• Home
  • News
  • E-Cars
  • Technology
  • Dealer
  • Guides
  • Editorials
ProCar Digest
SUBSCRIBE
No Result
View All Result
  • Home
  • News
  • E-Cars
  • Technology
  • Dealer
  • Guides
  • Editorials
ProCar Digest
SUBSCRIBE
No Result
View All Result
ProCar Digest
No Result
View All Result
Home Dealer

Discounts Return as Previous-Year Models Sit

by Car Digest
May 24, 2024

Part of the reason for the accumulation of outgoing models is high interest rates that are keeping many consumers out of the market. - Pexels/Kelly

Part of the reason for the accumulation of outgoing models is high interest rates that are keeping many consumers out of the market.

Pexels/Kelly

The share of new outgoing model-year vehicles sitting on dealer lots in May about matched that in May 2019, the year before the pandemic, signaling that reviving inventories are returning conditions to normal levels.

2023 models rose to about 7% of vehicles on dealer lots in May. That’s up from outgoing model-year share of 5% a year ago, 4% in May 2022 and 7% in May 2019, according to Edmunds, which observed that the surplus is bringing the return of discounts.

It put the average discount for the 2023 models at $4,147, up from $1,919 for last year’s outgoing models and $357 for the previous year’s. That’s getting closer to 2019’s average $4,600 discount for 2018 models.

Edmunds said that more than a quarter of 2023 model-year purchases financed at dealerships were getting average annual percentage rates of less than 2%, versus 4% of 2024-model purchases.

“For dealers and automakers, the trend serves as a moment of caution surrounding the old habits of overproduction and inventory glut,” Edmunds Head of Insight Jessica Caldwell said in a press release. “It’s also a reminder that the expensive vehicles now being discounted were strong sellers one to two years ago, showing just how significant high interest rates are in today’s market.”

Domestic brands are experiencing the biggest supply glut, Edmunds said.

LEARN MORE: May New-Vehicle Forecast Partly Cloudy

Related Posts

Trucks Recalled Over Crash Risk

Trucks Recalled Over Crash Risk

by Car Digest
June 6, 2025

Vehicle vibration and/or a clunking or rattling noise as the truck suspension bounces are potential warning signs of the problem....

Capitalizing on Growth Opportunities

Capitalizing on Growth Opportunities

by Car Digest
June 3, 2025

Being aware of a dealership’s liquidity markers and how they're perceived or used by a lender can affect the outcome...

New Partnership to Enhance Automotive Education

New Partnership to Enhance Automotive Education

by Car Digest
June 2, 2025

The two organizations plan to work together to promote certification standards, advance instructor professional development and training.Pexels/Anna Shvets The ASE...

Wells Fargo to Begin Growing Auto Loan Portfolio by Mid-2019

Wells Fargo to Begin Growing Auto Loan Portfolio by Mid-2019

by Car Digest
May 31, 2025

Photo by Laimerpramer via Wikimedia Commons SAN FRANCISCO — Wells Fargo reported earlier this month a $10.3 billion year-over-year decline...

Auto Dealership Buy-Sells Fall in Q1

Auto Dealership Buy-Sells Fall in Q1

by Car Digest
May 28, 2025

Buy-sell deals involving multiple stores tend to be more sensitive to market volatility due to their high degrees of leverage...

Auto Dealers Feted

Auto Dealers Feted

by Car Digest
May 27, 2025

Annual observance will be marked on May 19.Spectrum Automotive Holdings In a new annual observance to recognize auto retailers’ contributions...

DAS Technology Launches Dealership Tariff Toolkit

DAS Technology Launches Dealership Tariff Toolkit

by Car Digest
May 26, 2025

The toolkit is designed as a turnkey resource for dealerships to help guide them through trade tariff changes.DAS Technology  DAS...

Load More

Related Post

What’s the Cost of Maintaining an EV?

What’s the Cost of Maintaining an EV?

April 7, 2024
Buick Sets Hefty Price Tag to Sell EVs

Buick Sets Hefty Price Tag to Sell EVs

July 8, 2023
Nissan Rogue vs Toyota RAV4: Compare Crossover SUVs

Nissan Rogue vs Toyota RAV4: Compare Crossover SUVs

May 11, 2023
Toyota 3-row US-made EV, VW ID.Buzz US details, cheaper Kia EV6, Fisker Ocean range: The Week in Reverse

Toyota 3-row US-made EV, VW ID.Buzz US details, cheaper Kia EV6, Fisker Ocean range: The Week in Reverse

June 3, 2023
Toyota Is Really Good at Listening to Enthusiasts

Toyota Is Really Good at Listening to Enthusiasts

August 3, 2023
2023 Hyundai Kona: A Trim Comparison

2023 Hyundai Kona: A Trim Comparison

October 31, 2023
2024 Volvo XC90: A Trim Comparison

2024 Volvo XC90: A Trim Comparison

November 28, 2023
  • About us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms & Conditions
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT
No Result
View All Result
  • Home
  • News
  • Guides
  • E-Cars
  • Dealer
  • Technology
  • Editorials

© 2022 procardigest.com