buying Don't expect the classic Memorial Day car deal this weekend
The 2021 BMW M5 Competition is much easier to live with
Retuned suspension components make the BMW M5 a little softer, resulting in a much more comfortable daily driver.To give you some context, the previous M5 Competition was so stiffly sprung that it made this sport sedan almost unlivable day to day. Even in the suspension's default Comfort setting, you could feel every little bump and blemish. It was kind of a nightmare.
This will not feature the blowout, excellent deals car buyers are used to over the holiday. Instead, pent-up demand following the most stringent -related shutdowns and the ongoing created the perfect storm. Demand is up and supply is down. Basic economics tells us that leads to higher prices, and JD Power's May sales forecast shows that's exactly the case.
Released Thursday ahead of the holiday weekend, JD Power's forecast shows auto sales continue to boom following the worst of the pandemic. Retail sales are expected to rise by 34% compared to May 2020, and grow by 10.6% compared to May 2019, for a non-COVID-19-related baseline.
Mercedes CLS gains starry grille and tech-loaded steering wheel for 2021
Mercedes-Benz A year after Mercedes-Benz gave the third-gen CLS-Class a generous mid-cycle refresh, it’s sprinkling on a few extra goodies. As of last summer, the suave, swoopy Benz sedan received an updated MBUX infotainment system and a raft of driver-assist tech that we recently sampled on the model’s more sedate-looking brother, the E-Class. As of early […] The post Mercedes CLS gains starry grille and tech-loaded steering wheel for 2021 appeared first on Hagerty Media.
Now, as for why those Memorial Day deals will likely be scarce, here's the data. JD Power showed automaker incentive spending is expected to fall to just $3,000 this month on average. In other words, car companies are only ready to put $3,000 on the hood of a car to move it. And that's on average, so your mileage may vary in this market. The figure's down from nearly $5,000 in incentives this time last year, and back to our pre-COVID baseline, down from about $4,000 in May 2019. Automakers don't need to entice buyers if there's already so much demand and too few new cars to go around. The forecast puts the in May 2021 at $38,255 and the expected average new car loan payment is $596.
There remains a single, solitary ray of hope for car buyers who need to step into a new car: . With new vehicle inventories down significantly, used car prices remain on the up. In turn, buyers trading in a vehicle continue to receive much higher values. According to JD Power, buyers should on average expect to receive $6,201 more when trading in their car -- a 108.7% increase compared to May 2020. The extra cash can go a long way towards a new car, but those screamin' good deals likely won't be around this weekend.
Who's loving the semiconductor chip shortage? Car dealerships
With inventory so tight, car buyers are ready to pony up and pay sticker price.Reuters reported on the state of the industry on Monday and profiled a couple of dealerships caught in the middle of eager car buyers and too little inventory. It's a simple story of supply and demand: Automakers can't build enough new vehicles, due to chip shortages, and car buyers want them. In turn, many buyers have no problem paying sticker price and foregoing the wheeling and dealing that can knock a couple grand off the MSRP. Dealers get to keep even more cash in their pockets and buyers get their new car. Record profits ensue.
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We want to know what you want to read! Here at Motorious, we cover a large variety of cars, because our readers come from a large variety of backgrounds. From the casual restorer of American muscle, to those who curate the most elite European cars in the world, we've got you covered, but we want to hear from you. Based off of what you have read on Motorious, which is your favorite hobby segment? © Provided by Motorious Here are some of the coolest stories on Motorious from each segment type: MuscleEncompasses muscle cars from all eras, including modern muscle.