Automakers spent an average of $2,071 per vehicle to discount cars and trucks in April. That was down nearly 2 percent from April 2011, and the lowest level since October 2005.
"This is the clearest indication yet that consumer motivation is high and that automakers feel little pressure to rely on incentives in order to keep sales churning," says Edmunds.com Senior Analyst Jessica Caldwell. She sees incentives at low levels until auto sales ease off the torrid pace set so far in 2012.
GM spent the most on incentives: an average of $3,446 per vehicle. Honda spent the least: an average of $992. Nissan's spending on incentives fell the most.