seems it's not the good time to buy a new car right now:
[ZT]
Car Incentives Are Terrible Right Now
May 5, 2011
Incentives on vehicles sold in April hit their lowest level since 2005, according to Edmunds.com, which estimates the average incentive paid by automakers was $2,118 per vehicle sold last month.
The reason incentives are so low right now is due to supply and demand issues.
Inventories of new vehicles are lower due to brisker consumer demand thanks to a strengthening economy, and shortages resulting from the recent Japan disaster.
As a result, automakers don’t need to offer rich incentives.
The decrease in incentive spending runs across the board by manufacturers regardless of country of origin, with the exception of Korean automakers Hyundai and Kia - least affected by the Japan disasters and clearly trying to capitalize on the situation.
Domestic automakers showed the largest decline in incentives from March, averaging $2,683 per vehicle sold in April, down $398 from March.
Japanese automakers had the second largest decline with $1,696 per vehicle, down $236 from March.
So what can you do as a car buyer? Should you wait a few months in hopes of getting a better deal? Not necessarily - these supply and demand issues are predicted to last until at least the end of summer and possibly until the end of the year.
