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Discounts on new cars have become scarce in recent months. According to Cox Automotive, incentives accounted for just 5.6% of the average new vehicle transaction in August. That’s near a 10-year low and just over half of the same figure from August 2019, the last comparable month before the pandemic. Cox Automotive is the parent company of Kelley Blue Book.
Shortage of new cars = Shortage of offers
Discounts are especially rare on trucks and SUVs, which Americans are buying at a rapid rate this year.
Dealers have little reason to offer discounts. A global shortage of microchips has slowed down or halted production of many popular vehicles. This leaves dealerships with fewer cars to sell. They should make as much profit as possible from each sale, knowing that they cannot count on a large sales volume.
We probably wouldn’t report a $ 1,000 rebate on certain trucks and SUVs in a typical year. But this year, it’s news.
a take
Discount is only available to Costco members. But no, you don’t have to buy a dozen trucks to qualify. A Costco membership can cost as little as $ 60 and also gives you access to their tire store, known for their excellent warranties.
Members are eligible for a $ 1,000 rebate on every 2021 and 2022 Chevrolet pickup truck and SUV. Even those like the Chevy Tahoe full-size SUV and the Silverado pickup, which dealerships are struggling to keep in stock. Buyers must use the Costco Auto program to start the process.
Eligible vehicles:
Eligible vehicles include the 2021 and 2022 versions of the Chevrolet:
Costco stresses that the deal is separate from other dealer and manufacturer incentives, so buyers should be able to take advantage of both… if they can find them. The offer is valid until January 3, 2022.
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