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- CPO incentives are now available for all brands. 9/23/2020
- Lease price points have been updated for Buick, Chevrolet, and Volvo. 9/17/2020
- Lease rates and residual values are available for all brands. 9/17/2020
- Incentives are available for all brands. 9/17/2020
- Incentives are now available for Kia and Nissan. 9/11/2020
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- Incentive Program Comparisons for New &
Preowned Cars and Light Trucks
The MIS Query tools are now updated with August 2020 New Vehicle Sales, Inventory, Incentives Spending and SAAR results.
Began advertising the 'Unplug to Unleash Sales Event' which provides a $1,000 purchase incentive ($500 dealer cash and $500 provided by the dealer) on all PHEV vehicles in its Western region from 9/17/2020 through 9/27/2020. Effiective 9/17/2020 on BMW division vehicles.
Enhanced special financing rates on he 2020 Giulia and Stelvio to 0.0% - 3.9% (from 1.9%-5.9%). Effiective 9/10/20 on Giulia and Stelvio.
Added $1,000 retail conquest cash on 2020 Pacifica and Pacifica Hybrid excluding Touring in its Mid-Atlantic and Southeast regions. Effiective 9/23/2020 on Pacifica and Pacifica Hybrid.
Added $1,000 bonus cash on 2021 Ram Pickup 1500 Crew Cab in the New Jersey and Pennsylvania portions of its Mid-Atlantic region. Introduced $1,000 regional conquest cash on 2020 Ram Pickup 2500 / 3500 in its Southeast region. Effiective 9/25/2020 on Ram Pickup 1500 and Ram Pickup 2500 / 3500.
Introduced 'Employee Pricing for All' on 2020 Gladiator. Raised 2021 Compass customer cash to $3,000 in its Denver, Midwest, Southeast and Southwest regions (from $2,000). Boosted 2021 Cherokee customer cash to $2,750 in its Midwest and Northeast regions (from $2,000). Rolled out $1,130-$1,500 lease bonus cash on select 2021 Compass in Denver, Midwest, Southeast and Southwest regions. Added $500-$1,860 lease bonus cash on select Cherokee in the Midwest and Northeast regions. Launched $500 regional retail bonus cash on 2020 Renegade in its Southeast region. Added $2,000 lease bonus cash on 2020 Gladiator excl. Rubicon / Mojave. Introduced $500 bonus cash on 2021 Cherokee Latitude Lux and Compass Latitude in the New Jersey and Pennsylvania portions of its Mid-Atlantic region. Effiective 9/18/2020 on Cherokee, Compass, Gladiator and Renegade.
- August 2020 Incentive Spending Flat as Low Inventory Continues to Plague Manufacturers
With dealer inventory at its lowest level in years, manufacturers continued to be conservative with incentive spending in August 2020. Spending for the month came in at $4,010/unit, essentially flat from July 2020 and up slightly more than 1% from the same period a year ago. Incentive spending in August was nearly $300/unit lower than it was at the start of the pandemic. Spending in September will be a tug of war between enhanced Labor Day offers and a slowly increasing mix of 2021 models. Given that Labor Day weekend is included in September 2020 when it wasn't during the same period a year ago we expect spending for the period to be higher year-over-year once again but more than likely fairly flat versus last month. If manufacturers are finally able to get the inventory situation under control, look for spending to begin to creep higher in late fall 2020.. Motor Intelligence on 09/01/2020
- U.S. Certified Pre-Owned Vehicle Sales Rise in July 2020
Certified Pre-Owned vehicle sales continued their upward trajectory in July 2020 with an estimated 254,982 units sold in the United States, up 7.8% from July 2019. Despite the gain in July, CPO sales are still down 8.8% year-to-date. During the month Acura, Subaru and Toyota all posted new all-time highs. Off-lease returns, which stalled in March and April, are accelerating as extensions expire, building supply. The lack of new vehicle inventory has created strong demand for used vehicles. Motor Intelligence on 08/04/2020
- Dwindling Dealer Inventory Causes Manufacturers to Cut Back on Incentive Spending in July 2020
The recovery in U.S. light vehicle sales following the first wave of the pandemic has caused new and used vehicle dealer inventory to become very tight as manufacturers scramble to replenish it. Motor Intelligence estimates that new vehicle incentive spending averaged $3,987/unit in July 2020, 4.5% lower than June 2020, but still 4.2% or $161/unit higher than July 2019. Despite the cutback by automakers, incentive spending set a July record. This increased spending on incentives was offset by higher vehicle pricing, caused by MSRP hikes and a continued shift in mix from cars towards light trucks. Seasonally, incentive spending is typically fairly flat in the late summer period. Barring any major COVID-related shutdowns, manufacturers should able to replenish dealer inventory by the end of the year. If that happens, we expect incentives to rise they typically do in November and December. Motor Intelligence on 08/03/2020
- Certified Pre-Owned Vehicle Sales Soar in June
The CPO daily selling rate was 10,463 in June 2020, the highest ever and the first time over 10,000. June CPO sales were the 2nd highest in history at an estimated 261,586 units following March 2019's 265,881. While quarterly sales were adversely affected by the pandemic, several brands still hit new all-time highs, including Audi, Fiat, Maserati, Mazda, Porsche, Subaru, Volkswagen and Toyota (near-new high). CPO sales benefited from low new-car inventory levels due to production cuts, attractive CPO financing offers, pent-up demand and government stimulus checks. Used car inventories likely increased as new vehicle lease extensions from March and April expired and some near-new 2019 vehicles were converted into used car inventory. Motor Intelligence on 07/16/2020
- June Incentive Spending Continues Trend of Lower M-O-M, Higher Y-O-Y Numbers
Once again, automakers eased off on U.S. light vehicle incentive spending slightly in June versus the prior month mainly in response to low inventory of in-demand vehicles, particularly pickup trucks. Motor Intelligence estimates that spending averaged $4,090/unit in June 2020, down 2.0% from May 2020, but still 6.9% or $445/unit higher than June 2019. Looking forward, incentive spending is typically flat to slightly higher from June to July. We expect that trend to continue this year. As automakers ramp up production and inventory levels begin to climb we may see spending begin to rise month-over-month once again towards the end of 2020. Motor Intelligence on 07/02/2020
- U.S. auto sales gain pace in September as demand recovers
The pace of U.S. auto sales is expected to rise 3.3% in September from the prior month, helped by strong consumer demand and the Labor Day holiday, industry consultants J.D. Power and LMC Automotive said on Friday. The seasonally adjusted annual sales pace for September is expected to be 15.7 million vehicles, up from 15.2 million vehicles in August, but down from 17.3 million units a year earlier, the consultants said... Reuters on 09/25/2020
- Volvo Cars CEO says demand holding up despite COVID spike
Swedish carmaker Volvo Cars expects to hit its forecast of roughly flat sales year-on-year in the second half of 2020 even as a recent a surge in cases across Europe makes the outlook more uncertain, Chief Executive Hakan Samuelsson told Reuters... Reuters on 09/24/2020
- All 2021 Jeep Purchases Now Get Three Years of Free Maintenance
The Jeep brand will be 80 years old in 2021. To celebrate, the automaker is expanding its Wave Customer Care program. Now everyone who purchases a new 2021 Jeep will get this perk. The program gives three years of free maintenance, 24/7 phone and online support, trip interruption and first-day rental coverage, and, for the adventurous, VIP access to "select exclusive Jeep brand events," probably including some that involve off-roading. The deal includes all 2021 Jeep vehicles... Car and Driver on 09/24/2020
- California vows to ban sale of new gasoline-powered passenger vehicles in 2035
California plans to ban the sale of new gasoline powered passenger cars and trucks starting in 2035 in a dramatic move to shift to electric vehicles and reduce greenhouse gas emissions, Governor Gavin Newsom said on Wednesday... Reuters on 09/23/2020
- VW ID4's opening gambit: 250-mile range, $379 leases, free charging
Volkswagen's ID4 battery-powered compact crossover will hit U.S. dealerships late this year with an estimated 250-mile range from its 82-kilowatt-hour battery pack, three years of free charging and a $379-a-month lease price to announce its presence. The long-awaited U.S. start to VW's $50 billion-plus investment in electrification, the ID4 will go on sale first in California and other zero-emission vehicle states. It will carry a sticker price of $41,190 including shipping but excluding any federal and state incentives... Automotive News on 09/23/2020
- Pre-production 2021 Broncos roll off assembly line, first Broncos since 1996
...An estimated 2,000 factory workers began the official build of the first two pre-production models of the all-new 2021 Ford Bronco SUV at the Michigan Assembly Plant in Wayne early Tuesday and those white and silver vehicles rolled off the assembly line at 7:50 a.m. and 9:45 a.m. Wednesday, Ford confirmed... Detroit Free Press on 09/23/2020
- Here’s the email Elon Musk sent Tesla employees with 10 days left in Q3
On Sunday evening, Tesla CEO Elon Musk sent an email to all employees at the electric vehicle maker saying the company would have to “rally hard” to hit “record deliveries” for the quarter... CNBC on 09/21/2020
- Ford's CEO-to-be Jim Farley bets big on commercial vehicle 'powerhouse'
Ford Motor Co.'s CEO-in-waiting is betting the future profitability of the Dearborn automaker lies in a rich but under-appreciated side of the industry: the trucks and vans it sells to business customers. "Our commercial vehicle business is a powerhouse," Jim Farley told The Detroit News earlier this year. "And we have the opportunity to go from selling these powerhouse products to building a whole digital business of services and digital data that these customers who love us already are ready for. The trust and scale that Ford has with commercial customers is our greatest asset.".. The Detroit News on 09/21/2020
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