Today will mark the beginning of the busiest week for the auto industry. It's the day after Christmas, and the peak hours won't be getting any lower until the New Year starts. This is the time of the year when car dealers and automakers themselves shell out big discounts at ridiculous levels to meet their quotas before the year ends.
Car manufacturers and dealers alike will be making last-ditch efforts to meet sales targets before 2016 ends. To do this, manufacturers give dealers hearty incentives to 'dispose' of the latest car models so that they have room for new ones once 2017 starts ticking.
Melissa Steffy, general manager for Herb Chambers BMW in Boston, says that they will exert effort from Dec. 26 to Jan. 3 the way they exerted their sales push from Dec. 1 to Dec. 24. This means that sales work for a month's worth will be crammed into this one week, as reported by Forbes.
Steffy also added that each manufacturer will be trying their best to hit its sales goals for the year, making luxury brands lower their prices too, which makes it interesting for those who target the category. The BMW general manager also emphasized that on top of its corporate targets, importance is also being given to dealership targets.
Forbes also reported that associates would be the most determined to hit their targets during the last week of any given month. This week's car sales are forecasted to be 72 percent higher than what was sold during the first three weeks of December. If the fourth week sales of the previous 11 months is compared to their counterpart first three weeks, the bump would only be 40 percent higher on average.
With a huge sales bump in every December's car sales, it would signify that the auto deals are really good considering the holiday spirit plus the desperation of hitting sales targets. So if one wishes to buy a new car but is also considering their budget, the best time to go car shopping would be the last week of December.