US Vehicle Incentives Fell 11 Percent
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The average incentive on cars and trucks sold in the United States fell by nearly 11 percent in October from September as automakers ramped up inventories of new 2005 model year vehicles with fewer discounts, an industry tracking group
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Products like gas, used cars and childrenâs clothing dropped, canceling out inflation in other categories.
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Sales of GM and Ford cars in the US dropped during August as the industry was hit by a number of factors.
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A slowdown in automobile and financial advertising hurt the companyÂs advertising sales over the last few weeks.
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Ford Motor Co.  on Thursday said U.S. February vehicle sales fell 13 percent from a year earlier because of planned reduction of sales to daily-rental companies.
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Detroit automakersâ share of the American car market fell to a record low in June, foreshadowing another summer of deep discounts, cheap car loans and deals on leases.
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Consumers lost a little of their enthusiasm for auto purchases last month but spent like mad in a number of other areas, including clothing and gasoline, the Commerce Department reported Friday.
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Automakers deepened the discounts and  rebates on offer to U.S. consumers in June from a month  earlier, adding incentives to slow-selling minivans and trucks,  industry tracking service Edmunds.com said on Tuesday.
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Ford Motor Co.  said on Friday U.S. May vehicle sales fell 6.8 percent from a year earlier as higher gas prices and a weaker housing market hurt consumer demand and the automaker cut back on fleet sales.
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GM and Ford sales fell in October as the two largest automakers cut incentives. Sales rose at Chrysler and Toyota, helped by new models.
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Ford Motor Co., the second-largest US automaker, said US sales of cars and trucks fell 4.2 percent in September from a year earlier as rising gas prices and slumping consumer confidence discouraged buyers.
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Interest rates on short-term Treasury bills fell in auction yesterday to the lowest levels in more than a year.
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Shares of Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co. fell after their combined August US sales declined for the first time since 2002.
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Jaguar said yesterday it would cut production by about 15,000 cars, or 11%, for the rest of the year in response to weak sales in its key market of the US.
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US gasoline costs fell to their lowest level in four months, with the national pump price dropping 1.8 cents over the last week to $1.
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The average U.S. retail gasoline  price fell to $2.38 a gallon, dropping for the seventh week in  a row, and could decline another 23 cents by mid-October, the  government said on Monday.
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Interest rates on short-term Treasury bills fell in yesterday's auction with rates on six-month bills dipping to the lowest level since early December.