Toyota Motor Corp., which led major automakers in U.S. sales gains last month, also went the furthest in cutting spending on incentives, according to Autodata Corp.
Toyota reduced spending on discounts and promotions in the U.S. in September by 15 percent to $1,908 per vehicle, Woodcliff Lake, New Jersey-based Autodata said yesterday in an e-mailed statement. Automakers reduced incentive spending in the market last month by 9.6 percent to an average of $2,405 per vehicle, Autodata said.
Ford Motor Co. and Nissan Motor Co. trimmed incentives per vehicle by 12 percent and General Motors Co. reduced its promotions by 11 percent, Autodata said.
Industrywide U.S. incentives fell 0.3 percent to $2,490 per vehicle this year through September, according to Autodata’s analysis. Sales last month accelerated to a 14.9 million annual pace, after seasonal adjustments, the fastest since March 2008. Toyota’s deliveries rose 42 percent, topping the 36 percent gain that was the average estimate of eight analysts surveyed by Bloomberg.