As the calendar transitions from summer to autumn, luxury brands and large trucks are making a big push to capture new buyers.
TrueCar is reporting high incentives, top discounts and price drops on many large trucks and luxury models, making this a good time to buy.
“Typically, because of seasonality, the end of summer is really the best time to buy large trucks and luxury cars,” said Jesse Toprak, VP of Industry, Trends and Insights for TrueCar.com. “Dealers are trying to clear out their aging inventory and make room for the next model year so they have a great deal of flexibility. If consumers are in the market for a vehicle in either of those two segments, now is absolutely the time to get a great deal.”
Consumers who have been holding out on better pricing for luxury cars will get their wish this month. The luxury category has seen the biggest drop (month over month) among all categories, with an average
drop of $1,480. Luxury SUVs are third on the list with a drop of $1,150. Large cars, which are second, are seeing a drop of $1,171.
— The best day of the month to buy a car, as projected based on historical sales and short-term forecasts is the Thursday prior to Labor Day, September 2nd, 2010, jusedging out Sunday, August 29th at an average potential discount* of 11.2%. September 14th is projected as the worst day of the month to buy, with a projected discount of 8.3%.
— For the second consecutive month, 2010 model year, domestic makes including Chevrolet, Ford, Mercury, and GMC remained on top of the Top Discounts list, with Lincoln replacing Chrysler in the final spot.
Foreign automakers including Toyota, Honda and BMW, alongside domestic brands GMC and Chevrolet, are offering the biggest discounts on 2011 makes.