Last month, consumers paid more when shopping in the U.S. auto market. This is according to auto information company Edmunds.com. They paid more and have fewer choices, Edmunds said.
For the month of May, customer that bought a vehicle, paid about $180 more then in April, $310 more for then the month of February, and $410 more then May 2010. Overall incentives were at the lowest last month since October 2005, and incentives fell for compact -23% and subcompact -14% cars more than the average incentives for any other segment between April and May, according to Edmunds.
South Korean automakers turn out to be the biggest winners in Edmunds’ analysis of the monthly sales data released by the industry this week.
Edmunds said that the joint sales for sister companies Hyundai and Kia topped Honda and placed them fifth on the U.S. sales list behind fourth place Toyota. Hyundai has broken its monthly sales record five months straight. Kia has posted a 44.8% sales increase year to date.