best new car incentives

New Car Deals: Is Memorial Day a Good Time to Buy a Car?

By on May 28, 2023

Many companies featured on Money advertise with us. Opinions are our own, but compensation and in-depth research determine where and how companies may appear. Learn more about how we make money.Memorial Day weekend is one of several holidays the auto industry celebrates with sales and special marketing, but does that mean it’s actually a good time to shop for a new car? For similar reasons as mattress companies, department stores and other businesses, automakers and car dealerships run Memorial Day promotions aimed at increasing sales around the long weekend. It can be difficult to parse the difference between a…

Car dealerships encounter more shoppers paying cash

By on May 20, 2023

“What’s causing that is that so many people have gotten sticker shock” at the interest rates available, Eleazer said. Customers are not aware of the rise in interest rates that have taken place since the first quarter of 2022. When a customer whose last loan had a 2.9 percent APR is offered 7.9 percent today, “they’re about to lose their mind,” he said. As a result, customers opt to pay cash instead. “It’ll level out,” Eleazer said. “It always says.” Interest rates today are like those before the 2008 financial crisis, he said, a point he also makes for customers.…

US House committee chair ‘concerned’ by Tesla deals in China | Automotive Industry News

By on April 30, 2023

The leader of a United States congressional committee on China has expressed concern about electric carmaker Tesla’s dependency on China, a day after the company revealed plans to open a Megapack battery factory in Shanghai. Tesla announced the factory in a tweet on Sunday, and Chinese state media said it would initially produce 10,000 Megapack units a year, equal to around 40-gigawatt hours of energy storage, and complement a huge existing Shanghai plant making electric vehicles. Mike Gallagher, the Republican chair of the House of Representatives’ select committee on China’s Communist Party, said on Monday he would like to know…