Car Incentives Down for New Cars
So, I have some good news and some bad news.
The good news is mainly for car manufacturers and dealers: January was a very strong sales month. According to an article on The Truth About Cars, GM and Ford both surprised analysts with 16% and 22% increases respectively, while Toyota also saw a large increase of 26.6%. Other companies also faired very well in January, such as Chrysler with a 16% jump, and Honda with a 13% increase.
Now for a bit of bad news - car incentives are declining. According to TrueCar.com, the average incentive for passenger vehicles was $2,274 in January 2013, a decline of $206 (8.3%) from January 2012, and a decrease of $317 (12.2%) from December 2012.
But not to worry, although the industry overall has been reducing incentives, that doesn't mean you can't get a great deal on the car you want. When you're ready to negotiate, I recommend turning to the to find the very best deals on any new vehicle.
|Vehicle||Jan 2013||Dec 2012||Jan 2012||% Change Jan 2012 to Jan 2013||% Change Dec 2012 to Jan 2013|
|Chrysler (Chrysler, Dodge, Jeep, Ram, Fiat)||$2,973||$3,102||$3,160||-5.9%||-4.2%|
|Ford (Ford, Lincoln)||$2,643||$2,792||$2,886||-8.4%||-5.3%|
|GM (Buick, Cadillac, Chevrolet, GMC)||$3,150||$3,522||$3,071||2.6%||-10.6%|
|Honda (Acura, Honda)||$1,194||$1,657||$2,127||-43.9%||-27.9%|
|Nissan (Nissan, Infiniti)||$2,084||$2,629||$2,764||-24.6%||-20.7%|
|Toyota (Lexus, Scion, Toyota)||$1,660||$1,930||$1,717||-3.3%||-14.0%|
|Volkswagen (Audi, Volkswagen)||$2,276||$2,385||$2,171||4.8%||-4.6%|
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