The bad economy looks to be getting deeper over in Europe. The latest evidence is German carmakers' desperate efforts to prop up badly-lagging sales. Last month, European discounts on German brands averaged 12.2 percent. And now, Mercedes-Benz is offering a 3000-euro ($3,900) trade-in incentive to customers.
Business was a-boomin' in the auto industry last year, and while a number of factors conspired to keep cars moving through dealerships, chief among them was discounts. How do we know that? This infographic contains part of the answer.
Let's face it, nobody pays MSRP anymore. In fact, the most savvy car buyers among us don't even pay invoice price. Thanks to Internet pricing sites like TrueCar.com, it doesn't take negotiating skills or friends in the business to get dealers to sell you cars at deep discount. And that fact has Honda ticked off.
Using a formula that takes into account what a buyer actually pays for a vehicle, J.D. Power APEAL Survey results and the Consumer Reports Owner Satisfaction Survey, Forbes has come up with the 15 vehicles for which you'll probably pay too. The most overpriced vehicle will cost you $7,158 more than it should. For some reason we couldn't see the 15th and final slide, so all we can tell you is that the 14th most overpriced vehicle will run you $2,447 extra.
Ford is expanding its employee discount program in an effort to boost domestic sales by labeling its workers as "sales ambassadors" and providing them with five additional discount PINs that reduce the price of any new model manufactured by FoMoCo.
In a recent press release, Travelers Insurance company announced that New Jersey is the latest state to receive their 10 percent discount for customers who own a hybrid vehicle. Now at 39 states, Travelers is also offering a central website for those who are considering a hybrid to learn about information such as tax benefits as well as obtaining policy data and insurance quotes.
Ford Motor Company employees and retirees each account for less than one AXY-Plan sale per year (the AXY-Plan is Ford's employee and supplier discount program). The company claims that if it could only add one additional discounted sale per employee and retiree each year, a market share gain of two percent could be realized. That's not exactly small potatoes in today's marketplace. As such, the company has started what it calls the Ambassador Club for those employees who directly contribute