Incentives Decline for First Time in Five Years

By Staff Writer July 27, 2018

Incentive spending for July is on pace to decline for the first time since 2013.

According to a forecast developed jointly by J.D. Power and LMC Automotive, incentive spending through the first two weeks of July was $3,665 per unit, down $204 from the same time last year.

The decline has been driven by reduced spending on cars, down $579, while spending on trucks/SUVs is up $5.

New-vehicle retail sales in July are expected to fall from a year ago on a selling-day-adjusted basis. Retail sales are projected to reach 1,156,200 units, a 3.2 percent decrease compared with July 2017.

July 2018 has one less selling day than July 2017 and one less weekend. July has the fewest sales days for the year at 24.

Without the selling-day adjustment, retail sales would be down 7.1 percent.

Last modified on Friday, 27 July 2018 19:38

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