Due to a confluence of factors — including an inventory squeeze from early-pandemic factory shutdowns and the unanticipated demand from homebound consumers wanting to get on the road — discounts are not as high this month as they might have been otherwise.
Basically, dealerships don't have to push as hard to move cars off their lots. The average time it takes for new inventory to sell — both 2020 and 2021 models — is 50 days.It's not a buyer's market, but there are still discounts.Additionally, in recent years it was common to see an average 10% or more off the sticker price with occasional dips below that threshold, said Kelsey Mays, senior consumer affairs editor for Cars.com.
Some brands also might offer bigger discounts due to slower sales on particular 2020 models. In the Cars.com database, 34% of vehicles are this year's models overall. However, for Ford, it's above 72% and for Nissan, 61%. "Those are two very mainstream brands that have a whole bunch of 2020 models that consumers could find pretty strong discounts on," Mays said.
For example, the 2020 Ford EcoSport, which starts at about $20,000, comes with a manufacturer's discount of $3,250 to $6,750, depending on the car's trim and where you live, according to Cars.com. On the Nissan 2020 Pathfinder, meanwhile, a discount of up to $4,500 is possible.