Automakers Pile on Incentives to Boost Year-End Auto Sales

As 2005 comes to a close, automakers were scrambling to boost new vehicle sales. Find out what tactics automakers are taking to generate new sales and the impact they may have on credit unions.

 
 

According to National Automobile Dealers Association Chief Economist Paul Taylor, total new U.S. vehicle sales are expected to surpass last year’s total at 16.9 million vehicles, up from 16.8 million. However, automakers are paying a heavy price for these increased sales in rebates and discounts that they are offering consumers.

After record sales months in July and August through their “Employee Discounts for Everyone” programs, automakers moved away from incentives and offered lower prices instead. As a result, auto sales have dropped and still have not reached the same levels that they were at during the summer.

 

 

 

Jan. 2, 2006


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