TrueCar: What’s the Best Month to Buy New?
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SANTA MONICA, Calif. –
TrueCar Inc. announced recently the best month of the year for consumers to purchase a new vehicle. Despite the common belief that December is the best month to purchase new, the best month, based on average prices over the last five years, is August, with an average total new-vehicle price of $29,296, $169 lower than any other monthly average.
As always, the new-car sales will have direct and indirect effects on used car sales. Although moving more new metal may decrease the number of used-car sales for that particular month, the new sales will encourage the used-car market in one key way: more trade-in vehicles. And those used vehicles will fuel used-car sales further down the line.
“This is a great example of the power of data,” Scott Painter, TrueCar’s founder and chief executive officer said, “which shows dealers are clearing out older inventory in August.
“Consumer buying trends have been turned upside down during the past decade due to the emergence of big data,” Painter continued.
TrueCar also pointed out that the average new-vehicle prices in December, which previously had thought to be the lowest, are actually the highest of the year, with the average price being $31,146.
