CNW: Incentives Driving Consumers Off Sidelines
Incentives are up 40 percent so far this year, and the uptick is driving more consumers to pull the trigger a lot sooner than they expected, CNW Research reports.
BANDON, Ore. — The number of consumers who have bought vehicles sooner than they anticipated due to incentives has risen to more than 40 percent this year, according to CNW Research. Prior to the 2008 recession, that number was below 10 percent.
Incentives have also caused 23 percent of out-of-market consumers to consider a new-vehicle purchase, jumping to 22 percent this year from 3 percent in 2008.
Data collected by the firm shows a widening between MSRP and average transaction prices in 2013, which could impact dealers and manufacturers’ bottom lines, according to the firm.
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