Lexus Increases Incentives by Over 40%
Great news for Lexus shoppers - as we predicted in July, Lexus has begun increasing their incentives dramatically in an effort to gain back market share.
Lexus had been the best-selling luxury brand in the U.S. for 11 consecutive years.
With sales down over 17% this year, that's no longer the case.
BMW now holds the title of best-selling luxury brand followed closely by Mercedes-Benz.
According to Edmunds.com, Lexus increased their incentives spending a whopping 41% last month to $2,667 per unit sold. This is the biggest monthly increase by any major automotive brand in recent history.
Unfortunately for Lexus, the competition isn't just sitting idly by. Mercedes is offering a $4,000 incentive to luxury car owners if they switch from a competing brand into a Mercedes E-Class or M-Class.
Lexus has four months to gain back some market share and build momentum for 2012.
Their pain is your gain, so now is a great time to be shopping for a new Lexus. We expect incentives to remain high for the remainder of the year.
My Recommendation for Car ShoppersTrueCar, Edmunds, and 1-800 Car Show are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
New York Tri-State Residents - Important:There is a new car leasing service called Carvoy, available to NY tri-state area residents, which I recommend you try - especially if you hate the stress of haggling with car dealerships. Carvoy provides pre-negotiated lease deals, calculated with taxes and all fees incuded so you know exactly what it will cost. Here is my list of Best Carvoy deals, updated each month.
- Gregg Fidan
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About: Gregg Fidan
Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
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