Car companies that want to move the metal in big numbers have two options: update the product or offer incentives. Sometimes it's both but, for the most part, only when an updated model turns out to be a dud.
The restyled and re-engineered 2014 Toyota Corolla is an example of a successful update. It has been improved and restyled for 2014 and voila – October sales jumped 22.6 per cent, notes the latest top 10 sales report from DesRosiers Automotive Consultants.
Or consider the all-new 2014 Mazda3: "Mazda introduces its new Mazda3 and it's back into the game with sales up 52.4 per cent in October," says DesRosiers in a note to clients, adding that the all-new RAV4 introduced in February is also sailing along with year-to-date sales up 24.8 per cent – "the largest YTD (year-to-date) increase of any truck in the top 10."
Car companies with older models – models which have not been seriously improved in some time – often turn to incentives to keep consumers interested. The Hyundai Elantra and Nissan Sentra compact cars are perfect examples of this.
Faced with new competition from Mazda and Toyota, not to mention the Honda Civic – which got a serious facelift in the last year – Hyundai Canada and Nissan Canada have jumped in with richer offers. Unhaggle.com CEO and co-founder Andrew Tai says that both Nissan and Hyundai boosted incentives in the middle of November: up to $2,500 from an earlier $1,000 on the Sentra and up to $3,500 from $3,000 on the Elantra.
"There is a fierce battle going on in the compact segment, with Hyundai and Nissan still fighting to clear out 2013 models," he says.
A last lesson for buyers: the moves by Hyundai and Nissan illustrate how important it is to keep on top of changes in incentives. Both companies made moves in the middle of the month and others might do something similar on various models before the month is out.
Deals of the Week consulted with unhaggle.com, carcostcanada.com, and other sources on these offers. Pricing information here is subject to change and dealer discounts vary, so consult your dealer for all the final details, including expiry dates for all offers.
2013 Lexus RX 450h AWD with Ultra Premium 2
- MSRP: $71,400
- Freight, dealer prep, air conditioning tax: $2,095
- Dealer discount (estimated): $2,500
- Taxable subtotal: $70,995
- Total price with 13 per cent HST: $80,224.35
- Factory discount: $6,000 (Lexus Delivery Credit factory-to-dealer rebate for cash purchases only)
- Final price: $74,224.35
- $2,000 factory rebate available with 1.80 per cent financing for three years
2013 Hyundai Elantra four-door sedan Auto GLS
- MSRP: $21,299
- Freight, dealer prep and air conditioning tax: $1,595
- Dealer discount (estimated): $500
- Factory discount: $3,500 (Hyundai Dealer Cash/Stackable Cash factory-to-dealer rebate)
- Taxable subtotal: $18,894
- Total price with 13 per cent HST: $21,350.22
- $1,000 factory rebate available with 0.99 per cent financing for 84 months
2013 Volkswagen Tiguan four-door Auto Highline 4Motion
- MSRP: $37,440
- Freight, dealer prep, AC tax: $1,710
- Dealer discount (estimated): $1,500
- Factory discount: $1,000 (VW 2013 Build-out Bonus factory-to-consumer rebate)
- Factory discount: $1,500 (Dealer Cash factory-to-dealer rebate)
- Factory discount: $750 (VW Owner Loyalty Program factory-to-consumer rebate)
- Taxable subtotal: $34,400
- Total price with 13 per cent HST: $38,872
- $1,000 factory incentive available with zero per cent financing for 48 months
2013 Nissan Sentra four-door sedan CVT SV
- MSRP: $18,848
- Freight, PDI, AC tax: $1,667
- Dealer discount (estimated): $500
- Factory discount: $2,500 (manufacturer incentives)
- Taxable subtotal: $17,515
- Total price with 13 per cent HST: $19,791.95
- Zero per cent financing for 60 months not available with cash incentives
Pricing information source: unhaggle.com and carcostcanada.com. Calculations based on Ontario customers. Please note that while the information above is accurate at the time of publication, incentives are given at the discretion of individual dealers, and may be changed or discontinued at any time. Where noted, "dealer discounts" are negotiated with the customer on a case-by-case basis. Unhaggle Savings are actual discounts received by Unhaggle customers.
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