Work Truck Logo
MenuMENU
SearchSEARCH

New-Car Cash Rebates Fall in June

by Staff
July 22, 2004
2 min to read


Cash incentives for new vehicles shrank in June compared with the same month a year ago. According to actual retail transaction data from the Power Information Network (PIN), an affiliate of J.D. Power and Associates, the average new-vehicle incentive amount in June was $2,690, down almost 6.6 percent compared to May and down 7.6 percent compared with June 2003. However, incentives on large new SUVs bucked the downward trend. Rebates for large SUVs averaged $4,774 in June, the highest among vehicle segments, according to Edmunds.com. The average incentive for June 2003 was $3,829. Ford and GM are offering some of the most generous incentives. In July GM is offering $5,000 rebates on 15 truck models, including the Suburban. While incentive amounts dropped in June, average new-vehicle retail prices (taking rebates into account) did not increase. The average price consumers paid for a new vehicle in June was $25,206, with new cars selling at an average of $22,537 and new trucks at $27,329. New vehicles sold in June sat on the dealers' lots an average of 68 days, 4.6 percent longer than in May and nearly eight percent longer than vehicles sold in June 2003. Used vehicle prices in June increased to $15,568, up 3.2 percent compared to June 2003. Used cars sold for an average price of $13,973, a 2.6 percent increase from a year ago. Used trucks sold for an average of $17,454, a 4.2 percent increase. Meanwhile, PIN found the percentage of consumers who were “upside-down” on their loans (they owe more than the vehicle is worth) in June was considerably higher than it was a year ago—over 35 percent compared to 18.8 percent from June 2003.

More Small Fleet

SponsoredMarch 9, 2026

Boosting Last-Mile Fleet Uptime, Safety, and Value with AI Vehicle Inspections

AI-powered inspections are transforming last-mile fleets by replacing manual checks with highly accurate automated scans that detect defects in seconds. By giving fleet operations visibility into the daily condition of their vehicles, you can identify trends over the vehicle’s lifecycle that enable improved procurement decisions, route management, driver training and accountability.

Read More →
SponsoredMarch 1, 2026

How One Fleet Cut Motor Pool Costs by $45K With Smarter Key Control and Automation

Still managing your motor pool with spreadsheets and manual approvals? Loyola University replaced outdated processes with automated fleet management, eliminating overtime and saving up to $50,000 annually. See how they did it.

Read More →
SponsoredMarch 1, 2026

Artificial Intelligence in Field Service: North America

48% of field service leaders are investing in AI to manage customer communication and self-service. Get the latest on how fleets are using AI and thinking about the future.

Read More →
Ad Loading...
SafetyFebruary 4, 2026

Five Ways Seat Belts Help Prevent Injuries

There are five ways seat belts protect occupants from injuries, according to the Tennessee Department of Safety and Homeland Security.

Read More →
SponsoredJanuary 14, 2026

It’s here: The 2026 Fleet Technology Trends Report

What does AI mean for fleets? Get the answer — and learn other top tech trends.

Read More →
Wreaths Across America graphic highlighting the role of small fleets in delivering wreaths to honor veterans, featuring wreath icons and the American flag.
Small Fleetby Lauren FletcherDecember 8, 2025

Small Fleets, Big Impact: How Independent Drivers Power Wreaths Across America

Check out how small fleets and independent drivers power Wreaths Across America each December and why their impact matters more than ever.

Read More →
Ad Loading...
A stressed person covers their face, illustrating that 65% of small fleet managers handle all operations alone, according to a Vehicle Management Systems (VMS) survey.
Small Fleetby StaffNovember 12, 2025

VMS Survey Finds 65% of Small Fleet Managers Run Operations Alone

A new VMS survey shows small fleet managers are stretched thin, with most handling operations solo and eager to adopt digital tools for relief.

Read More →
Safe Driving on Halloween over spooky fall road
Safetyby StaffOctober 20, 2025

Tips for Driving Safely on Halloween Night

This video features a reminder from the Connecticut Department of Transportation (DOT) and the Connecticut Police Chiefs Association, urging drivers to prioritize safety this Halloween.

Read More →
VMS Co-CEO David Prusinski highlights the company’s AI-powered virtual fleet manager designed to improve uptime and reduce operating costs for fleets.
Green Fleetby Lauren FletcherOctober 6, 2025

AI, Access, and Uptime: VMS’s Next Chapter with David Prusinski

VMS’s new Co-CEO, David Prusinski, shares how an AI-first approach will give small fleets and repair shops the tools to compete like big players.

Read More →
Ad Loading...
Photo of tire tracks and winter scenes.
Small FleetMay 24, 2025

Fleet Managers Share Winter Prep Tips: It's Never Too Early!

Three fleets share best practices to prep vehicles for winter and prevent downtime when the cold sets in.

Read More →