The day before the New Year is the best time to buy a new car
Autumn used to be the time to buy a car. The best time to buy a new car is now, according to Forbes. Dealers are eager to beat not only that artificial calendar change, but the actual quota demands at the end of the month and at the end of the year. However, for the past few years, dealers have had inventory. Manufacturers have always battled supply chain issues, so not much this year.
Still, looking at the advertisements for the local car dealerships, it looks like there are a few new cars waiting to be scooped up. Dealers only had a week’s worth of cars in the lot earlier this year, but now major dealer groups report that dealers have 53 days worth of his inventory. That means it should be readily available for 2023 vehicles as well.
The dealer has a car they want to sell right now
Dealers own more cars than they did a year ago, according to the St. Louis Federal Reserve Bank, which tracks economic indicators such as car inventories. The dealer has sold 110,000 of his vehicles compared to this time last year. As of early 2021, dealerships still had thousands of vehicles for sale, so Time wanted his machine. Regardless, the tide seems to be turning for car buyers.
Inventories are increasing, especially for American brands
In general, Asian and European brands had the lowest inventories, according to a new report from Cox Automotive. Kia, Toyota, Subaru, Honda and Hyundai had the lowest inventory. Land Rover, Lexus Acura and Porsche inventories were also down. But American brands are catching up with demand. Stellantis, the parent company of Dodge, Ram, Jeep and Ford, had the most inventory. Lincoln, Volvo and Infiniti dealers also had more stock than average.
Also, reports say you’re out of luck if you want a new minivan. The same goes for small cars and hybrids, which are very popular as gas prices rise. As for prices, if you want to spend less than $40,000, supply is very tight, with 30 days of supply on hand. I have. It seems that the more expensive the vehicle, the more inventory is available. So if you want a big, expensive SUV like the GMC Yukon Denali, no problem.
Currently the most available truck is the Chevrolet Silverado
If you want a truck, you are in luck. His Chevy Silverado, Ford F-150 and Ram 1500 for model year 2023 are in great supply.
If you’re looking for a small SUV, you’re more likely to find the new Ford Explorer, Nissan Rogue, Ford Escape, Mazda CX-5, or Jeep Compass. If you want a third row, there are plenty of new Honda Pilots out there. You are least likely to find new SUVs like Kia Sportages, Honda Passports, Subaru Forester and Toyota Highlander.