Chrysler trimmed incentives in November

Chrysler reduced incentive spending last month, looking to conserve precious cash. According to figures compiled by Edmunds.com, the average November spiff of $3490 was $205 lower than October 2008, but up $176 from November 2007 as the competition for scarce sales remained fierce.

Ford was the big spender in November with an average of $3,731 on the hood of each vehicle sold at retail. That was down $155 from October, but an increase of $565 over last year.

General Motors spent the least of the Detroit automakers. Its average spiff of $3,248 was $420 less than it offered in October and $203 more than it paid in November last year.

Honda, Nissan and Toyota all increased their incentives last month with Toyota spending hitting a record $1,908 per vehicle, up $322 from October and more than double the $822 it offered in November 2007. Nissan spent the most at $2,347, up $552 from October and $193 from last year. At an average of $1,130, Honda spent the least of the Big 6, but even that figure is up $81 from October and $313 from November 2007.

The industry-average incentive was $2,625 last month, a decrease of $52 from October but an increase of $346 compared to November 2007. On average, Japanese automakers increased incentives while European and Korean companies cut back slightly.