Car discounts won't come back post-pandemic, AutoNation says:
The largest car dealership chain in the U.S. said discounts on new cars may be a thing of the past as the auto industry seeks to lock in higher prices resulting from pandemic-induced production cuts.
“We will not return to excessively high inventory levels that depress new-vehicle margins,” AutoNation CEO Mike Manley said. “Significant discounting and high incentives can also damage a brand, which is another reason for our industry to balance appropriately supply and demand.” Executives at General Motors Co. and Ford Motor Co. have signaled they will throttle production even as computer chip shortages that have forced them to cut output start to ease. The two companies, which have long coped with large inventories on dealer lots that prompted discounting, are eager to preserve their higher profit margins.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
80% of new car buyers paid above suggested retail price in January, data showsOnly a year ago almost no one paid the full sticker price when buying a new car. Now you're lucky if you can
Read more »
80% of new car buyers paid above suggested retail price in January, data showsThe manufacturer's suggested retail price, or MSRP, is up nearly $6,000, or 15%, from January 2021.
Read more »
80% of new car buyers paid above suggested retail price in January, data showsAccording to Edmunds, 80% of new car buyers in January paid more than the manufacturer's suggested retail price. or MSRP.
Read more »
Used car buying guide: Audi R8 | AutocarThe mid-engined R8 is an easy-to-use modern classic - is it time to pull the trigger on a used one?
Read more »