Holiday Bargains Scarce for New Car Shoppers, Finds Edmunds

Shoppers seeking holiday bargains on new cars will likely need to do some extra research, according to the car shopping experts at Edmunds.

Edmunds analysts note that automakers have pulled back on incentives due to shortages in inventory created by the coronavirus pandemic.

According to Edmunds data, the average days to turn (DTT) for new vehicles dropped to 56 days for the industry in October, nearly a 27% decrease from the same time last year and the lowest Edmunds has on record since June 2012.

The average discount from MSRP for new vehicles dropped to $2,046 in October, nearly a 23% decrease compared to last year’s number.

Edmunds analysts also predict that more than 50% of cars sold in November will be 2021 model year vehicles, an increase compared to last year when 40% of cars sold in November were 2020 model year vehicles.

Find out more at www.edmunds.com.

Copyright Today’s Credit Unions