Car Makers Roll Out the Rebate

Rebates, we’ve got rebates.

Well, we don’t, but the auto industry sure does. As a cooling U.S. economy takes a bite out of new-car and truck sales, car makers are giving back cash and slashing interest rates and lease fees to help spur business.

In the last half of May, the various incentives averaged $2,600 per vehicle, according to CNW Marketing/Research, an Oregon firm that watches this sort of stuff.

“It’s all about moving product,” says CNW Vice President Art Spinella. “Just about everything has some sort of incentive on it.”

Even Mercedes-Benz, which hasn’t had a rebate program since 1995, is offering customers as much as $1,400 cash back for trading in their old Benzes on new ones.