Black Friday Car Deals…

November 17, 2009

From CNN:

“When people think of Black Friday shopping, they usually think of things like flat screen TVs, toys and sweaters. Now you can add cars, trucks and SUVs.

Black Friday, the day after Thanksgiving, is the best day to buy a car, according to car pricing researchers at the Web site Truecar.com.”

This ties in with GM’s announcement that all of its vehicles are to go on sale this week. I am betting that we will see almost all manufacturers going to greater lengths to get more sales. There have been multiple programs already this year that were supposed to spur sales, and maybe did for a little while. Sales have been on the upswing recently, and that is a good sign – for the economy, for the automakers, even for our government (since it has a major stake in GM).

What steps have been taken so far to spur sales?

  • “Assurance” programs – I took the title from Hyundai’s program, but it seems that almost every automaker came out with something like it. If you lost your job during a specified amount of time, you could return the car. Very good sales pitch during this time of uncertainty.
  • “May the best car win” – GM’s recent move to not only try to change perception, but spur sales, is kind of successful. However, most customers (everyone but one) chose to take the $500 instead of being able to return the car. Only one person returned the car: someone who had bought a manual Corvette, and brought it back for an automatic.
  • Warranty extensions – it is amazing the warranty you can get on new cars. Hyundai/Kia kicked this off as well, with their 10 year/100,000 mile powertrain warranty. Now, every automaker has a longer warranty it seems.

I hope sales continue to climb, and that people continue to get good deals on their new cars. A little haggling can go a long way – and these Black Friday sales, Red Tag Sales, etc. are going to help a lot (I hope!).

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