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MIS UPDATES
- Lease price points are now available for BMW, Chrysler, Fiat, Jeep, Lincoln, Nissan, and Ram. Lease rates and residual values are now available for Cadillac, Genesis, and Infiniti. 5/6/2021
- Incentives are now available for Audi & Kia. 5/6/2021
- Lease price points are now available for Acura, Audi, Cadillac, Genesis, Jaguar, Land Rover, and Lexus (Eastern Region). 5/5/2021
- Incentives are now available for Acura, BMW, Buick, Cadillac, Chevrolet, GMC, Genesis, Mini, and Volkswagen. 5/5/2021
- Lease price points are now available for Alfa Romeo, Infiniti, Kia, Mercedes-Benz, and Volvo. 5/4/2021
- Incentives are now available for Infiniti, Jaguar, Land Rover, Lexus (Eastern & Central regions), Mercedes-Benz, Subaru, Tesla, and Volvo. 5/4/2021
- Estimated incentive spending has been revised for Nissan for March 2021. This change had a slight impact upon the total industry number as well. 5/4/2021
OUR EXPERTISE
Email hello@motorintelligence.com for customized reports, statistics and in-depth industry analysis including:
- Trend Analysis for Multiple Vehicles & Segments
- Featured Lease Price Points Analysis
- Marketing Programs Spending Analysis
- U.S. New & Preowned Vehicle Retail Sales & Stock
- North American Production Statistics
- New Vehicle Retail Sales - Canada
- Incentive Program Comparisons for New &
Preowned Cars and Light Trucks
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April 2021 New Vehicle Sales, CPO Sales, SAAR, Inventory and Incentives Spending reporting has been finalized for the month.
INCENTIVE HIGHLIGHTS
 2021 AVALON, CAMRY, HIGHLANDER, RAV4, SIENNA: Reduced customer cash by $500 - $750 and retail finance support by raising its special rates by 1% in a number of regions. Effective 5/4/2021 on Avalon, Camry, Highlander. 2021 EDGE: Eliminated the $1,000 customer cash that was available in April and reduced retail finance support by raising its special rates to 0.9% - 5.9% (from 0.0% - 4.9%). 2021 EXPLORER: Eliminated the 0.0% - 4.9% special retail financing offer that was available last month. 2021 EXPEDITION: Cut back on retail finance support by raising its special rates to 0.9% - 5.9% (from 0.0% - 4.9%). 2021 RANGER: Lowered customer cash by $250 (to $1,500 - $2,000). 2021 F-SERIES: Eliminated the $500 customer cash that was available last month and cut its Ford Credit retail bonus cash in half to $500. Effective 5/4/2021 on Edge, Expedition, Explorer, F-Series, Ranger. 2021 ALTIMA, MURANO, SENTRA, TITAN, VERSA: Lowered customer cash on Altima / Sentra / Versa by $250, on Armada / Frontier / Murano by $500 and on Titan King Cab by $1,500. 2021 TITAN: Reduced retail finance support by raising its 75 - 84 month special rate to 2.9% (from 0.0%). Effective 5/4/2021 on Altima, Armada, Frontier, Murano, Sentra, Titan, Versa. 2021 AVIATOR: Reduced retail finance support by raising special rates to 1.9% - 5.9% (from 0.9% - 4.9%) and halving retail bonus cash to $500. 2021 CORSAIR: Reduced retail finance support by raising special rates to 1.9% - 5.9% (from 0.9% - 4.9%). 2022 AVIATOR: Introduced lease support. Effective 5/4/2021 on Aviator, Corsair. 2021 ELANTRA: Raised customer cash on Limited to $2,500 (from $1,500) and APR bonus cash on SE / SEL / Limited / Hybrid by $500 (to $1,000). 2021 IONIQ PHEV: Significantly enhanced lease support, lowering its advertised payment by $60/month to $189/month for 36 months with $1,999 due at signing. 2021 IONIQ HEV: Enhanced special lease program, lowering its advertised payment by $40/month to $189/month for 36 months with $1,999 due at signing and doubled APR bonus cash to $1,000. 2021 IONIQ EV: Added $1,000 APR bonus cash to its 0.0% - 1.9% special retail financing offer. 2021 SONATA: Doubled APR Bonus Cash to $1,000. 2021 SANTA FE HYBRID: Launched support with $500 customer cash or 0.0% - 2.9% special retail financing or 1.9% - 2.9% plus $1,000 APR bonus cash and a special lease program, featuring an advertised payment of $339/month for 36 months with $3,599 due at signing. Effective 5/4/2021 on Elantra, Ioniq, Ioniq EV, Ioniq PHEV, Santa Fe Hybrid, Sonata.
MI INSIGHTS
- Incentive Spending Drops Dramatically in May
Automakers have steadily reduced their light vehicle incentive spending since the beginning of 2021. Incentive spending per unit has declined by nearly $700/unit so far this year, from $3,926/unit in December 2020 to $3,238 in April 2021. Spending is poised to completely fall off of a cliff in May 2021, driving record high new vehicle prices even higher. Incentives on conventional gasoline vehicles, particularly light trucks, are poised to fall by hundreds of dollars per unit month-over-month as just about every manufacturer slashed its cash incentives and raised its special retail financing rates this month. The only segments that continue to have strong incentive support are hybrids and electric vehicles. In fact, many OEMs increased their lease support dramatically on electric vehicles in May. General Motors slashed its advertised lease payment on the 2021 Chevrolet Bolt EV by $55/month to $225 per month with zero down. Similarly, Hyundai cut its advertised lease payment by $60/month on the 2021 Ioniq PHEV to $189 per month with $1,999 due at lease signing. Motor Intelligence on 05/07/2021
TRENDING NEWS
- Chip Shortage Forces Carmakers to Leave Out Some High-End Features
When automakers were first hit with chip shortages at the end of last year, they tried idling factories until the troubles blew over. But with the crisis stretching into its fifth month and getting worse, they’re getting creative to keep at least some production moving forward. Nissan is leaving navigation systems out of thousands of vehicles that typically would have them because of the shortages. Ram no longer offers its 1500 pickups with a standard “intelligent” rearview mirror that monitors for blind spots. Renault has stopped offering an oversized digital screen behind the steering wheel on its Arkana SUV -- also to save on chips... Bloomberg on 05/06/2021
- Microchip shortage extends downtime for Jeep Cherokee, Chrysler minivan plants
Plants assembling the Jeep Cherokee SUV and Chrysler minivans will idle for additional weeks due to the global semiconductor shortage, Stellantis NV said Thursday... The Detroit News on 05/06/2021
- Vehicle Incentives Drop To Lowest Levels In 5 Years
...average new-vehicle incentives of $3,102 for the just-completed month of April. That's down 28% from April 2020 ($4,297). This is the lowest level in five years, according to MotorIntelligence historical data. Forbes on 05/06/2021
- Ford to stop production at Bronco, Ranger plant for 2 weeks
Ford Motor Co. on Wednesday announced to employees that it is extending downtime at a number of North American plants because of the worsening semiconductor shortage. The production disruption is also expanding, this time shuttering Ford's Michigan Assembly Plant in Wayne — which makes the Ranger pickup and is gearing up to build the Bronco SUV — for two weeks later this month... Automotive News on 05/04/2021
- New Car Prices Are Skyrocketing This Spring
Buyers are paying more for new cars as average transaction prices rise. Ford cited an average transaction price of $43,600 in April. This is the result of low inventory and high demand for new vehicles causing automakers to reduce incentives... Car and Driver on 05/04/2021
SALES TREND
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Regional marketing incentives are changing faster than usual due to the current market conditions.
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