Incentives on Chrysler vehicles sold in February averaged $5,566, according to a new report. Industry average for incentives climbed to 20 percent of sticker price, though Chrysler’s rebates were, in many cases, significantly higher. A year ago, the company’s average incentives were just $3,520.
Chrysler ’s discounts increased 30 percent from January 2009, and 60 percent from February 2008. Although sales as such low prices are hardly profitable, Chrysler’s market share did increase in February, indicating at least partial success.
For the month of February, Chrysler reported total sales of 84,050 units — a 44 percent decrease compared to a year earlier. That said, the results were better than GM’s 53 percent drop and Ford ’s 48 percent decline.
It’s worth point out Jeep and Dodge brand sales declined just 32 percent and 39 percent, respectively — which is similar to the decreases reported by Asian brands like Toyota and Honda . However, Chrysler brand sales declined a massive 63 percent.
