Bigger Deals and Incentives May Come Soon
Comparing September 2010 sales to sales in September of 2009, GM saw its new vehicle sales in the U.S. increase 12% to 173,031.
Ford saw its sales jump 46% to 160,375, and Chrysler sold 100,077 vehicles, up 61%.
But it may not all be good news.
Fleet sales - not retail sales - seems to be driving the market surge. (Fleet sales are vehicles that are sold to rental fleets and corporate clients).
Collectively, General Motors, Ford, Toyota, Chrysler, Hyundai-Kia and Nissan sold 2.3 million units in the third quarter, up 1 percent.
But combined retail sales fell 4 percent to 1.8 million.
What does this mean for car shoppers? Fleet sales can only sustain the auto market for so long.
To boost retail sales, automakers will have to offer greater discounts and incentives.
Our recommendation is to consider waiting a few months before purchasing (unless you're considering a leftover model). You may end up saving thousands.
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