McLEAN, Va. -

Incentives spending growth has crept back up to exceed auto sales figures this month, according to the NADA Guidelines report for November, with the numbers rebounding after a quarter of decline.  

In its Used Car Guide Update, released Tuesday, NADA analysts cite Autodata figures showing average incentives spending at $2,583 this month.

While sales increased by 10.5 percent, the growth in incentives spending was larger, up 11.9 percent, the highest year-over-year jump since March 2009, analysts said.

Spending above the industry average for incentives is General Motors; its Chevrolet brand saw an increase of 21 percent. Also above average in spending are Buick and Cadillac at 18 percent and 14 percent, respectively.

Ford, however, took spending a step further with 35 percent growth, NADA reported, while Lincoln increased by just 1.5 percent.

Coming in under the spending average is Chrysler Group LLC, up 9 percent. Dodge saw a drop of 0.3 percent and Jeep was 22 percent.

Among Japan’s Big Three automakers, only Toyota Motor Sales spent more than the growth average, with its Toyota brand up 13 percent and its Lexus brand up 28 percent.

Honda’s incentives spending fell 13 percent and Acura's by 36 percent, which was the biggest drop in the industry. At Nissan, NADA reports a 1.4 percent pullback, while Infiniti came in second to Acura, with spending down 25 percent.

Analysts noted the numbers at Subaru show the OEM spent 14 percent less with average incentives of $771, the second lowest in the industry after luxury brand Porsche, at $717 per unit.

The next lowest spender among volume automakers was Honda, analysts reported, with a 96 percent higher average of $1,514.

And at Volkswagen, incentives spending increased by 14 percent even as sales plummeted by 18 percent.

For the first time since December 2011, NADA found rises in both finance and lease subvention usage, with increases of 9.8 percent and 5.4 percent, respectively.

The November report also shows customer cash continuing to increase, with a 19.8 percent jump that marked the highest year-over-year rise since January 2009.

In October, incentives spending climbed at an alarming rate, NADA noted, with dealer incentives the only type to drop, down 10.4 percent.

“With the increased growth in total incentives, it appears that automakers are pushing to maintain sales momentum, but this could be an issue down the road,” NADA analysts said.

“Customer cash remains a detriment to used-vehicle retention, but with the year-over-year jump being so high, it is apparent that automakers are ignoring the potential negative impact on used values,” they said.

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