Incentives offered by the Chrysler group, Ford Motor Co. and General Motors increased to an average of $2,886 per-vehicle sold in February from $2,749 in January, according to Edmunds.com.
The month-to-month increase was significant because incentives historically are lower in February than in January, when automakers work to deplete their inventory of previous model-year vehicles, says Jesse Toprak senior manager of pricing and market analysis for Edmunds.com.
Edmunds.com, an automotive consumer information site, produces a monthly report of automakers' incentive costs called the True Cost of Incentives. It tallies incentive figures from all automakers, including subvented lease programs and cash-back offers to consumers and dealers, to find its monthly average per-vehicle-sold figure. Dealer volume discounts are not included.
The Web site says of the Big 3, Chrysler had the highest percentage gain in incentives, up 10 percent, or $245 per vehicle in February compared with January. Chrysler's February market share was up 2.1 percentage points in February compared with January.
The Big 3 in February held 61.31 percent market share, up from 58.74 percent in January.
European automakers' incentives per-vehicle sold averaged $1,422 in February, Edmunds.com reports. European makers' market share in February remained largely unchanged from January, when they held 7.19 percent. Europeans had 6.9 percent market share in February.
Edmunds.com says Japanese automakers' incentives per vehicle sold averaged $851 per vehicle. Japanese market share in February was 27.85 percent. It was 29.6 percent in January.
Korean manufacturers averaged $974 per vehicle in February, Edmunds.com says. Korean market share in February was 3.72 percent, down slightly from 4.2 percent in January.
Edmunds.com, of Santa Monica, Calif., calculates that for every dollar Japanese automakers spent in incentives on each vehicle they sold in the United States in February, Korean makers spent $1.15, Europeans spent $1.67 and domestics spent $3.39.