A New Type of SUV is Bringing Prices Way Down
Over the past decade, uncontrollably high gas prices changed the trajectory of the SUV market forever. As those with SUVs quickly exchanged them for more fuel efficient vehicles and drivers stopped purchasing new SUV models for almost an entire decade, automakers everywhere faced huge losses.
The auto industry saw an 18% drop in sales starting in 2008. Manufacturing slowed, SUV prices shot up, and most people ran away from SUVs like the plague.
Car companies had to find a way to bring drivers back into their dealerships. With no one willing to buy an oversized vehicle, they had to devise a new solution. And what automakers came up with is making SUVs cheaper than ever before.
A New ERA of SUV
As sales slowed and gas prices rose, major auto manufacturers learned an important lesson: consumers simply don’t have the appetite for a heavy, inefficient SUV that could cost them a third of their income at the pump. Even as gas prices began to drop in the last few years, Americans still stayed far away from traditional SUVs.
So, starting just a few years ago, automakers crafted a new line of SUVs called crossover. These new cars combined the best features of SUVs with the fuel efficiency and performance of sedans. Capable and comfortable, crossovers became incredibly popular.
With this development and an increased demand in the more efficient crossover, manufacturers started upping production once again, leaving many dealerships with an influx of new, smaller SUVs to sell this year.
Crossovers are Taking Over Dealership Lots
When the first crossovers were released in the early 2000s, new car buyers excitedly traded in their oversized SUVs and small sedans. Suddenly, crossovers were everywhere. Automakers, of course, were thrilled – they were selling more and more crossovers, and they began producing new crossovers in huge quantities. Car companies added many different crossover models to their brand lineups, trying to meet customers’ demand for the new SUV style.
But another change occurred. Suddenly, with crossovers everywhere and dealerships receiving more crossover models each day, sales slowed. According to Forbes, experts are seeing a sales decline of 5%. Despite drivers’ love of the crossover, new models aren’t selling. And dealerships are left with a surplus of cars that they need to move.
If your local dealership can’t move its crossovers, it’s going to lose money. And the 2018 model year is almost over. This summer and fall, brand-new crossovers for 2019 will arrive, meaning dealerships will become increasingly desperate to move crossovers and make sales.
How You Can Find Crossover Deals
This year, more so than ever, new SUV buyers will benefit from the influx of crossovers sitting on dealership lots. There are countless incentives and discounts offered by dealers who need to make space for the 2019 models arriving in the coming months.
So, whether you want a smaller SUV to take your family on cross-country road trips or your commute requires a fuel-efficient ride with a roomy interior and plenty of cargo space, a crossover is an affordable choice – and there are more cash back incentives are emerging as we speak.
If you’re considering a brand-new crossovers, fantastic incentives are appearing at nearly every auto brand. GMC is offering up to $3,000 cash back on small-sized SUVs like the Terrain. Ford is giving drivers the chance to earn $2,500 back on crossovers like the Edge. Right now, the Nissan Murano is one of the top deals: drivers can get up to $5,000 off the MSRP.
Additionally, according to US News, there are incentives for those looking to lease a new 2018 crossover. Ford and Hyundai are offering exceptional financing offers for 6 months to a year, with 0% interest. GMC and Chevrolet are giving crossover customers a great deal as well, with 0% interest for up to three years for qualified car shoppers.
These are just a few of the deals we’ve spotted. To get the biggest savings in your area, do your research – while auto companies offer national incentives and rebates, many of the dealerships’ biggest deals are location-based. Check with your local dealerships and search for the best incentives or offers in your area You could find yourself with even bigger savings!
If you’re interested in SUV deals, start a search today.