Unbeatable EV Incentives: Rev Up Your Chrysler, Dodge, and Jeep Experience with Limited-Time Offers Near Year’s End

The Great End-of-Year Auto Sales Frenzy: What You Need to Know

As the clock ticks down to the end of the year, the auto industry is gearing up for its most intense sales push yet. With sales slowing down, automakers and dealerships are scrambling to clear out inventory, and it’s expected to get quite competitive out there.

A 60% Spike in Incentives: What’s Driving the Frenzy?

According to Kelley Blue Book, new vehicle incentives shot up by 60% in October compared to last year. This trend is likely to continue, with many automakers working to clear out their inventory before the year wraps up. "It’s the season for automakers to make their final push for 2024 sales," says Erin Keating, a Cox Automotive analyst. "While some may focus on managing production, many will likely maintain or even increase their seasonal incentives to attract buyers."

The Ranking So Far: Who’s Offering the Most Incentives?

In October, eight automakers offered incentive packages amounting to more than 10% of the average transaction price. And all four of Stellantis’ U.S. brands – Chrysler, Dodge, Jeep, and Ram – were above the industry average. On the flip side, Porsche, Toyota, Land Rover, and Cadillac continued to have the lowest incentive spend, according to Kelley Blue Book.

The Electric Vehicle Effect

EVs have been making a significant impact on the market, with October’s average incentive package reaching an astonishing 13.7% of the average transaction price. This is more than double the year-earlier level, when incentives were just 5.6% of ATP. On average, EV incentives have hovered around 11% of ATP this year, significantly higher than the industry average.

Year-End Deals Beyond New Vehicles

The end-of-year onslaught isn’t limited to new vehicles or even incentives. Car rental company Hertz, for instance, has been slapping major discounts on popular electric models like Teslas, Chevrolet Bolt EVs, and Hyundai Kona electric SUVs in an effort to offload its massive surplus of 30,000 used EVs.

Don’t Forget the Federal Incentives!

The clock is ticking on the federal tax incentives for electric vehicle purchases – $7,500 for new vehicles and $4,000 for used ones. With these deals set to expire soon, it’s the perfect opportunity for drivers to snag a great deal on their dream EV.

Get Ready to Score a Deal!

With the year-end sales frenzy in full swing, it’s time to buckle up for some serious negotiating. Whether you’re looking for a new or used vehicle, or just a sweet deal on a shiny electric ride, stay tuned for the latest updates on the best end-of-year offers out there.

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