According to the latest reports, it seems that now it's pretty optimal to be doing some new car shopping. That's because the incentives are flocking like the salmon of Capistrano.
In other words, there's a lot of cash on the hood.
Don't believe me? Fine. The folks over at Automotive News have done their homework and are reporting that incentive spending as a percentage of vehicle MSRPs has ballooned to 11 percent. This is the highest it has been since 2008-2009.
December 2019 incentives averaged a staggering $3,944/unit across the industry.
Although we understand that incentives can come with many strings and vary region to region and state to state, we wanted to hear:
What's the BEST deal you've come across SO far in recent weeks?
Hopefully by crowdsourcing this information we can help some folks land some great deals in the near term.
[EDIT: Yes, that was a Dumb & Dumber reference up top.]
With retail demand softening, in part because of rising new-vehicle prices, automakers have been forced to hike incentives to woo consumers.
Automakers have also been saddled with higher-than-normal supplies of outgoing model-year vehicles, prompting bigger deals on remaining 2019 stock, analysts say.
ALG said December incentives averaged $3,944 across the industry, up 3.6 percent from December 2018, with the Detroit 3 each dangling average discounts of $4,600 or more last month...
...Overall, incentive spending as a percentage of MSRP -- a closely watched measure of financial discipline -- also remains close to 11 percent, the highest level since the 2008-09 recession...
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