#incentives

According to credit reporting bureau TransUnion, auto finance has a bright future ahead in 2014, with easier access to credit and bigger loans for consumers.

AutomakerNov. 2013Nov. 2012Pct. chng.11 month
201311 month
2012Pct. chng.BMW Group36,41136,5400%332,725304,5979% BMW division31,75231,2132%271,891244,06111% Mini4,5755,248–13%59,91059,6670% Rolls-Royce84796%9248696%BMW Group36,41136,5400%332,725304,5979%Chrysler Group142,275122,56516%1,639,3611,499,4209% Chrysler Division21,02418,76612%282,222282,4540% Dodge41,50640,0754%548,654472,59816% Dodge/Ram72,76165,14912%880,469742,64119% Fiat3,0753,603–15%39,49140,065–1% Jeep45,41535,04730%437,179434,2601% Ram31,25525,07425%331,815270,04323%Chrysler Group142,275122,56516%1,639,3611,499,4209%Daimler AG37,34532,65814%306,898273,69412% Maybach–5–100%–45–100% Mercedes-Benz36,38631,94914%298,489264,63613% Smart USA95970436%8,4099,013–7%Daimler AG37,34532,65814%306,898273,69412%Ford Motor Co.189,705177,0927%2,268,6442,030,10712% Ford division182,978171,3607%2,194,9341,955,34112% Lincoln6,7275,73217%73,71074,766–1%Ford Motor Co.189,705177,0927%2,268,6442,030,10712%General Motors212,060186,50514%2,555,9212,349,9849% Buick15,07213,28913%190,130163,93516% Cadillac16,17214,51711%164,378131,53425% Chevrolet145,089128,86713%1,793,6321,684,5557% GMC35,72729,83220%407,781369,96010%General Motors212,060186,50514%2,555,9212,349,9849%Honda (American)116,507116,5800%1,390,0571,290,0118% Acura14,55912,24619%149,685140,1827% Honda Division101,948104,334–2%1,240,3721,149,8298%Honda (American)116,507116,5800%1,390,0571,290,0118%Hyundai Group101,41694,5427%1,159,3261,161,9930% Hyundai division56,00553,4875%657,778643,5722% Kia45,41141,05511%501,548518,421–3%Hyundai Group101,41694,5427%1,159,3261,161,9930%Jaguar Land Rover6,0474,40037%59,65449,45221% Jaguar1,446713103%15,40810,96241% Land Rover4,6013,68725%44,24638,49015%Jaguar Land Rover6,0474,40037%59,65449,45221%Maserati887208326%3,7152,39755%Maserati887208326%3,7152,39755%Mazda20,75421,691–4%260,983249,7935%Mazda20,75421,691–4%260,983249,7935%Mitsubishi6,0713,57470%55,80453,6774%Mitsubishi6,0713,57470%55,80453,6774%Nissan106,52896,19711%1,138,6621,042,3669% Infiniti13,15211,89711%103,223107,250–4% Nissan Division93,37684,30011%1,035,439935,11611%Nissan106,52896,19711%1,138,6621,042,3669%Subaru36,62128,20630%384,511299,78828%Subaru36,62128,20630%384,511299,78828%Suzuki*–2,224–100%5,94623,412–75%Suzuki*–2,224–100%5,94623,412–75%Toyota178,044161,69510%2,045,1991,888,3618% Lexus25,61122,71913%239,090213,55912% Scion4,9685,606–11%63,99867,983–6% Toyota division147,465133,37011%1,742,1111,606,8198% Toyota/Scion152,433138,97610%1,806,1091,674,8028%Toyota178,044161,69510%2,045,1991,888,3618%Volkswagen48,69552,916–8%556,839553,2421% Audi13,63612,06713%141,048124,46913% Bentley32021251%2,5192,07821% Lamborghini*46445%5064766% Porsche3,9663,8653%39,07732,09122% VW division30,72736,728–16%373,689394,128–5%Volkswagen48,69552,916–8%556,839553,2421%Volvo Cars NA4,2336,141–31%56,34561,967–9%Volvo Cars NA4,2336,141–31%56,34561,967–9%Other***2532463%2,7832,7023%TOTAL1,243,8521,143,9819%14,223,37313,136,9638%

Sales of cars and light truck in the United States went up 9% overall to 1.24 million units delivered in November, selling at the fastest clip in almost seven years. The SAAR rose to 16.4 million units, exceeding analyst predictions of about 15.8 million vehicles. That’s the best seasonally adjusted annual rate since Feb. 2007, before the start of the global recession. November sales were the best since 2003 and close to the best November ever.

Remember this piece from the Honda Summer 2008 Hydrogen Collection? It was supposed to point the way to future of green fuel technology before the Tesla brought plug-in sex appeal down the ramp with their Roadster and, later on, the S, as well as the trend of compliance EVs from Chevrolet, Volkswagen and Kia.

But with sales of plug-in hybrids advancing far slower than originally expected regulators are taking another look at alternative ZEV powertrains.

The Hyundai Sonata is the oldest car in its segment and a new model is expected next year. Normally, when a car is about to be replaced by the next generation of that model, automakers usually start increasing incentives to move the metal. Sonata sales are down 11% from last year. Now, Hyundai has slashed production of its midsize car, allowing it to reduce incentives to the second lowest in the segment. Average incentive spending on the Sonata is down to ~$2,200. Only Honda’s Accord, with about $840 in incentives available is discounted less.

General Motors announced that the 2014 edition of the Chevy Volt will start rolling off the assembly line at GM’s Detroit-Hamtramck assembly plant today. They also announced that when those new Volts arrive at dealers in a few weeks they’ll be $5,000 cheaper than the 2013 model. The move is in response to price cuts and lease deals on competitors’ EVs. After Nissan cut the price of the Leaf by $6,400 in January, its sales are up 300% from last year for the first half of 2013, just barely outselling the Volt. In July, Ford lowered the price of the Focus Electric by $4,000 and the recently launched Fiat 500e and Chevrolet Spark EV are offering $199/month leases.

This year’s sales race in the mid-size segment is one of the most competitive in recent memory. 5 of the top 10 best-selling cars in America are mid-sizers, and automakers are pulling out all the stops in an effort to unseat the Toyota Camry from its standing as America’s best-selling car. But Toyota isn’t going down without a fight.

GM is sitting on 4.5 months of slow-moving Volt inventory, says the Detroit News. To make matters worse, production on the 2014 model is about to start. To make a dent into the 140 days of Volt supply, what do you think GM will do?

TTAC readers looking for a more pro-GM news source may want to check out Bloomberg for their next dose of pro-GM news. A story on Cadillac’s revived fortunes contains all kinds of enthusiastic copy and positive quotes, but still manages to bury the lede way down at the bottom of the story.

The General attracted all kinds of flak for its growing inventory of full size trucks. When we raised the issue earlier in the year, we were chided for yellow journalism and blatant bias. Months later, the MSM woke up to the story, and when the Detroit News wrote that GM’s pickup truck inventory was “much higher than the less-than-100-day supply considered ideal for full-size pickups,” even the diehards accepted that the inventory may be a mite rich.

That problem just went away. Poof, gone, just like that.

It did not take a high degree of intellect when we recommended last week to wait for a better deal if you are in the market for a Chevy or GMC pick-up. GM threw its vaunted fiscal discipline in the wind and is piling cash on the hood of trucks that are piling up on dealer lots.

Last week, we told you to not buy a full-sized GM pickup just yet, and to hold out for big discounts from GM. You did not have to wait long. However, you may want to wait a little more.

Are you in the market for a full-size pickup? Hold your fire. With a little patience, you can profiteer from an all-out Battle of the BOFs. It’s a fight for your money, and for delivering optimistic 2012 sales goals. The noise you hear outside are the winds of war: GM not only missed its truck sales goals in November, it also sits atop a 4 ½ month supply of full-size pickups taking up space (and cash) at dealer lots. “We’ll continue to use all levers to influence inventory…,” said Kurt McNeil, GM’s VP of U.S. sales. “That includes first and foremost adjusting production and marketing activity.” Translation: Shutdowns and cash on the hood.

Sales won’t be the only thing up when September new car sales are reported today. (Keep an eye on TTAC.) “”Transaction prices in September are the highest in years,” said Jesse Toprak, research chief of TrueCar.com.

The latest from USA Today suggests now is a good time to buy a Chevy Volt, if that’s what you really want. I checked in with former(?) TTAC scribe Captain Mike Solo, currently helping someone lease a Volt, and he says about the same: lease for $270 a month, with $1500 down. Which includes the government tax credit built into the residual…probably. So what does this all mean?

People keep their eyes on automaker incentives for various reasons. Customers are hunting deals. Analysts hunt carmakers that are sitting on a glut of cars. Incentive numbers don’t always tell the full story, says Edmunds. In August, incentive spend was subdued and stable. Automakers and dealers have become adept in camouflage though, and the reported stability of incentive spending doesn’t factor in some of the “hidden incentives.”