Not all new car models first introduced in the 2005 model year are faring as well in others in today’s competitive marketplace, according to the latest Edmunds.com price index released today by Edmunds.com, the premier online resource for automotive information.
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Of the new introductions in the United States, the Land Rover LR3 (Discovery), Chrysler 300 and Hyundai Tucson sold at the smallest discounts – 0.1%, 2.8% and 3.6% below sticker price, respectively.
The Pontiac G6, Buick LaCrosse and Chevrolet Cobalt had the highest average discounts: 19.9%, 14.7% and 10.4%, respectively.
Overall, new models averaged a 9.0% discount from MSRP in February 2005, compared with the industry average discount of 15.0%.
Since 1995, the number of models available to consumers has soared 23%, increasing from 256 models to 316.
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By GlobalDataA typical indication of vehicle popularity is days-to-turn, which measures how many days on average it takes to sell vehicles after they arrive at dealerships.
In February, the newly introduced models averaged 36 days-to-turn, while the industry average was 64 days.
Of the new introductions, the Buick Terraza moved the fastest at 21 days, followed by Mercury Montego and Chrysler 300 at 24 and 25 days, respectively.
The Dodge Magnum has the highest days-to-turn, 62, while Pontiac G6 takes 48 days and the Hyundai Tucson takes 42 days, on average.
“Typically, high days-to-turn statistics reflect poor sales performance, and force manufacturers to offer generous incentives as a way to balance supply and demand,” said an Edmunds spokeswoman.
“However, in some cases, popular vehicles sit on dealership lots because its buyers prefer to place orders and wait for precisely customised vehicles rather than purchase standard versions available immediately.”
