Car Sales Have Fallen Off a Cliff
For those planning on purchasing a car, now is looking to be a much better time to buy. From the beginning of October to the end of this year, you can expect to find sweet incentives on brands such as Chrysler, GM, Honda, and Toyota. With rates continuing as they are, automakers should go to great lengths to attract consumers.
Here is how some top manufacturers are performing when it comes to sales:
Chrysler - After going bankrupt, Chrysler sales were down 42% compared to last September.
Ford - Ford's sales decreased only 5% last month, thanks to its newly redesigned Taurus. This year, however, hasn't been so great - its sales have been down 22% compared to the year before.
GM - GM experienced a decline of 45% last month, mainly because of a shrinking inventory after Cash for Clunkers.
Honda - Honda sales were down by 23%. The only model that showed any increase was the Pilot.
Hyundai - One of the few manufacturers that continues to do well in this market. Hyundai sales increased 27% last month.
Nissan - Their sales decreased by 7%, although some of its models - the Nissan Maxima, Pathfinder, 370Z, Frontier, and Infiniti QX56, for example - actually saw an increase.
Subaru - Subaru increased one percent over last September, thanks to its redesigned Outback and Legacy models. Its success is continuing well into 2009, with an increase of 10 percent.
Toyota - Even though its Lexus division went up by 7 percent last month, Toyota's overall sales have decreased 16 percent.
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:
Step 1 Get Prices From My Trusted NetworkSelect the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Step 2 Get Prices From TrueCar / CarsDirectTrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.
Step 3 Complete my ChecklistFollow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid