This Memorial Day kicks off a buyer’s market for new cars
CNN
Memorial Day weekend is shaping up to offer some of the best deals on new cars in years. The discounts vary widely by manufacturer and type of car – don’t expect too much off on a Toyota SUV, for example. But it’s a good time to be in the market for an electric vehicle.
Memorial Day weekend is shaping up to offer some of the best deals on new cars in years. The discounts vary widely by manufacturer and type of car – don’t expect too much off on a Toyota SUV, for example. But it’s a good time to be in the market for an electric vehicle. The new car market is finally a buyer’s market again. For decades, the holiday weekend was a great time to buy a new car, with dealers competing to sell out the last of the previous year’s models to make room for incoming new cars. It hasn’t been that way for a while, though. Covid lockdowns disrupted parts supply chains for car factories, making new models often hard to find. It got so bad that, for a while, almost all cars were routinely selling for above the manufacturers suggested retail price, or MSRP, something that’s normally rare. Deep discounts? They were practically unheard of. Not this year. The auto industry is back pumping out new cars, and dealers are discounting again. Currently Ford dealers are offering average incentives of up to $1,556 on the Ford Bronco, more than six times what they were offering last year, according to data from Cox Automotive. On the GMC Sierra pickup, dealers are offering almost $6,000 on average in incentives, according to Cox.
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