Thursday, December 25, 2008

Honda Toyota new and used car price

With current global economy situation where there are high unemployment rate, falling real estate value, and negative stock market performance, etc., Toyota announced will lose money this year; and Honda has lowered its profit estimates.

Would anyone who is familiar with the U.S. car retail business comment on how this will be reflected on Honda and Toyota new and used car price?

I would imagine for new car, there will be higher incentive or rebate to customers. For used car, the price would probably go lower.

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2009 Honda CRV:
1/6/2009 - 2/2/2009 - $500 cash to dealer (marketing support)

2009 Toyota Matrix:
1/8/2009 - 2/2/2009 - $1000 cash to customer

2009 Toyota RAV4:
1/8/2009 - 2/2/2009 - $1500 cash to dealer (marketing support)

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1/24/2009 update:

All 2008 and 2009 Chrysler, Dodge and Jeep vehicles will be available at prices similar to those Chrysler employees pay -- typically thousands of dollars below the sticker price.

In addition, customers will receive discounts of up to $3,500 on 2009 vehicles and $6,000 on 2008 models.

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