Summer 2024 sees vehicle discounts surge as car buying conditions improve

Car shoppers should have an easier time finding good deals this Memorial Day weekend than last. Dealerships are sitting on a glut of 2023 vehicles, leading to steeper discounts and lower interest rates than usual, the auto research firm Edmunds said Wednesday. The share of ’23 models available at dealerships nationwide has reached 6.8%, up from 5.4% last year for 2022 models, it found.

Stellantis had the largest share of ’23 vehicles on lots as well as the deepest average discount on those models, Edmunds found. Buyers can take advantage of the automaker’s Memorial Day deal on the ’23 Dodge Challenger SXT, which offers a $3,750 cash rebate. As for EVs, “we’re having a very difficult time” selling them, Kunes said, as demand has slowed.

Source: News Formal (newsformal.com)

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