Almost a month ago, I wrote that the Ford Focus Electric was the cheapest car in North America. Because federal, state, and local incentives are rolled into the price of a lease, along with the sizable discounts applied by the manufacturer, a $30,000 dollar EV can easily be priced below a $16,000 internal combustion model. Those piling discounts on other models have dethroned the Focus as America’s cheapest car.
Fiat’s 500e can currently be had for roughly the same price as a decent pair of sneakers, continuing the trend of bargain basement pricing on small electric cars. At $69 per month for 36 months with no money down, it’s also a better deal than the shoes — which can typically only manage a few hundred miles before becoming a tattered mess. With some evening reprieves to recharge, the Fiat can top that in a week with only the slightest hint of tread-wear. However, this incredibly low leasing rate for the $33,00 EV isn’t even the best deal of the last few months. (Read More…)
The pickup is as much of a stereotypical American icon as gun ownership and throwing things away. Last year was a particularly good one for trucks, with Ford F-Series sales reaching pre-recession volume and a 10-year high and Ram recording a seventh year of growth. However, with sales peaking for the other domestic labels, General Motors’ share of the market shrunk.
What’s the solution to whatever consumers find lacking with GM’s product? A price war, of course. While Ford Motor Company and Fiat Chrysler Automobiles are scaling back, GM upped incentives from last February by 56 percent for the Chevrolet Silverado and 82 percent for the GMC Sierra. With the pickup segment being so important in North America, nobody wants to lose ground. Aggressive discounts are often the only way to overwhelm brand loyalty, but the practice is also guaranteed to eat into profits while annoying the competition. (Read More…)
First it was Hyundai flinging special discounts in the direction of imminently carless Volkswagen diesel owners. Now Volvo has added its name to the list of automakers attempting to woo this unique crop of vehicular nomads.
The approval of Volkswagen’s massive settlement deal with U.S. owners and environmental regulators on Tuesday is apparently a sales opportunity not to be missed, but Volvo is approaching it from a different direction than Hyundai. (Read More…)
It’s increasingly looking like 2015 will be a high-water mark for U.S. auto sales, with September sales stats showing a cool-down in the new car market.
Faced with a long-predicted slump — the duration of which is still anyone’s guess — and growing competition over remaining market share, automakers have boosted incentive spending to its highest level since the depths of the recession. (Read More…)
With Nissan Leaf sales falling like autumn foliage, a few enterprising EV fans hope to reverse the trend (or at least slow it) through group discounts.
After a Colorado group negotiated a 248-vehicle Leaf purchase for the you’re kidding me price of $12,130 per unit, other groups now wants a piece of the cheap Leaf action. In Montreal, 2,500 Quebec residents just signed up for a reduced group price, while a Wisconsin group negotiated a similar discount. (Read More…)
A few days ago, we reported the Russian government was considering bringing back its cash for clunkers program to help spur domestic auto sales in the face of Western sanctions. The government as since decided to go forward with the scheme.
GM’s Susan Docherty, who is in charge of Chevrolet Europe, is shocked by GM alliance partner PSA Peugeot Citroen. PSA, along with Fiat, are producing “very scary numbers” with discounts of as much as 30 percent off gross sale prices, Docherty told Bloomberg. Opel’s numbers can be even scarier. (Read More…)
Sergio Marchionne accuses Volkswagen of exploiting the European crisis to gain market share by offering aggressive discounts, the New York Times writes. “It’s a bloodbath of pricing and it’s a bloodbath on margins,” the Fiat and Chrysler CEO told the paper. (Read More…)
The Chinese stock market is way down. Real estate speculation had reached its zenith a while ago, and prices are on a downward trajectory. So are prices of luxury cars. Now is the time to get great deals on a BMW, or a “Benz,” as they call a Mercedes in China. Dealers are killing each other with discounts to move the high-end metal. Says China Daily:(Read More…)
Why does Warren Buffett have a headache? For quite a while, China’s BYD had been nothing but a miracle. Now, the Buffett-backed wunderkind turns outcast. To move their cars, BYD slashes prices down to the bone. (Read More…)
Ford Europe will swallow a tried and trued antidote against flagging car sales: Heavy discounting. Yesterday, Ford had announced – in a rather roundabout way – that their European sales had dropped a breathtaking 17 percent in April. Putting cash on the hood is no surprising move. Wouldn’t there be another detail. (Read More…)