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Price Cutting Storm IN Canada

 
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Old 28 Sep 2007, 05:07 pm
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Default Price Cutting Storm IN Canada

Price Cutting Storm IN Canada

Phil Edmonston, long the bane of car manufacturers and dealers, has good news for both buyers and sellers this year.

Right now, says the longtime consumer advocate and author of the popular Lemon-Aid series, in Vancouver promoting his latest books, we have the "perfect storm" for car buying, as a result of three events.

First, Chrysler, recently bought by Cerberus, has initiated aggressive price-cutting. Edmonston opened a paper to an ad showing a new PT Cruiser selling for $13,888. Not long ago the same vehicle was selling for much more, he says.

This price-cutting is putting pressure on other automakers to do the same. He points out another ad for an extended model new '07 GM minivan for $18,000.

"That's unheard of. These are normally around $22,000 to $23,000. What's happened is there is a great deal more competition than ever before."

Second, high fuel prices have "just whip-sawed larger vehicles into tens of thousands of dollar reductions" to try to move them. "When you get that kind of reduction, you can buy a whole lot of gas," he says.

Third, the higher value of the loonie should give us more buying power here in Canada and certainly south of the border, where 112,000 Canadians went in 2006 to buy new or used vehicles. However, because of issues like paperwork and non-transferrable warranties, Edmonston does not believe it's worth it to go to the States for a car purchase under $30,000 or so.

Here in Canada, the higher loonie will bring lower prices by giving the dealers and manufacturers a larger margin to sweeten rebates to the consumer and augment sales incentives to dealers.

When prices go down on new cars, it pushes the price down on used cars too.

Read more at
Car buyers' 'perfect storm'


Source: Canada.com
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Old 01 Oct 2007, 06:57 am
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Default Re: Price Cutting Storm IN Canada

I even heard an ad for "employee pricing" for Honda. After several years of high sales, I think the car market has to cool off - how many new cars can the market absorb?
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Old 26 Mar 2013, 06:54 pm
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Default Re: Price Cutting Storm IN Canada

Yeah, have you tried to buy PARTS for your PT???? No price reduction there. Whats really happening is the guys who bought $27,000 dollar or more PTs back in the day are now stuck (as in the dealers offer you 2-4 thou on a trade up) and THATS if your lucky and have a low milage PT in pristeen condition. Oh, and the labour rates havent gone down eather.
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Old 26 Mar 2013, 07:05 pm
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Default Re: Price Cutting Storm IN Canada

It's a very old thread. 7 years. The car prices have gone through the roof on older cars.
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Old 26 Mar 2013, 07:08 pm
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Default Re: Price Cutting Storm IN Canada

I think the very vast majority of posters here prefer the fact that they keep theirs in pristine condition and are savvy enough to shop for great aftermarket parts and take care of alot of the labour themselves.
.
That'll teach the dealers to try and dry hump us into trading "up" as you put it.
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Old 05 Apr 2013, 05:26 pm
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Default Re: Price Cutting Storm IN Canada

Quote:
Originally Posted by Busted_PT View Post
It's a very old thread. 7 years.
I guess the storm is over.
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