Return to Transcripts main page
CNN Live At Daybreak
Year-End Car Deals: Automakers Push Deals to Reach Sales Goal
Aired December 30, 2003 - 06:16 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little 'Business Buzz' now. In the market for a new car, you've got two days to get a year- end deal.
Sasha Salama has the story live from the Nasdaq market site.
Good morning.
SASHA SALAMA, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.
And you're right, this may be the best time, if you are in the market for a car, to go out and find a good bargain. The automakers know that a lot of people are off on this week between Christmas and New Year's and they are trying to boost their year-end sales. In fact, Chrysler, Ford and some Asian automakers have upped their incentives before the end of the year.
For example, GM giving an extra $1,000 a vehicle to dealers who do better in December than they did in November. Often the dealers will pass that on to consumers. Chrysler is offering up to $5,000 in cash or zero percent financing for six years on its minivans. And just back to GM for a second, some regional deals. You may get some deals in some southwest market or in the northeast, an additional $1,000 off if you go for a GM Chevy Silverado or a GMC Sierra pickup.
Deals, though, are geared to the buyer's zip code. So don't think that going to the next state to get a good deal is necessarily going to benefit you, because your zip code is what is key. So you may not want to make that trip.
Experts say you've got to be a tough negotiator, though. As a consumer, know that the dealers are trying to get these cars out of their lots before the end of the year, and that means tomorrow. So you're really in the driver's seat when it comes to finding some good deals. So keep that in mind.
The forecast for auto sales this year, 17 million, and that would be about half a million ahead of estimates before the spring. So good luck if you are in the market for a new car -- Carol.
COSTELLO: Thanks for the advice. Sasha Salama reporting live from the Nasdaq market site.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Goal>
Aired December 30, 2003 - 06:16 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little 'Business Buzz' now. In the market for a new car, you've got two days to get a year- end deal.
Sasha Salama has the story live from the Nasdaq market site.
Good morning.
SASHA SALAMA, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol.
And you're right, this may be the best time, if you are in the market for a car, to go out and find a good bargain. The automakers know that a lot of people are off on this week between Christmas and New Year's and they are trying to boost their year-end sales. In fact, Chrysler, Ford and some Asian automakers have upped their incentives before the end of the year.
For example, GM giving an extra $1,000 a vehicle to dealers who do better in December than they did in November. Often the dealers will pass that on to consumers. Chrysler is offering up to $5,000 in cash or zero percent financing for six years on its minivans. And just back to GM for a second, some regional deals. You may get some deals in some southwest market or in the northeast, an additional $1,000 off if you go for a GM Chevy Silverado or a GMC Sierra pickup.
Deals, though, are geared to the buyer's zip code. So don't think that going to the next state to get a good deal is necessarily going to benefit you, because your zip code is what is key. So you may not want to make that trip.
Experts say you've got to be a tough negotiator, though. As a consumer, know that the dealers are trying to get these cars out of their lots before the end of the year, and that means tomorrow. So you're really in the driver's seat when it comes to finding some good deals. So keep that in mind.
The forecast for auto sales this year, 17 million, and that would be about half a million ahead of estimates before the spring. So good luck if you are in the market for a new car -- Carol.
COSTELLO: Thanks for the advice. Sasha Salama reporting live from the Nasdaq market site.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Goal>
