2012 Year-End Deals are Still Available as Bargain-Hunting Trend is on the
Rise, Reports Edmunds.com
SANTA MONICA, Calif. -- February 1, 2013
Many car buyers in January were able to secure the same great year-end deals
that were available in December, reports Edmunds.com, the premier resource for
car shopping and automotive information. According to Edmunds.com’s True Cost
of Incentives^® (TCI^®) report, new car incentives in January fell just 0.4
percent from December to an average of $2,372. By comparison, incentives fell
7.2 percent during the same December-to-January period one year ago.
“Car-shoppers will be glad to know that vehicle incentives haven’t dipped much
from December's year-end deals, as bargain-hunting is on the rise,” says
Edmunds.com Sr. Analyst Jessica Caldwell. “People are starting to notice their
paychecks are less than they were in 2012 because of the payroll tax, and that
will make good deals more attractive to anyone in the market.”
Average True Cost of Incentives^® (TCI^®) by Car Manufacturer
Manufacturer Jan-13 Dec-12 Jan-12 Jan 2013 vs Dec Jan 2013 vs Jan
Chrysler $3,117 $2,756 $2,447 13.1% 27.4%
Ford $2,544 $2,929 $2,788 -13.1% -8.8%
GM $3,655 $3,347 $3,171 9.2% 15.3%
Honda $862 $1,076 $1,060 -19.9% -18.7%
Nissan $2,544 $2,576 $2,417 -1.2% 5.3%
Toyota $1,769 $1,912 $1,426 -7.5% 24.1%
Industry $2,372 $2,381 $2,141 -0.4% 10.8%
Most notably, General Motors and Chrysler offered higher incentives in January
compared to December, up 13.1 percent and 9.2 percent, respectively. Honda and
Ford, meanwhile, lowered their incentives more than any other major automaker,
with spending down 19.9 percent and 13.1 percent, respectively, month to
month. Honda’s numbers are especially notable, since its projected average
incentive of $862 per vehicle in January would be its lowest single-month
average since October 2009.
Shoppers can always find the vehicles with the most compelling deals on
Edmunds.com’s True Market Value® Deals of the Month page.
Edmunds.com's monthly True Cost of Incentives^® (TCI^®) report takes into
account all automakers' various U.S. incentives programs, including subvented
interest rates and lease programs, as well as cash rebates to consumers and
dealers. To ensure the greatest possible accuracy, Edmunds.com bases its
calculations on sales volume, including the mix of vehicle makes and models
for each month, as well as on the proportion of vehicles for which each type
of incentive was used.
About Edmunds.com, Inc.
At Edmunds.com, we’re committed to helping people find the car that meets
their every need. Almost 18 million visitors use our research, shopping and
buying tools every month to make an easy and informed decision on their next
new or used car. Whether you’re at the dealership or on the go, we’re always
by your side with our five-star Edmunds.com iPhone and iPad apps and our
Edmunds.com Android App. Our comprehensive car reviews, shopping tips, photos,
videos and feature stories offer a friendly and authentic approach to the
automotive world. We’re based in Santa Monica, Calif., but you can connect
with us from anywhere by following @Edmunds on Twitter or by becoming a fan of
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Edmunds.com Corporate Communications
Jeannine Fallon/Aaron Lewis/Stephanie Mar
Media Hotline: 310-309-4900
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