Aggressive incentives didn't prevent new-vehicle demand from falling by double digits in March, but J.D. Power believes they allowed the Detroit 3 to take their largest slice of new-vehicle sales since 2006.
Since launching a wave of incentives that includes 0 percent interest rates on seven-year loans, the Detroit 3 captives have seen their share of financed new vehicles skyrocket 60 percent.
Ford Motor Credit Co., GM Financial and Santander Consumer USA's Chrysler Capital business originated 31.8 percent of new-vehicle financing from mid-March to April 8, according to J.D. Power, up from 19.9 percent in the weeks prior. All other captives, which include banks' captivelike relationships, comprised 38.4 percent of the market.
Tyson Jominy, vice president of data and analytics at J.D. Power, said origination shares for the Detroit 3 may have been even higher had the automakers not offered to extend leases.
"Lease buyers are staying out of the marke…