Incentives are always popular. But at the end of a model year they play a particularly keen role in sales, according to survey results provided to Automotive News by Polk Co. in Detroit.
Among respondents who bought a new vehicle in the last three months of the 1998 model year, 81 percent said incentives 'moderately influenced' or 'strongly influenced' their decision, compared with 76 percent of those who bought in the first three months of the model year and 77 percent who bought in the middle six months of the model year.
Polk surveyed 30,000 buyers of new vehicles in the 1998 model year; 7,500 were year-end buyers.
Polk says that of the respondents who bought vehicles in the final three months of the model year, 48.5 percent got incentives, which averaged $1,917. In contrast, of those who bought cars in the first three months of the model year, only 41 percent got incentives, which averaged $1,810.