Great deals could be around the corner for auto shoppers
Posted on Friday, May 9, 2014 at 8:50:52 AM
May could quickly turn into a great month for buyers interested in affordable auto financing and new vehicles. A number of factors have emerged that might inspire manufacturers to increase their offered incentives, leading to better deals and more sales.
According to NADA, slowing sales and high levels of competition for mid-sized automobiles have helped increase the availability of incentives this month. For this segment of vehicle, sales have actually dipped 11 percent in 2014 so far, unusual for what is typically the most popular auto type.
"What is traditionally a good month to buy new vehicles across all segments will be even more so for consumers looking at mid-size cars this May," said Larry Dixon, senior automotive analyst of NADA Used Car Guide.
He added that thanks to deals, buyers won't have to sacrifice style, efficiency, technology and price.
In addition to the potential uptick in incentives, auto buyers this spring have shown an increasing interest in fuel efficiency, according to AutoTrader.com. This trend is especially prevalent among younger buyers, usually those between the ages of 18 and 34.
Brian Moody, site editor for AutoTrader.com, noted that more eco-friendly options exist now than ever before, thanks in part to improving technology.