Car Prices Are Falling, but Not for Every Model, Reports Edmunds.com
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SEE ALSO: 4 Steps To Becoming A Smarter New Car Buyer
SANTA MONICA, Calif.--Summertime car shopping is always rich with bargains, but Edmunds.com, the premier online resource for automotive information, today announces that according to its latest update of True Market Value® (TMV®) Predicted Price Trends, some new cars may actually get more expensive later this season.
"During the summer, we typically see great discounting as dealers need to clear their showrooms of old model year vehicles to make room for new inventory" commented Edmunds.com Senior Analyst Jessica Caldwell. "However, the recession forced automakers to limit production, so this year the old model year inventory is much more sparse than usual. As a result, discounts are unlikely to be as dramatic for most vehicles and diminishing supply will actually raise the prices for some."
True Market Value® (TMV®) Predicted Price Trends is a tool that indicates probable price increases and decreases in the transaction prices of every new vehicle on the market. Among the vehicles expected to get more expensive in coming weeks are:
- 2011 BMW 5 Series
- 2010 Dodge Ram Pickup 1500
- 2010 Honda Civic
- 2010 Lexus GS 450h
- 2010 MINI Cooper Clubman
- 2010 Toyota Camry
- 2010 Volvo S80
Among the vehicles whose prices are expected to fall particularly dramatically as the summer progresses are:
- 2010 Cadillac Escalade Hybrid
- 2010 Chevrolet Tahoe
- 2010 Hyundai Sonata
- 2010 Mazda CX-7
- 2010 Mercedes-Benz C-Class
- 2010 Nissan Altima Hybrid
- 2010 Suzuki Kizashi
"Car shoppers can essentially time the market of their purchase by considering relevant trends such as new vehicle introductions and discontinued brand names," recommended Edmunds.com Senior Consumer Advice Editor Philip Reed. "For example, the termination of the Mercury brand will lead to continued price drops, while a lot of positive buzz has been generated about the new 2011 Ford Fiesta, so prices are likely to stay high for some time."
For a full list of new cars and their predicted price movements, visit Edmunds.com Predictive TMV® Price Trends at http://www.edmunds.com/tmv/alerts.html.
Other useful tools for savvy deal seekers include Edmunds.com's TMV® Deals of the Month at http://www.edmunds.com/tmv/deal.html and Edmunds.com's Incentives and Rebates database at http://www.edmunds.com/incentives/step1.jsp.
About Edmunds Inc. (http://www.edmunds.com/help/about/index.html)
Edmunds Inc. publishes four Web sites that empower, engage and educate automotive consumers, enthusiasts and insiders. Edmunds.com, the premier online resource for automotive consumer information, launched in 1995 as the first automotive information Web site. Its most popular feature, the Edmunds.com True Market Value®, is relied upon by millions of people seeking current transaction prices for new and used vehicles. Edmunds.com was named "Best Car Research Site" by Forbes ASAP, has been selected by consumers as the "Most Useful Web Site" according to every J.D. Power and Associates New Autoshopper.com Study(SM), was ranked first in the Survey of Car-Shopping Web Sites by The Wall Street Journal and was rated #1 in Keynote's study of third-party automotive Web sites. Inside Line launched in 2005 and is the most-read automotive enthusiast Web site. CarSpace launched in 2006 and is an automotive social networking Web site and home to the oldest and most established automotive community. AutoObserver.com launched in 2007 and provides insightful automotive industry commentary and analysis. Edmunds Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit.
