Fridays and November Not the Best Time for Car Deals, Edmunds.com Reports
November 30, 2009

If you thought you missed out on best-of-the-year car deals on Black Friday, forget about it. If last year is any indication, December is the best time to get a great deal.

Neither Fridays nor November are the best times to get the biggest discounts on cars and trucks, according to Edmunds.com's analysis of the past four years of sales transaction data.

Rather car shoppers can look for some of the best deals in December and January.

Based on the past four years of Edmunds.com sales transaction data, including 2009 year to date, Edmunds.com examined during which months and on which days and dates consumers negotiated the biggest discounts off sticker price. Highlights of that analysis showed the following:
 
- The biggest discounts occurred most frequently in December, March and January, in that order;
- This summer's Cash for Clunkers program skewed tradition a bit by pushing July and August to months with next most frequent days for the biggest discounts. They tied with February and October.
- April had only one day in the past four years that saw consumers getting a good discount;
- Aside from April, November matched June and September for the fewest number of days in which consumers got the best deals.
 
December 2008 had the most days in four years - 17days to be exact  - in which consumers got the biggest discounts. Those discounts spilled over into January 2009.  Of course, those months followed the start of the  September 2008 collapse of Lehman Brothers, which sent the economy into an unprecedented tailspin. Shortly after, the contentious Congressional hearings were held on domestic automaker bailouts, ultimately leading to the Chapter 11 bankruptcy filings of General Motors and Chrysler.

In terms of days, the biggest discounts came on Saturday. -- Michelle Krebs, Senior Analyst and Editor at Large

Posted by Michelle Krebs at 12:13 PM under Analysis , Companies , Featured | Comments (2) | digg this | Seed Newsvine

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