buying Want a deal on a new car or truck? Buy an 'old' model that's sold as a 'new classic'
Electric Pickup Truck News: Tesla Truck On Track, Expensive Bollingers
The Tesla truck reveal is on schedule, plus Bollinger prices its B1 and B2 truck/SUV out of reach for most. Electric pickup trucks are a super hot segment these days with the Tesla Truck, Rivian R1T, Atlis XT pickup, Ford F-150, Bollinger B1 and B2 and now even a Fisker pickup leading the charge. Let's check out some news highlights this past week in the world of electric trucks. It was an exciting week in the world of electric trucks. InsideEVs posted on Bollinger revealing pricing for its pair of rugged electric off-roaders.
Frustrated with the rising price of new cars, but don't want to buy used?
Now you just might be able to find the sweet spot: a new car that's cheaper because it's actually not that new.
Automakers are trying a different approach to the longstanding process of phasing out models and introducing new ones: As always, they're rolling out redesigned cars, trucks and SUVs to showrooms with new technology and styling. But they're also continuing to make and sell the body style from the previous model year.
That means customers have a couple of options: They can save thousands of dollars by choosing the previous design, getting a vehicle that might be free of the kinks that often need working out in redesigned models. Or they can pick the redesigned vehicle with better safety systems and technology that might hold up in value for a longer period.
Ford Mustang Mach-E electric SUV leaks ahead of LA debut
Ford's Mustang-inspired, all-electric SUV packs up to 300 miles of range and a starting price of $43,895. But, you'll have to wait a bit longer to get all the details.It looks pretty good, actually. We're especially digging the classic frenched taillights and the trapezoidal grille in the front, as well as the prominent rear haunches that help to give it more than a little Big Pony Energy.
Case in point: the Ram pickup.
Fiat Chrysler's recent decision to continue making the previous Ram – and call it the Ram "Classic" – while also selling a redesigned model – has been a hit. The strategy helped propel the truck past the Chevrolet Silverado for the first time, making itbehind the Ford F-series pickup.
Ram v. Silverado:
'Only one person knows' buyer:
The achievement might not have been possible without the strategy of selling an "old" vehicle as "new."
The Classic Ram is the right choice “if you’re looking for a work truck and you’re less concerned about the bells and whistles," said George Augustaitis, director of automotive industry and economic analysis for vehicle-shopping site, noting that a Classic Ram buyer might "just need something that can tow, that has a strong payload, has a rear bench and can seat five or six. This is how Ram was able to overtake Silverado in 2019,” Augustaitis said.
Is the End of the Year Really a Good Time to Buy a Car?
If you’ve been thinking of getting a new set of wheels, you might be tempted to check out those seasonal promotions. © Photo: ShutterstockUsed car sales are up and new car sales are down, according to Jessica Menton at USA Today, which makes dealers extra amped to unload some of their lingering inventory. On top of that, the federal funds rate cuts this year have led car loan interest rates to drop.
Fiat Chrysler, the parent company of Ram, declined to comment because its strategy is competitively sensitive.
The price difference between the older model and the newer model can be significant. In 2019, the average transaction price for the redesigned Ram crew-cab pickup was $50,199, according to car-valuation firm . But the average transaction price of the Ram 1500 Classic crew-cab in 2019 was $43,649.
For shoppers looking for a new vehicle, there are reasons beyond price to consider when buying the previous generation of a new model. They might prefer the older design or prize a reliable track record over newness. Models that have been manufactured for several years typically have fewer bugs than newer models, which can take a while to eliminate, said Karl Brauer, executive publisher of Cox Automotive’s Kelley Blue Book and.
While it might sound counterproductive for an automaker to sell the old body style at a discount to the latest model, there’s a good reason for it. The automaker has usually already paid off the factory and engineering investments required to make the original model.
Relive the Muscle Car Glory Days in This 1970 Chevelle SS
It was one of the most successful muscle cars ever madeIn 1963, the Chevelle's very first year, Chevrolet sold 338,286 Chevelles. For some contemporary context, Chevy has sold just over 305,000 Camaros over the last five model years. Over the next few years the Chevelle's success would only grow, and in 1966 and 1967, Chevy sold over 850,000 Chevelles across all of its body styles.
“When you think about it, it makes total sense,” Brauer said. “The cost on the vehicle is much lower than the new one, so every time they sell one it’s a huge profit margin for them.”
What’s more, automakers sometimes like to extend the life of the previous model to sell off excess inventory or to catch a flock of consumers seeking a discount, said Jeff Dyke, president of, one of the largest auto dealer networks in the country.
“They’re getting the most out of a consumer that likes the old body style,” Dyke said. “So it actually enhances sales. They’re producing it to ride that wave.”
Another recent example was the Volkswagen Tiguan. When VW redesigned the Tiguan in 2017, making it sleeker and larger, the company continued selling and makingthe previous model SUV for about two years at a significant discount.
The price gap between the two vehicles was more than $5,000 in 2018, according to Kelley Blue Book: an average of $28,068 for the new SUV compared with $22,975 for the Tiguan Limited, which was discontinued after the 2018 model year. The company sold 19,220 units of the Tiguan Limited in the time it was available.
Ultra-Rare Restored 1971 Plymouth Hemi GTX Sold For $253K At Mecum
This rare classic gem was the highest-selling car out of 1,000 listings ranging from exotics to hot rods. One classic muscle car stole the show at the four-day Mecum Auction in Dallas, Texas. That car was this rare 1971 Plymouth Hemi GTX that sold for a staggering $253,000, the highest selling car to cross that auction stage. Out of 1,000 cars from all different categories, this classic GTX muscle car outsold every single one.
“The thinking behind it was pretty simple: The new Tiguan was bigger and slightly more expensive, so we sold the Limited alongside the new car for anyone who wanted the smaller package,” VW spokesman Mark Gillies said in an email.
Further back, Nissan continued making and selling the previous version of its most popular SUV, the Rogue, as the Rogue Select for at least two years while it launched the redesigned version in 2014. In 2015, the price gap between those vehicles was nearly more than $5,000.
“There is definitely that phenomenon where you’ve got a large audience that likes that old body style,” said David Smith, CEO of Sonic Automotive. “And generally speaking, there’s some incentive to buy that older model. Maybe they get 0% financing. Maybe the brand-new model doesn’t have that.”
Augustaitis of CarGurus said automakers may want to consider expanding the strategy due to the increasing price of vehicles, which averaged $38,377 in December, up 3% from a year earlier, according to car-research site.
“As affordability becomes a headwind, this is something that I think brands are going to have to start looking at” more often, he said.
To be sure, the previous model is often targeted largely at fleet buyers, which include rental car companies, other commercial buyers and governments.
But savvy shoppers can probably track down the older model. Brauer said the previous-generation vehicles are typically available to retail buyers, too.
“I don’t know if it’s advertised as aggressively,” he said. “But I think if you went to a dealer and you knew and you say, ‘Hey, I know this one’s still for sale, can I get it?,' they’d probably be like, ‘OK,’ and you’d hopefully get some kind of price break.”
Follow USA TODAY reporter Nathan Bomey on Twitter @.
This article originally appeared on USA TODAY:
2020 Nissan Frontier gets the next-generation pickup's new V6 .
Yep, the Japanese automaker is putting a brand-new engine and transmission combo in the same old Frontier body.Naturally, Nissan is aware of this situation and it's feverishly developing an all-new Frontier, which should debut before the year's end. It will be built in America, specifically for American drivers.
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