Large Incentives Available for Leftover Models
More incentive money is available now for leftover model year car purchases than ever before.
The average new-car incentive in the U.S. last month was $2,681 per vehicle sold, up $225 from August 2009.
Incentives are typically used to drive current-year cars off the lots to make room for the next model year.
But it's not all honey and roses. Shoppers will have fewer cars to choose from, since inventories are very low right now. Compared to last summer, cars are selling quickly - about 50 days on average instead of the 70 days it took last summer.
Premium sports cars had the highest average incentives at $8,221 per vehicle sold, followed by large trucks at $4,359.
Subcompact cars had the lowest average incentives, at $1,215. They were followed by sports cars at $1,422 average incentives per car sold.
Scion had the smallest incentives outlay: just $497 per car in August. Smart was close behind at $502 per vehicle sold.
At the other end of the spectrum, Lincoln spent the most, $4,832, followed by Saab at $4,790 per vehicle sold.
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