Its mid month March, lets take a look at the auto sales front.
Since last week most if not all manufacturers are offering one deal or incentive piled up on top of another and it all ends on March 31, 2015. Every incentive promotion has a "marketing name" to heighten the awereness.
The end of the first quarter is only 2 weeks away, needless to mention that everyone is seeking to conquer sales along with everyone else.
Yes...the auto business is hyper competitive.
CMS (Citizen Main Street) is sitting back and watching this advertising frenzy in print, TV, radio, online.
Perhaps...getting confused by all the deals, promotions, incentives. Certainly conclcuding that its a case of dynamic pricing run amock.
Needles to mention that whoever had a strong start to 2015 is in a dramatically better position than the manufacturers seeking to conquer in the last 2 weeks of the month.
Before we forget, many dealers are piled up with new vehicle inventory, while others have vehicles temporarily stalled in snow at Autoport (Halifax).
- The "nothing down" deals are getting scarcer.
- The loan terms are extending at a faster rate than last year.
- The transaction price is higher than last year.
Although interest rates are marginally lower, the Canadian dollar is dramatically devalued (in the dumpster) compared to last year.
The manufacturers that waited till March to throttle up, are in a less favorable position that the one that did a "hole shot" in January.
Let's see what month end will bring.