In the U.S., Swapalease.com, recognized as a leader in the car lease marketplace, recently released its latest report on vehicle incentives from May. The report noted that despite all the attention being focused on recalls, few General Motors brands are currently being listed with cash incentives.
Cash incentives are considered normal practice in the modern realm of automotive sales, but what makes this report different is that the Swapalease.com marketplace involves person-to-person transactions. According to incentives data from May listings, only five per cent of vehicles with incentives were from GM. Swapalease.com executives believe the GM recalls in the news recently have had little impact on a person’s ability to attract someone else to take over their lease.
Overall, incentives in the Swapalease.com marketplace have fallen slightly from the same time a year ago, with the average personal cash incentive offered listed at $2215.56 at the end of May, compared with an average of $2464.78 last year. Lessees typically offer a cash incentive as a way to sweeten the offer when looking to escape the contract.
“With manufacturers focused on more transparency, a larger number of recalls have been instituted since the recession,” said Scot Hall, Executive Vice-President of Swapalease.com. “We believe consumers are becoming immune to the issue of recalls in general,” Hall said.
A recent customer survey conducted by Swapalease.com revealed that 90.4 per cent of drivers believe recalls are a regular part of the auto industry today and will not affect their purchase decision.
According to Swapalease, vehicles currently listed with the largest incentives in the U.S. include the Ford Expedition ($3900), Mercedes R-Class ($3000), and Nissan Murano ($2500). Vehicles currently with the lowest incentives include the Volkswagen CC ($1143), Ford Edge ($1150) and the Chevrolet Volt ($1663).
