Tuesday, March 22, 2005

 

New Car Discounting

Edmunds weights in with the widely varying discounts on newly-introduced models:

Not all new car models first introduced in the 2005 model year are faring as well in others in today's competitive marketplace, according to the Edmunds Price Index released today by Edmunds.com, the premier online resource for automotive information.

Of the new introductions, Land Rover LR3, Chrysler 300 and Hyundai Tucson sold at the smallest discounts -- 0.1%, 2.8% and 3.6% below sticker price, respectively. Pontiac G6, Buick LaCrosse and Chevrolet Cobalt had the highest average discounts: 19.9%, 14.7% and 10.4%, respectively. Overall, new models averaged a 9.0% discount from MSRP in February 2005, compared with the industry average discount of 15.0%.

I think the word for GM is "owned". While the lack of discounting on the Chrysler 300 shouldn't come as a surprise, and anyone dumb and rich enough to buy a Land Rover probably doesn't care much for dickering, I'm quite surprised that the Hyundai Tuscon is selling so close to sticker. Perhaps GM could learn a thing or two about realistic pricing from the Koreans?

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