Reporting Brad Segall
Filed underAutos, Autos News, Business & Economy, Consumer News, Heard On, Local, News, Philadelphia, Syndicated Local, Watch + Listen
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By Brad Segall
EAST NORRITON, Pa. (CBS) — A web site that gathers car-buying data for consumers says today, April 10th, is the worst day of the year to buy a car.
But a local auto expert says you really need to look at the big picture.
TrueCar.com says buyers will only get a little more than five percent off the sticker price now, compared with about nine percent they got in late December.
Kevin Mazzucola, executive director of the Automobile Dealers Association of Greater Philadelphia, says incentives on cars are down about $40 from this time last year, but he says sales are strong.
“The marketplace has gone from 12.8 million vehicles to, some predict, well over 14 million,” Mazzucola tells KYW Newsradio, “and usually when that happens there needs to be large incentives to do that. And now there are just stable incentives.”
He says people are finally getting around to replacing an aging fleet of cars that on average they’ve been driving for eleven years.
He also attributes the strong sales to more readily available credit and an increase in the number of people leasing cars. He says that’s due to a strong used car market.