For the first time since 2009, automakers are offering generous rebates to lure buyers.
The big pickup segment has literally carried the Detroit Three to robust profitability.
- Some dealers are offering more than $7,000 off full-size pickups in a Presidents Day sale that extends through the end of February.
- The average time a new vehicle sits on a dealer’s lot reached 61 days in December, the longest since August 2009.
- Forecasters expect Americans will buy more than 16 million new cars and trucks this year.
- Used-car prices are softening, meaning buyers have to look for a less expensive new model or borrow more than they planned.
- Incentives might be a necessary evil for now.
- Buyers replacing 15-to-20 year-old trucks that have just worn out fueled the entire industry’s truck boom in the past two years.