Automakers paying record-level incentives on premium sports cars
Looking for a new premium sports car? Well, you may be in luck. According to Edmunds.com, automakers have been spending heavily on incentives for slow-selling high-performance sports cars. The level hit a new record of $10,128 for every vehicle sold in September, shattering the previous high of $7,347 in April 2004.
Edmunds.com said that one of the heftiest rebates was offered on the 2009 Cadillac XLR-V with GM offering up to $10,000 in rebates or 4.9 percent financing. The deal on the XLR-V has been extended to November 2. The 2009 Cadillac STS-V sold with zero-interest financing. During this month, GM will offer 5.9 percent financing and cash rebates of up to $3,000.
BMW is offering a 0.9 percent rate on the 6-Series and the M6 through November 2. Edmunds.com said that BMW is also offering $6,000 in incentives to dealers, some or all of which can be passed onto the customer.
The publication said that across the board, the average automaker incentive was $2,557 per vehicle sold in September.
– By: Stephen Calogera
Source: Inside Line