Edmunds.com Warns Car Shoppers Not to Wait on Purchasing

Edmunds.com recently encouraged consumers considering purchasing another vehicle to move more quickly rather than waiting until the summer when deals usually go into full swing.

 

The company cautions shoppers that the typical summer deals may not be available this year due to supply shortages from the Japan earthquake and tsunami, as well as the ensuing price increases these shortages could lead to.

 

“Any production disruptions caused by the devastation in Japan have yet to be felt directly, but savvy consumers realize that it makes sense to buy sooner rather than later,” explained Jeremy Anwyl, chief executive officer of Edmunds.com.

 

“Given the situation in Japan, we expect that product shortages could arise for some models beginning in May. This year, it won’t make sense for car shoppers to wait until summer to get the best deals,” he stressed.

 

Over the last decade, Edmunds.com has generally found July to be the best month for incentive discounts on a new car or truck. Last year, the average July discount was 14.1-percent off sticker price, which the company said was the highest discount of the year.

 

However, the Japan quake and its impact on production is still being felt across the board a month later, with Japanese automakers feeling most of the brunt.

 

“Honda, Nissan, Toyota and Mercedes-Benz already appear to have unseasonable drop-offs in inventory, according to inventory data evaluated by Edmunds.com analysts. Honda is suffering the most: All four of Honda’s top-selling models — the Accord, Civic, CR-V and Insight — showed steep declines in inventory with last month,” analysts highlighted.