There are typically two “best times” of the year to buy a new SUV. July through October is a good period for new SUV deals, as automakers want to sell off the prior year’s models to make way for the new model year. For example, most 2011 SUV models are on sale by this time. Buyers can save thousands of dollars on 2010 SUV models.
The other best time to buy a new SUV is in December. While many consumers are more preoccupied with shopping for Christmas gifts, car dealers are typically fretting over their year-end sales numbers. Many offer excellent deals this time of year cutting prices to increase their numbers and clear out inventory for new SUV models.
August 2010 sales numbers are out and show that sales have slowed. While 2010 got off to a good start, sales dipped to an annualized selling rate of 10.8 million units, making it the slowest sales month since February 2010. In comparison, in July 2010, automakers’ sales rate was 11.6 million units. In August 2009, many automakers had their best sales month of the year, as it was at the height of the “Clash For Clunkers” program, along with other incentives offered.
For example, the best selling SUV in the U.S., the Honda CR-V, sold less than 20,000 units in August 2010, while in August 2009, Honda sold just over 30,000 CR-Vs. Despite this drop, the crossovers and SUVs were the top selling vehicle segment in the U.S. in August 2010, selling 290,371 units. However this was down 11.5 percent from July 2010. August is typically one of automakers’ top sales months.
This sales drop may spur automakers to offer better deals to consumers this fall. This in combination with some outstanding 2011 models coming out, may make this fall a great time to buy a new SUV. Get into dealer showrooms early to beat the increased demand for SUVs as inclement weather arrives.