- ALL MODELS: Replaced the 'AMG Cash Contest' that was available in February with 'Spring Event Bonus' cash of $1,000 on C-Class Sedan / GLC-Class SUV and $500 on all other models excluding G-Class, GLE-Class and GLS-Class. Effective 3/2/2021 on all Mercedes-Benz vehicles.
- Tight Inventory and Strong Retail Demand Continue to Push Incentive Spending LowerU.S. Market light vehicle sales fell 12.7% in February 2021 as a result of a difficult year-over year comparison to a pre-pandemic market, weak fleet sales, fewer selling days and terrible weather in the Southern United States, particularly in Texas which accounts for just under 10% of sales volume for the country. Those issues are temporary and retail light vehicle demand remains extremely strong. The biggest issue for the auto industry moving forward continues to be the global semiconductor chip shortage, which is forcing most automakers to throttle back production. After starting to show signs of recovery before the chip issue arose, light vehicle inventory levels have started to decline once again. As of the end of February, the U.S. Market Days' Supply had fallen to 53, from 60 at the end of January and 68 during the same period a year ago. Beyond the statistics, Motor Intelligence has confirmed the low inventory levels by speaking with hundreds of dealers and performing visual checks on increasingly empty dealer lots. This tight inventory situation is causing automakers to cut back on incentive spending. As we have been saying, there's no need to provide a high level of costly incentives on vehicles when demand remains high and dealers don't have enough product to sell. We expect the chip issue to continue to be a problem for manufacturers for the next several months. The tight inventory situation may not begin to show meaningful improvement until Q3 and may linger for the rest of 2021. As a result, look for incentive spending to remain significantly lower on a year-over-year basis for the foreseeable future. Motor Intelligence on 03/03/2021
- Ford to Mustang Mach-E Buyers: Sorry About Delays, Here's $1,000Quality is a top priority. For Mustang Mach-E customers who have experienced delays receiving their vehicles, we are providing an additional 250 kilowatt-hours of complimentary charging on the FordPass Charging Network. This applies to approximately 4,500 customers, including about 1,500 of whom have already received their Mach-E. In addition, Ford will provide $1,000 toward the purchase of a Mustang Mach-E for approximately 150 customers who have experienced more than one delay due to quality checks... Motor Trend on 03/04/2021
- Monthly auto loan payments surge to record highs as borrowing hits biggest one-year jump, Experian saysDon’t look now, but the average monthly loan payment for a new car is approaching $600 according to Experian, which analyzes millions of new and used vehicle loans. “We went up higher amounts year over year in 2020 than we ever really have before and hit record highs in loan amounts and record highs in payments,” said Melinda Zabritski, senior director for Experian’s automotive financial solutions team. CNBC on 03/04/2021
- Foam shortage looms over seating suppliers, auto productionAfter the unprecedented winter storm in Texas and other states last month, automakers and suppliers could be slammed by yet another devastating parts shortage that could idle seating plants as early as next week. The blizzard halted the region's critical petrochemical plants, which could lead to a shortage in automotive seating foam, industry sources say... Automotive News on 03/04/2021