(August 2, 2012) SANTA MONICA, Calif. — Car incentives remained relatively stable in July reports Edmunds.com, but the stability of General Motors stands out the most, following the company's heavily publicized marketing program launched earlier last month.

According to Edmunds.com's True Cost of Incentives (TCISM), GM incentives fell 0.3% from June to July, despite launching Chevy Total Confidence, which promises "a great deal on your Chevy, with no need to negotiate." Surprisingly, GM's spending on Chevrolet alone is down even more, from $3,328 in June to $3,176 in July (-4.6%).

"Savvy consumers don't see tremendous value in the Total Confidence program," says Edmunds.com Senior Analyst Jessica Caldwell. "The Total Confidence pricing is similar in many cases to our True Market Value pricing — and for some vehicles, it was even higher. So, depending on the situation, a consumer could have gotten a better deal before the program started."

The biggest change in incentive spend came from Nissan, climbing 18.4 percent month over month thanks mostly to a surge in incentives (+22%) on its luxury brand Infiniti. Overall, Edmunds.com's TCISM data shows that the auto industry spent $2,236 per vehicle this month, up 0.6 percent from June, but down 6.2 percent from July 2011.

Edmunds.com's monthly True Cost of Incentives (TCISM) report takes into account all automakers' various U.S. incentives programs, including subvented interest rates and lease programs, as well as cash rebates to consumers and dealers. To ensure the greatest possible accuracy, Edmunds.com bases its calculations on sales volume, including the mix of vehicle makes and models for each month, as well as on the proportion of vehicles for which each type of incentive was used.