Cautionary Note for the Detroit (more or less) Three
Although there was a whole lot of talk about how Toyota was turning to deep, deep discounts to move vehicles when it was in deep, deep stuff because of the multitudinous recalls that occurred earlier this year, leaving the brand about as shiny and polished as a belt buckle in a mud bath, TrueCar has come out with a report that indicates that as the summer has passed, “Manufacturers are still discounting previous and even new model-year vehicles to help push vehicles off dealership lots,” in the words of Jesse Toprak, vp of Industry Trends and Insights at the firm.
And you may be surprised at what they’ve found.
According to TrueCar, if you’re looking for a 2010 vehicle, here are the brands with the greatest discounts:
Yes, the Detroit Three in the top three.
But a Toyota vehicle does make it into the rankings for those looking for a discount on a 2010 model. In this case:
Chevrolet Silverado 1500: 22%
Ford Ranger: 17%
Hyundai Elantra: 13%
Jeep Liberty: 13%
Toyota Corolla: 12%
There are several ways to interpret this. For example, it just may be that Toyota dealer lots are already emptied of models, having had its big sales earlier in the year.
But another way, one that the executives in Detroit, Dearborn, and Auburn Hills/Turin may well consider, is that buyers still need an incentive to buy from them in some cases, so they’d better continue to up their game, they shouldn’t underestimate the fact that Toyota was widely recommended by Consumer Reports and ranked high in J.D. Power surveys for more years than it has been disssed.