Not a Good Time to Buy Large SUVs Right Now
GM is attempting to add either an extra day of manufacturing or a new shop to augment the current facilities producing the Chevrolet Equinox and the GMC Terrain. Supplies are currently at three weeks or less for both models for most dealers.
This is bad news if you're in the market for one of these vehicles. When there's high demand and low supply, negotiating a good deal becomes nearly impossible.
The production increases would likely add 40,000 more units on an annual basis to improve dealer stock levels.
Ford is currently experiencing similar growth in demand for the Expedition and Lincoln Navigator models, with sales jumping by 50% or more in the last month, according to industry figures. The Expedition's inventory had declined to a 31-day supply, and the Navigator's to a 24-day supply. When supplies are below 60 days, don't expect to get a great deal.
The increase in demand may make it worthwhile to wait before considering purchasing a full-size SUV. Dealers will likely be able to increase prices or sell vehicles at or near MSRP until their supply is replenished by automakers later this year.
My Recommendation for Car ShoppersTrueCar No-Haggle, CarsDirect, and NADAGuides 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.
- 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