With dealerships making way for 2016 inventory, the closing quarter of the year is one of the best times to be in the market for buying a new car, as incentives are high and prices are low. But if you're looking to a get a great deal, you might want to consider purchasing a Volkswagen, as the German automaker is selling a variety of models at rock-bottom prices.
Whether for diesel or unleaded, Volkswagen dealerships around the country have slashed asking prices on several popular models in the German automaker's attempts to drum up demand.
For instance, according to vehicle valuation firms Kelley Blue Book and Autotrader, the manufacturer's suggested retail price for VW diesel models slid nearly $2,000 per vehicle when comparing November to the same month in 2014. Similarly, for engines that consume unleaded regular, the average price has tumbled by over $1,100.
Michelle Krebs, Autotrader senior analyst, noted that in a classic case of Economics 101, overabundant inventory has the German automaker looking to offload what it hasn't sold.
"With plenty of Volkswagen inventory and most shoppers looking elsewhere, savvy consumers can take advantage of the opportunity to nab an attractive deal on a Volkswagen," Krebs explained. "Consumers can choose to go the gasoline route or can still opt for a diesel model when shopping used."
VW makes amends
It's been a rough year for Volkswagen, as throughout a good portion of the last 12 months, the automaker has made headlines for reasons having nothing to do with sales. It received criticism from the U.S. Environmental Protection Agency in September after being accused of installing devices that gave inaccurate emissions readings. This was done in an effort to skirt air pollution standards, something that VW has since admitted to.
However, the automaker is trying to make up for what many describe as subterfuge, having taken out full-page advertisements in more than two dozen major newspapers across the country, numerous media sources reported, including The Hill.
"Over the past several weeks, we've apologized to you, our loyal customers, about the 2.0L VW emissions issue," the letter in the advertisement reads, penned by VW chief executive officer Michael Horn. "As we work tirelessly to develop a remedy, we ask for your continued patience."
The letter goes on to state that VW is trying to make things right by providing owners of the models implicated in the emissions issue a $500 Volkswagen Dealership card that can be used at any of its licensed locations, expiring in three years.
Used VWs also selling for less
Not only have new-car prices dropped, but used VWs have as well. The average auction price for Volkswagen diesel models have decreased by more than $2,100 since September, KBB.com and Autotrader reported. Meanwhile, used gas-powered VWs asking values have reduced by $500 during the same period.
If you're looking to get a car this holiday without spending a bundle, you may want to check out what your local VW dealership has to offer.