December 2, 2004 11:25 AM
Bargains On Stranded Cars
Excerpt: Data from Edmunds.com and the Power Information Network, an affiliate of J.D. Power & Associates, both show that 2004 models are making up a larger percentage of sales this fall than in the past. The trend means better bargains available for car buyers willing to take those older model vehicles. It also means still thinner margins for automakers, especially General Motors Corp. (Research), which apparently had the most 2004 models left on the lots in October.
Automakers are having a harder time clearing their lots of the previous year's models, according to two leading auto sales trackers.
Data from Edmunds.com and the Power Information Network, an affiliate of J.D. Power & Associates, both show that 2004 models are making up a larger percentage of sales this fall than in the past.
The trend means better bargains available for car buyers willing to take those older model vehicles. It also means still thinner margins for automakers, especially General Motors Corp. (Research), which apparently had the most 2004 models left on the lots in October.
Edmunds data shows 2004 models made up 54 percent of new vehicle sales in October, compared to a year earlier, when 2003 models made up only 45 percent of October sales. In October 2002 only 31 percent of the new vehicles sold were 2002 models, according to Edmunds.
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