KBB.com: Today Is A Great Time To Buy A New Car With Recently Redesigned Models Available At Reasonable Prices
IRVINE, Calif., Feb. 19, 2013 /PRNewswire/ — Although economic concerns remain, consumers in a position to buy a brand-new vehicle have more amenity-laden, reasonably priced options today than ever before, according to Kelley Blue Book www.kbb.com, the leading provider of new and used car information.
“Since the 2011 model year, nearly every vehicle in each major selling category has undergone a significant redesign that has upped expectations of consumers by a sizable margin,” said Alec Gutierrez, senior market analyst of automotive insights for Kelley Blue Book. “Shoppers considering one of the latest and greatest can count on significant improvements in fuel economy, performance, build quality, amenities and style from the generation being replaced, and all for only a modest bump in its manufacturer’s suggested retail price (MSRP).”
Shoppers keen on picking up one of the recent redesigns should be able to do so at a reasonable price. According to Kelley Blue Book(®) Fair Purchase Price, those looking for a brand-new vehicle can expect to pay 94 percent of MSRP on average in February, not including incentives. This is roughly flat compared to what consumers paid in both December and January.
The Kelley Blue Book Fair Purchase Price is the price people typically pay a dealer for a new car, based on actual new-car transactions and adjusted regularly as market conditions change. This information can help reduce the friction between dealers and consumers, offering buyers a realistic and relevant picture of what others are paying for similar models in their area.
In terms of available incentives, consumers can expect to find a number of attractive offers, even on models redesigned for the 2013 model year, such as the Ford Fusion and Honda Accord. The Fusion is available with up to $1,500 in cash rebates or a $209 per month 24-month lease with $2,588 due at signing. The Honda Accord has an available 36-month lease offer priced at $249 per month with only $2,299 down.
In addition to reasonable pricing, consumers seeking a brand-new 2013 model-year vehicle can expect ample selection when it comes time to visit the dealership. Kelley Blue Book’s latest listing data from AutoTrader.com and KBB.com Classifieds indicates that there was a 60-day supply of vehicles available nationwide as the industry entered February, 80 percent of which were vehicles from the 2013 model year. This is welcome news for consumers who have been waiting to get their hands on one of the latest redesigns offered this year.
Percent Share of New-Vehicle Inventory by Model Year
Jun-12 Oct-12 Feb-13 ------ ------ ------ MY2012 MY2013 MY2012 MY2013 MY2012 MY2013 ------ ------ ------ ------ ------ ------ 95% 5% 51% 49% 16% 84% --- --- --- --- --- --- Source: AutoTrader.com ----------------------
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About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the only vehicle valuation and information source trusted and relied upon by both consumers and the industry. Each week the company provides the most market-reflective values in the industry on its top-rated website www.kbb.com, including its famous Blue Book® Trade-In and Suggested Retail Values and Fair Purchase Price, which reports what others are paying for new cars this week. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies as well as governmental agencies. KBB.com provides consumer pricing and information on cars for sale, minivans, pickup trucks, sedan, hybrids, electric cars, and SUVs. Kelley Blue Book Co., Inc. is a wholly owned subsidiary of AutoTrader Group.
SOURCE Kelley Blue Book