The next couple of Sundays might be good days to go kick the tires on that new pickup you’ve been eyeing, retail pricing data suggests.
Consumers looking to save on a new car or truck should do their shopping in August, according to the analysts at TrueCar Inc. New car and truck prices during the past five years in August have averaged $29,296 – $169 lower than any other month.
“This is a great example of the power of data, which shows dealers are clearing out older inventory in August,” says TrueCar founder and CEO Scott Painter.
Conventional wisdom used to be that December was prime time for new car and truck buyers, TrueCar notes. However, their data reveals that prices in December average $31,146 – the most expensive month for new cars and $1,850 higher than August.
As for days of the week, Sunday comes in at $29,300, that’s more than two grand less that Friday, at $31,351.
For large pickups specifically, however, the TrueCar data points to February, when buys save $363 compared the monthly average for the full year. For a small pickup, it’s May. (A hi-res version of the TrueCar graphic at right will download here.)
“Consumer buying trends have been turned upside down during the past decade due to the emergence of big data,” says Painter. “New car buyers are better educated because transparent pricing information is readily available at Truecar.com. And price–confident consumers create a better buying experience for themselves and car dealers.”