Edmunds.com reports that in September the average vehicle in the US was sold at a discount of more than $5,000 under sticker price for the first time in history.
“For many manufacturers, constant incentives make the sticker price a meaningless number,” commented Dr. Jane Liu, Vice President of Data Analysis for Edmunds.com.
In September 2004, the sales-weighted average new vehicle sticker price was $30,104, $573 higher than in August 2004 and $878 higher than in September 2003. The sales-weighted average net price was $24,817, $45 higher than in August 2004 and $262 higher than in September 2003, putting the average discount from sticker to net price at a record high of $5,287, or 17.6% of average sticker price.
Examining the industry by market segment, Edmunds.com found trucks and SUVs experienced significant discounts in September, at 21.7% and 17.9% respectively, while passenger cars remained steady at 14.8%.
The last time the sales-weighted average new vehicle sticker price averaged over $30,000 was in December 2003, when the discount was 14.5%, 3% lower and almost $900 less than it was in September 2004.
