Car Deals Vanished During the Pandemic. They’re Coming Back.
Car Deals Vanished During the Pandemic. They’re Coming Back.
Automakers and dealers are starting to offer discounts, low-interest loans and other incentives to lure buyers as the supply of cars grows.
For much of the last four years, automakers and their dealers had so few cars to sell — and demand was so strong — that they could command high prices. Those days are over, and hefty discounts are starting a comeback.
During the coronavirus pandemic, auto production was slowed first by factory closings and then by a global shortage of computer chips and other parts that lasted for years.
With few vehicles in showrooms, automakers and dealers were able to scrap most sales incentives, leaving consumers to pay full price. Some dealers added thousands of dollars to the manufacturer’s suggested retail price, and people started buying and flipping in-demand cars for a profit.
But with chip supplies back to healthy levels, auto production has rebounded and dealer inventories are growing. At the same time, higher interest rates have dampened demand for vehicles. As a result, many automakers are scrambling to keep sales rolling.
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Good news, but still far from over yet. Good luck to any family trying to get a Toyota Sienna minivan.
It’s a little weird when a Civic Type R has the same markup as a Telluride or Sienna
it's a Type R, not a base model Civic with a traditional 4-cyl engine. Isn't the type-R used for modification, racing, and supported by a whole secondary market?
I think maybe they meant it the other way around? Tuner/enthusiast trims have been getting high markups for decades. It's weird that the family cars are now getting the same markups.
I bought one two years ago. Managed to snipe it before it went up on the web site. It still hadn't been cleaned or detailed, but I didn't care with how scarce they are.
Nothing beats a Toyota for reliability these days