LAST AUTO NEWS – AS INDUSTRY STRUGGLES, SOME NEW CARS SELLING BELOW STICKER PRICE
Last Auto News –
Sticker price, $27,235. Actual auction price, about $18,000. According to the Wall Street Journal, that’s what Oregon acclamation official Eric Sample paid for his new Mazda MX-5 Miata. And the accord is hardly unusual.
“Plunging auto sales are authoritative this one of the affliction times anytime to advertise cars,” the Journal reports, “But if you’re one of the almost attenuate consumers arcade for a new vehicle, you’re already in the driver’s seat.” The recession, and bad account about the auto industry, accept drive buyers out of auto showrooms. Dealerships, abounding adverse the blackmail of cease as above automakers attending to trim their sales networks, are larboard with “unusually top inventories they wish to advertise in a hurry, so buyers accommodating to analysis amount trends, appointment abundant dealers and accommodate assertively can aces up a set of auto at discounts exceptional of just a few months ago.”
Kicking Tires notes, “In the accomplished six months, the boilerplate transaction amount for commuter cars has collapsed 2.9%, to $27,941, while the boilerplate cash-back accord rose 2.3%, to $2,628, according to J.D. Power and Associates.”
Economist Paul Taylor of the National Automobile Dealers Association told the Journal that “GM has 111 days’ account of inventory, Chrysler has 114 and Volkswagen AG has 115.” In bigger times the accepted industry ambition was 60 days. “With inventories so high, car makers are alms bigger incentives than usual, and dealers are sometimes accommodating to let cars go even at a loss.”
For instance, Jesse Toprak, an analyst with Edmunds.com, told the Journal that the amount of a new 2009 Toyota Prius could anon “be $8,000 lower than six or eight months ago,” as Toyota introduces a redesigned 2010 model.
Kicking Tires credibility out that “the accepted bread-and-butter bearings will become even added of a car buyer’s dream if Congress passes the cash-for-clunkers legislation that’s currently pending.”
Related with this news LastAutoNews.com's other car news
