the latest month.

General Motors Co. (GM) was the only major auto maker to spend less on incentives in December from November, posting a 1.2% decrease. GM had reported the biggest sequential increase in incentive spending in November from the prior month.

-By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; nathalie.tadena@dowjones.com

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