Are you in the market for a new SUV? If so, you’re in luck because there are some fantastic deals on SUVs this year! No matter what kind of vehicle you like, the discounts offered by these manufacturers are going to make it easy to find your perfect car.
Car manufacturers could be offering discounts. It’s hard to find any good news in today’s headlines, and that includes the car industry. The demand for cars is at a record low, which means automakers are cutting production and canceling orders. All of this leads to lower revenues, increased unemployment, a faltering economy, and much more. Dealers are desperate to make sales and may cut prices on already discounted models. But even amidst all of these gloomy reports, one thing that has kept many from total despair is the possibility that automakers might slash prices on their luxury or high-end models. The SUV is a good example of this.
Today’s cars and trucks are more reliable and less expensive than ever. Partly due to the weak market, the quality of today’s vehicles is higher than it has ever been. Weigh in the value of significant discounts on today’s more reliable vehicles, and subcompact cars with high fuel efficiency can look pretty good to a cash-strapped driver.
Today’s SUVs are not the same as the ones that stormed into showrooms in the mid-90s. With high-end models like the Audi Q7, BMW X5, and Mercedes-Benz M-Class now commanding prices above $48,000, consumers might finally be ready to walk away from these expensive vehicles. Although there is no doubt that these models are very nice cars, they can be a financial burden on consumers. Even in good economic times, most people cannot afford to spend $48,000 on a vehicle. The fact that these vehicles are overpriced is why SUV sales have plummeted in this last recession.
In the past, when the economy was good, and there was so much business going on in corporate America, the rich and famous would do nothing but drive their SUVs all over town. Today it is not quite as cut-and-dried as that. Even the rich and famous find it necessary to get a little bit of a discount on their SUV.
Several automakers offer a money-back in rebates and discounts on their high-end models. It’s hard to find any official figures on just how much these rebates total. Many consumers would like to know just how much cash they could save if they bought one of these high-end SUVs. However, with so many automakers offering discounts, it’s hard to tell how much money buyers could save. Although all of this information might be hard to find, what the automakers offer is a good indication.
For example, GM is offering $9,500 cash back on the Cadillac Escalade. The Ford Expedition is also getting a $1,500 cash back. Even the Chrysler Pacifica Hybrid is getting a $5,750 discount. 2021 Chevrolet Equinox has a discount offer of $5,101. The Lexus LX570, Mercedes-Benz GL, BMW X3, and the Cadillac Escalade all have big savings. All of these vehicles are very nice to look at and have the performance to match. And it’s not hard to see why consumers would want to buy one of these models over a less luxurious vehicle. The fact that automakers offer discounts for top-of-the-line SUVs is a good sign that they expect those kinds of sales numbers this year.
SUV discounts are helping automakers to sell more cars. In the past, consumers would only buy a vehicle that they wanted. Today they have to buy a vehicle that is worth the money. And with SUVs getting discounts, it shows that they are worth the high price tag.
Why SUV Discounts
SUV discounts could be coming up. To make up for this lost revenue, car companies need to do something, which means cutting prices on these high-end models. It can be done in a number of ways. For example, one of the most effective methods would be to reduce the price on an existing model by a certain amount but keep it looking and feeling like a luxury vehicle.
Another method would be introducing a new high-end model but selling it for less than it normally would. It is exactly what Lexus did when it introduced its RX 400h model in 2008. The RX 400h, based on the Toyota Highlander hybrid SUV, was the first high-end hybrid to reach American shores. It has now been joined by several other luxury hybrids such as the Lexus LS 600h and BMW xDrive Hybrid. But unlike the RX 400h, these models sell for much higher prices because they have more features, and are built on more expensive platforms.
Conclusion
It is expected that for most automakers, this is the last recession. They hope to see increased sales in the next one, but that is still not a guarantee. Even if consumers decide to buy luxury SUVs at a discount because of tough economic times, it might not be worth it.
The only way to find out if SUVs will be worth the discount is to wait and see. The only way to see if SUVs are worth their high price tag is to purchase one. If they aren’t, then the discount offer doesn’t make them worth it. With so many automakers offering discounts for top-of-the-line SUVs, it will be interesting to see what happens in 2021.
With the number of deals available above, we think you have the best chance of finding a great SUV deal right now. Regardless, many manufacturers have great vehicles and will continue to offer discounts. Check back for more deals in the future!