Why Black Friday is a Great Time to Buy a New Car
When the turkey’s gobbled up, the football game is over and you’ve got your nap out, it might be time to think about a new ride. While guerrilla shoppers nationwide are duking it out in the electronics shops and toy aisles, more levelheaded buyers are negotiating deals on the car lots. Turns out, Black Friday just might be the best day of the year to purchase a new vehicle.
Based on a combination of sales data for the last 10 years and current market conditions, researchers estimate that dealers across the country will offer discounts of more than 20 percent this Friday. There are several reasons for the steep price drops. First, Black Friday falls very near the end of the month, when dealers are on a major push to meet their monthly sales quotas. Plus, manufacturers invariably offer year-end rebates and other incentives in an effort to clear lots of the current model year rides so that those lots will be filled with the new year’s models instead. Add the Black Friday frenzy that has millions of Americans in a mad shopping mode, and you’ve got a perfect storm of elements that make it a buyer’s market.
In fact, research by Edmunds.com shows that car dealers already are seeing boosts in November sales compared to a this time last year, and many credit having increased their Black Friday promotional offerings. By month’s end, researchers estimate nearly 1.3 million cars will sell in November, up 1.6 percent from November 2013 car sales. Executives at Chrysler Group are particularly optimistic, expecting a 15 percent jump in car sale this month over a year ago. Even General Motors, suffering a massive PR hit and facing a $3 billion lawsuit from Arizona’s Attorney General and a continued federal investigation into its deadly recalled ignition locks, is projecting a 0.6 percent year-over-year increase.
Will you be shopping the car lots for a new ride this Black Friday? Post your thoughts on our Facebook Fan Page. And from all of us here at E3 Spark Plugs, have a safe and happy Thanksgiving Day and Black Friday experience.