Another positive sign for the auto industry is that incentive spending declined. TrueCar.com estimated that the average incentive for light vehicles was $2,353 in October, down $140 or 5.6% from a year earlier and down $71 or 3% from September 2012.
"Incentives are at their lowest levels in more than a year as automakers have been able to offer very attractive lease and finance specials at a very low cost, thanks to the historically low interest rates and high residual values," said TrueCar analyst Jesse Toprak, in a prepared statement.
-- Written by Ted Reed in Charlotte, N.C.>To contact the writer of this article, click here: Ted Reed
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