Record Sales Pace Partially Fueled by Record Incentives
The Detroit Bureau is reporting that even though June was a record sales month for many automakers, many of those sales were partly fueled with record incentives from the manufacturer.
Buyers could get up to $8,000 knocked of the price of a Kia K900 or up to $7,000 off of Ford hybrids or electric cars — even $8,000 for the 2015 Ford C-Max Energi.
Despite the higher-than-normal incentives, the Detroit Bureau reported that the Average Transaction Price for a new car in June was $31,848, up around 1 percent over last year.
Two automakers increased spending on their incentives by more than 30 percent over the same time last year — Nissan and Hyundai. As a percentage of incentives offered to ATP, Kia (11.7 percent), Hyundai (10.5 percent), Nissan (10.3 percent), GM (10.2 percent) and FCA (10.2 percent) were the biggest spenders last month.
As expected, many of the heavily incentivized cars were slow-moving models or cars with narrow appeal, which automakers could immediately offset by selling massive amounts of huge crossovers with equally huge margins.
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Salesman: Here's your key, sir. Welcome to the BMW family. You're ready for the boardroom. Her: looooooooooool I'm buying this for him as a birthday gift.
Truecar just aint the same since they got took to the wood shed a few years back. I used to find that the deals were in the 5-7 grand off range but now its no more than about 3-4k for every car. I know that Caddie has a bunch of money on the hood of the CTS per DW and Truecar only says 4 grand. I like them better when they weren't bullied by the dealers.
Late last month I leased a leftover 2014 i3. $ 7500 BMWNA incentive (takes place of federal incentive) 4955 Dealer discount 1000 BMW "Drive for Team USA" incentive 3000 Connecticut State CHEAPR EV incentive 500 BMW Car Club of America kickback. ------- $16955 off of a 49550 sticker (~34%) I am loving the car. It is comfortable, fast, and in a way it is more fun than my Z4 35is. I can charge it for free at work. I'd love it even if my lease payment weren't $134 a month with just $674 (plus security deposits) down. But I love it even more because of what a deal it is.
Kia is still offering $5k off the Optima Hybrid, which is the deal I got last year on a leftover 2013. $20k for a beautiful gas-sipper - same price as a penalty box. Can't complain about 25% off MSRP.