Hondaand Toyotaboth bumped up their June incentives in a major way, according to a new article in Automotive News. Year-over-year, Honda's incentives jumped by 73.2 percent to an all-time high, and Toyota's increased by 53.6 percent. That stands in contrast to the industry average, which actually dipped by some 7.3 percent versus a year ago.
Critically, however, even with that new jump, Honda's incentives totaled an average of $1221 per vehicle, and Toyota's moved to $1567. Despite big jumps, both companies remain well shy of the industry average of $2422.
For its part,Honda is seeking to move older models, many in tough segments (think: 2007 Accord and Pilot, as well as Odyssey and Ridgeline). The automaker still doggedly refuses to put cash back offers on the hoods of their vehicles, a move designed to protect resale values. Instead, it subsidized leases and lower financing rates.
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