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In February, smart car buyers can negotiate thousands of dollars off of brand-new 2024 models, but only if you know where to look. Several cars, trucks, and SUVs simply aren’t selling like OEMs and dealers expected. Normally, there’s between 45 and 65 days of supply for new cars. This means that if there were no new shipments, it would take that many days to sell the existing inventory and current selling rates. Right now, multiple models are above and beyond 100 days of supply, and in some cases, well north of 200 days of supply.
Calling this an oversupply would be an understatement. This surplus has turned the tables for potential buyers, who now find themselves in a unique position to leverage this abundance for potentially better deals. Utilizing the latest insights from CarEdge Data, we’ve pinpointed which 2024 cars and trucks are currently the most negotiable.
For 2024, Ford has refreshed the exterior with updated headlights and a redesigned grille. A 2.7-liter turbocharged V-6 engine now sits as the standard powertrain, offering a fresh dynamic under the hood. Additionally, the previous Platinum Plus variant has been replaced by a newly introduced Limited trim, marking a significant update in the model’s lineup.
The 2024 Explorer largely mirrors the 2023 model. Minor updates include newly integrated air vents and rearranged components to accommodate a bigger infotainment screen and a new smartphone shelf.
In 2024, the Jeep Compass sees minimal changes, with the addition of new appearance and equipment packages slated for later in 2024. An updated front grille insert and fresh 19-inch wheel designs will be introduced soon. Additionally, the Trailhawk variant will be equipped with a new set of all-terrain tires.
The 2024 lineup introduces the Carbon Turbo trim, featuring Zircon Sand paint, black wheels, and Terracotta leather seats, and is powered exclusively by a 250-hp 2.5-liter turbocharged engine. The Select trim is now called the Select Sport, which boasts upgraded 18-inch black metallic wheels, black mirrors, and black synthetic leather. Additionally, a larger 10.3-inch infotainment screen is now offered in the higher-end Turbo models.
For 2024, the Ram remains largely unchanged, possibly in anticipation of the substantial updates planned for the 2025 model. Notably, Ram discontinued the diesel engine option for the 1500 model last year.
With more than twice the normal inventory levels in some cases, it’s clear that several 2024 models are highly negotiable, despite being fresh out of the factory. Before you visit dealership lots, remember this: dealers are stubbornly reluctant to lower sticker prices, but they’re more open to negotiating with educated buyers than at any time in the past few years. With negotiation know-how, you can save thousands.
In 2024, it’s possible to own a full-size 4×4 truck AND get good fuel economy without switching to diesel. From the Toyota Tundra to the Ford F-150, and even the Ram 1500, hybrid powertrains have made their way into America’s favorite trucks. And no, we’re not talking about electric trucks. Here’s a look at what makes these trucks the top picks for truck fans looking to spend less on gas.
The 2024 Ford F-150 Hybrid is a notable contender in the full-size hybrid truck market, continuing Ford’s innovative legacy. The F-150 PowerBoost Hybrid stands out as a leader in the segment. Last year, Ford sold over 50,000 copies.
The F-150 Hybrid combines a twin-turbo 3.5-liter V-6 engine with a 35-kW electric motor integrated into the transmission, delivering 430 horsepower and 570 lb-ft of torque—nearly 50 hp more than the non-hybrid V-6. Additionally, it offers the highest fuel efficiency among all hybrid full-size trucks on sale in 2024.
The 2024 Ram 1500 employs a unique approach to hybrid technology with its eTorque system, available in both V-8 and V-6 variants. This system enhances the traditional alternator to supply additional power to a compact battery, offering more torque and other features, albeit without continuous power drive.
Although it’s not a complete hybrid system like you’ll find in the F-150 and Tundra, the Ram 1500 eTorque’s mild hybrid design provides slight improvements in urban driving efficiency. Its advantage over the standard gas-powered Ram model is limited to just 1 mile per gallon.
The 2024 Toyota Tundra Hybrid distinguishes itself in the full-size hybrid truck segment with its innovative i-Force system, which primarily boosts horsepower, while also offering improved fuel efficiency as a secondary benefit. Standard across all new Tundra models is a 3.4-liter twin-turbo V-6 engine, with the hybrid variant adding an extra nearly 50 horsepower and over 100 lb-ft of torque. The rear-drive i-Force Tundra is the most fuel-efficient option within the lineup, but a 4×4 option is available.
There are a few excellent 4×4 hybrid trucks available in 2024. The Toyota Tundra and Ford F-150 both offer models that feature four-wheel drive paired with comprehensive hybrid systems. The Ram 1500 also offers a 4×4 option with its mild hybrid system, though it doesn’t match the full hybrid capabilities of the Tundra and F-150.
As you can see, there’s plenty to choose from in the realm of fuel efficient full-size trucks in 2024.
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What makes EV ownership enjoyable? Fast charging, long range, and good reliability. In 2024, there’s a wider selection than ever in the search for affordable electric vehicles that won’t disappoint. Each offers a unique set of strengths, from the Tesla Model 3’s refreshed design and competitive total cost of ownership to the IONIQ 5’s ultra-fast charging. Plus, several cheap electric cars qualify for the revised federal tax credit. Here’s the need-to-know for America’s 5 best cheap electric cars and crossovers on sale in 2024.
Tesla Model 3 Rear-Wheel Drive
Price: Starting at $40,380 with destination fees
Range: 272 miles
Charging Speed: Charging speeds up to 170 kW, adding up to 160 miles in 20 minutes
Federal tax credit: Does not qualify due to new battery sourcing for the Model 3.
In 2024, the Tesla Model 3 was fully refreshed for the first time since its launch in 2017. However, due to battery mineral sourcing, the Model 3 no longer qualifies for the federal EV tax credit. Learn which models do qualify here. However, at this sub-$40,000 price, the Model 3’s fuel savings make it surprisingly competitive with a Toyota Camry when looking at total cost of ownership.
Charging Speed: Up to 230 kW speeds (adding 160 miles of range in as little as 18 minutes)
Federal tax credit: No, the EV6 does not qualify in 2024. It is currently built in Korea.
Get up to 310 miles of range with the higher-spec Light Long Range RWD, which starts at $45,950. The EV6 has won multiple awards, and is much-loved by owners. It charges VERY fast at public DC fast chargers, which comes in handy on road trips.
Charging Speed: Up to 170 kW speeds (adding up to 160 miles in 20 minutes)
Federal tax credit: Yes, all Model Ys qualify. The tax credit is subject to household income limits. Learn more.
The Tesla Model Y is the best-selling EV in America in 2024. Prices have fallen by $20,000 over the past two years, and the federal EV tax credit has returned with the passage of 2022’s Inflation Reduction Act. The Model Y’s greatest strength is perhaps the Supercharger network, which takes the hassle out of charging. Along with the Model 3, this Tesla is the perfect choice for newcomers to the EV lifestyle, as long as you don’t mind the minimalist interior.
Charging Speed: Up to 115 kW speeds (adding up to 160 miles in 30 minutes)
Federal tax credit: Yes, the Mustang Mach-E qualifies for the federal EV tax credit (income limits apply). Learn more.
There’s an extreme oversupply of Mustang Mach-Es on Ford dealership lots right now. It’s an amazing EV, though Ford just built too many of them too fast. See the new cars with the most and least inventory.
Charging Speed: Up to 230 kW speeds, adding up to 160 miles in 18 minutes
Federal tax credit: Sadly, the IONIQ 5 does not qualify for the federal tax credit. It is built in Korea. However, Hyundai is building an EV production plant in Georgia, which should return eligibility later this decade.
The cheapest IONIQ 5, the SE Standard Range, is rare here in the United States. That’s not such a bad thing when you consider that for just $4,000 more, you can get 303 miles of EPA-rated range. I own an IONIQ 5 Limited AWD, and after two years and 40,000 miles, I still love it. It’s the best car I’ve ever had. If you travel at least a few times a year, I highly recommend upgrading to the longer-range options.
Charging Speed: Up to 140 kW speeds (adding up to 160 miles of range in 40 minutes)
Federal tax credit: Yes, all ID.4s made in America qualify. Verify that your VIN was an American build. Learn more.
There are two reasons why the ID.4 didn’t quite make the top 5: slower charging and less range. If you rarely take long-distance road trips, or you are especially patient, the ID.4 is not a bad choice. The Volkswagen ID.4 is now built in Chattanooga, Tennessee. That’s great for many reasons, but especially because the ID.4 now qualifies for the $7,500 federal tax credit (income limits apply). Need more range? For $43,995, you can get 275 miles of range with the ID.4 Pro.
In 2024, we’re seeing a gap in Bolt production as Chevrolet launches the faster-charging but more expensive Equinox EV, and re-tools a production facility in Kansas to bring the next generation of the Bolt EV to life in 2025. The Bolt was super affordable, starting well under $30,000 before the tax credit. However, it charges painfully slow for frequent travelers. However, there are a few 2023 Bolt EVs left on the market. You can check them out here.
The Equinox EV simply hasn’t arrived yet. It’s starting price was just announced at $34,995, but it will be far more capable than the last generation’s Chevy Bolt. Expect a larger, faster-charging EV for about $7,000 – 10,000 more than the Bolt.
Why not the Nissan LEAF? Sadly, Nissan continues to produce the LEAF with outdated hardware. Even in 2024, the LEAF includes a charging standard that the rest of the industry has long since moved on from. It’s called the Chademo plug, and you’re in for some serious inconveniences if you travel at all in a Nissan LEAF. For that reason, we can’t recommend the LEAF until Nissan finally switches over to either CCS or NACS charging standards.
Despite achieving a record-breaking sales year in 2023, with over 11 million vehicles sold worldwide, Toyota is currently navigating through a turbulent period marked by a series of scandals and controversies across its 17 companies. The Japanese automotive giant, renowned for its quality and safety, has been hit by governance issues and testing irregularities that threaten to tarnish its global reputation. Should you be concerned about Toyota reliability? Here’s what you need to know.
Toyota’s chairman, Akio Toyoda, has publicly apologized for the scandals plaguing its subsidiaries, including small-car maker Daihatsu, truck manufacturer Hino Motors, and Toyota Industries, which is responsible for producing engines. The issues primarily revolve around certification test procedures for cars and engines, casting a shadow over Toyota’s commitment to quality and integrity. In a bold move, Toyoda addressed the media and stakeholders, expressing deep regret for the inconvenience and concern caused by these irregularities.
“I would like to express my deepest apologies to our customers and stakeholders for the inconvenience and concern caused by the successive irregularities at Hino Motors, Daihatsu and Toyota Industries,” Toyota Chairman Akio Toyoda told reporters
The Impact on Production and Sales
The repercussions of these scandals are already being felt among affected brands. Daihatsu suspended shipments of all its cars following a safety scandal investigation that revealed issues with 64 models, some of which are sold under the Toyota brand.
This has led to a significant drop in Daihatsu’s global production and sales. The Daihatsu scandal led the company to halt production. Toyota itself has halted shipments of certain models, including the Hilux truck and Land Cruiser 300 SUV, after an independent panel discovered wrongdoing in tests for diesel engines produced by Toyota Industries.
Cheating on Engine Testing
The situation worsened when Japanese transport officials raided a Toyota-affiliated plant after the company admitted to cheating on engine testing. This admission adds another layer to the company’s current woes. This scandal is particularly damaging as it involves some of Toyota’s most popular international models, including the Land Cruiser and Hilux SUVs, affecting markets in Japan, Europe, the Middle East, Africa, and Asia.
The Takata Airbag Recall Continues
Takata’s massive airbag recalls have been ongoing for over a decade. Since 2013, over 40 million cars and trucks have been recalled due to dangerous hazards from the airbags.
In 2024, Toyota is expanding the Takata airbag recall even further. The company has issued a warning to owners of about 50,000 vehicles in the United States. The new Toyota recall includes certain model years of the Corolla and RAV4. Toyota advises drivers to take their vehicles in for service immediately.
These are the models and years affected by the most recent Toyota recall:
As Toyota grapples with these multiple fronts of controversy, leadership is under pressure to steer the company out of scandal and restore its image. However, with no concrete plan of action, Toyota drivers are wondering what’s next.
Should you be concerned about Toyota’s reliability? In the United States, no major issues have arisen aside from the decade-long Takata airbag recalls. Regardless, we highly recommend checking if your VIN is subject to ANY recalls, regardless of make or model. Use the U.S. NHTSA’s free recall checker here.
No matter how you look at it, Toyota’s resilience is under pressure. Drivers and competitors alike are watching closely to see how the automaker known for reliability will respond to these challenges.
For the first time in over two decades, Super Bowl 58 will come and go without advertisements from America’s largest automakers. Ford, General Motors, and Stellantis, the parent company of Chrysler, are all sitting out the 2024 Super Bowl ad frenzy. Traditionally, the Detroit Three dominated Super Bowl car commercials. Not anymore. But which automakers ARE advertising in the 2024 Super Bowl? We’ve got the complete list below.
By the way, if you’re wondering how much Super Bowl commercials cost this year, the latest word on the street is somewhere north of $7 million per 30-second spot.
Toyota
Toyota is all-in on the Super Bowl this year with a series of ads starring former NFL quarterback Eli Manning, YouTuber Pushing Pistons, and other big names. These ads will showcase various Toyota models, including the Supra and the all-new Land Cruiser SUV. From the teasers we have, it’s interesting to see Toyota advertising niche models rather than going for mass appeal.
Volkswagen is returning to Super Bowl advertising for the first time since 2014, with a focus on its electric vehicle lineup. The ad for the all-new ID Buzz all-electric van aims to highlight Volkswagen’s evolution from its iconic Beetle to today’s electric offerings. Volkswagen’s EVs have been no exception to the current ‘EV winter’, as the ongoing sales slump has been called.
Kia, on the other hand, is set to advertise its all-electric EV9 SUV. In January, the EV9 outsold the EV6 just one month after hitting the market. Finally, a somewhat affordable 3-row EV is here.
Could 2024 be the last time we see a meaningful number of automotive Super Bowl ads? With the price tag for a half-minute spot climbing ever higher, it’s no surprise that OEMs are turning down the opportunity in times of strong headwinds. With struggling transitions to EVs everywhere you look, automakers are likely to have plenty of reasons to spend less in the years ahead.
What we could see next year is newcomers to Super Bowl commercials. It wouldn’t surprise us if the likes of Rivian, Lucid, and even Tesla fork over $10 million for a 30-second spot in 2025. Is it a wise use of millions of dollars? That’s up for you to decide.
What do you think? Let us know in the comments below.
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Ready to outsmart the dealerships? Download your 100% freecar buying cheat sheets today. From negotiating a deal to leasing a car the smart way, it’s all available for instant download. Get your cheat sheets today!
CarEdge Insights
