U.S. new-vehicle sales this month are expected to be about the same as a year ago or down slightly, according to three forecasts issued this week, but it’s taking record incentives to keep up that pace.
Incentive spending in the first 12 days of the month reached a new February high of $3,748 per vehicle, J.D. Power said. That’s an 8.5 percent increase from February 2016. Average transaction prices also are rising, but incentives now account for more than 10 percent of transaction prices for the first time in any February since the recession of 2009. Sales numbers will be released on Wednesday, March 1.
