Holiday car deals move earlier: 4 things to consider
DETROIT (AP) — Lexus put the red bows atop its cars a month early, and General Motors is advertising Black Friday deals two weeks before Thanksgiving as the auto industry copies traditional retailers with holiday discounts well before the holidays.
Car buyers will reap good deals for a longer time, analysts say, as automakers battle to hold or increase their share of what likely will be record U.S. auto sales this year.
"The consumer is in a great spot to get a great deal," says Tom Libby, manager of industry analysis for the IHS Automotive consulting firm.
Lexus, Toyota's luxury brand, started its sales early as it tries to catch Mercedes and BMW, which in recent years have dueled to be the top-selling U.S. luxury brand.
Geoff Pohanka, whose Washington, D.C.-area dealership chain includes a Lexus store in Virginia, said the early promotion might not boost November sales, but it should help toward year's end.
GM's Chevrolet brand started advertising Black Friday sales in Detroit last week with the slogan: "Avoid the chaos, not the deals."
Automakers measure inventory by dividing the sales rate per day into the number of vehicles on dealer lots to figure out how many days worth of cars are out there.