You’ve heard us say it before, and you’ll hear us say it again; December is the best month to buy a new or used vehicle. End of year sales promotions are typically the most aggressive of the year, dealerships are determined to hit their month-end, quarter-end, and year-end volume-based sales objectives, and manufacturer’s budget their largest share of dollars to go towards December marketing activities. December is the best month to buy a car, truck, or SUV, but that doesn’t necessarily mean every “deal” on a dealers lot is a good one.
This year we commissioned our first ever CarEdge research project, the 2020 Negotiability Report. With our data partner MarketCheck, we analyzed nearly 2 million vehicle listing pages to determine which vehicles dealers should be desperate to sell in the ten largest cities, and Detroit (because if it has to do with automotive, then you have to include Detroit, it’s a rule).
The results were interesting. It’s incredibly clear that there is an oversupply of some vehicles in certain areas, while there is a lack of supply in others. Take for example in the Chicago, IL region. We found that half of the most negotiable new cars in Chicago are Audi’s. Could that have something to do with the fact that there are 7 Audi dealerships in the city, and maybe that is causing a bit of an oversupply? Sure. What does that mean for you if you’re in that area? Go get yourself a great deal on an Audi!
The methodology for this research project was simple. Just like we have a Negotiability Score in the CarEdge app, we calculated the same score across all vehicles in each of the eleven regions to determine what their score is. We then ranked the top ten for new and used in each region. If you’re unfamiliar with the Negotiability Score, it is a 0 to 100 score we assign to any vehicle identification number (VIN), and it is calculated by analyzing a vehicle’s “time on lot” (how long it has been listed for sale by a dealership), and the local area’s market days supply (an industry metric to determine how “in demand” a vehicle is).
To access the full report, please click here: https://caredge.com/negotiability-report-december-2020/
For links to each specific region, refer here: