Boosting Holiday Sales: US New Vehicle Dealers Offer Enhanced Incentives
Boosting Holiday Sales: US N...
Subscribe to Newsletter

Boosting Holiday Sales: US New Vehicle Dealers Offer Enhanced Incentives

20 December 2023
2942
2 min.
9
Boosting Holiday Sales: US New Vehicle Dealers Offer Enhanced Incentives

Winter Wheels

American car dealers rev up the winter sales season. This year-end, they are rolling out generous incentives and discounts to clear out older vehicle stocks and make way for the exciting new models arriving in the new year.

For over four years, year-end sales have been a tradition, with automakers typically offering minimal discounts. This strategy has helped dealers clear inventory, but this year is different. The average transaction price (ATP) for new vehicles in November 2023 dropped by 1.5% to $48,247 compared to the previous year, according to Kelley Blue Book. In 2019, the ATP for the same period was $39,203.

Inventory Overdrive

Adding to the excitement, inventory levels are currently at their highest since the early spring of 2021. Dealers and automakers are making a sprint to create space for the influx of new models set to hit the showrooms by January.

Offers

Automakers are already making their move, slashing prices and offering enticing incentives to attract more buyers to the showroom floor. In November alone, new-vehicle sales incentives skyrocketed by 136% year over year, signaling a shift from a seller's to a buyer's market, according to Cox Automotive. Average incentives are now circling around the $2,500 mark.

Brand Spotlight

Stellantis-owned Jeep takes the lead with the highest inventory at 128 days at the start of December, according to Cox Automotive. To sweeten the deal, Jeep is offering substantial discounts on the Gladiator truck and Compass crossover—$8,257 and $5,851 off their sticker prices, respectively.

More Brands, More Savings

It's not just Jeep; other brands like Kia, General Motors' Chevrolet, Mercedes, and Hyundai are also joining the festivities, offering holiday discounts on select vehicles.

From High Prices to Savings

In recent years, new vehicle prices reached all-time highs, prompting some customers to consider used options. Despite fewer units sold, automotive retailers and carmakers enjoyed hefty profits, thanks to the surge in vehicle prices.

Companies9 in the news

Section:
Rating companies
Tesla
14 Mention
Instagram
14 Mention
Walt Disney Company
12 Mention
Netflix
11 Mention
JP Morgan Chase
10 Mention
Amazon
10 Mention
Ford Motor Company
10 Mention

NEW YORK NEWS

News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Population
8118495793
Died this year
18268823
Born this year
44944538