Over the past decade, SUVs declined in popularity amid uncontrollably high gas prices. As gas became increasingly expensive, people exchanged their SUVs for more efficient vehicles – and as a result, SUV sales fell dramatically.
Recently, SUV sales dropped even more by a historic 18 percent, The Nashville Ledger1 reports. Manufacturing slowed, SUV prices shot up, and people ran away from SUVs.
Jenson / ShutterstockYet suddenly, SUVS are back on the road. So how have SUVs become more popular than ever today? For one, dealerships drastically decreased prices on unsold inventory because they needed to free up their lots. Secondly, manufacturers started making SUVs more fuel-efficient and decreased the starting prices on new SUVs significantly. Because auto companies need to increase SUV sales, drivers are finding deals and discounts almost everywhere they look.
A New ERA of SUV
Recently, gas prices started quickly declining from their record highs during the early part of this decade. Since April 2017, gas prices have fallen by as much as 11 percent each month according to CNN2, making it affordable to drive SUVs again.
But cheap gas prices aren’t the only reason for the sudden shift. Major auto manufacturers learned that consumers simply don’t have the appetite for a heavy, inefficient SUV that could cost them a third of their income at the pump regardless of gas prices.
To that end, starting just a few years ago, automakers crafted a new line of SUVs and crossovers designed to blend the size and comfort of SUVs with the performance and efficiency of sedans. With this development and an increased demand in the more fuel-efficient vehicles, manufacturers started upping production once again, leaving many dealerships with an influx of SUVS to get off their lots this year.
How You Can Find SUV Deals
Now more so than ever, new SUV buyers will benefit from incentives offered by dealers who need to make space for the new 2020 models arriving soon.
So, whether you want an SUV to take your family on a cross-country road trip before school starts, or your commute requires a fuel-efficient ride with cargo space, new deals are emerging as we speak.
Popular automakers like Ford, Fiat, and Nissan are giving drivers incentives on some of 2019’s top SUV models. The 2019 Ford Escape is offering an 84-month 3.9 percent APR along with a $3,750 retail incentive when financing.3 Fiat is incentivizing drivers to finance the 2019 500X with 3.75 percent APR for 60 months.4 The 2019 Nissan Rogue Sport is available for zero-percent financing for up to 36 months with up to $1,000 cash back.5
Additionally, Toyota is offering zero-percent financing and $1,250 cash back on the 2019 Toyota Rav4.6 According to U.S News, Buick, Jeep, and Honda are all following suit, offering great financing offers between zero percent and 1.9 percent on the newest models like the Encore, Grand Cherokee, and CR-V models.7
These are just a few of the deals we’ve spotted. As new models arrive at dealerships for the 2019 model year, incentives and pricing will likely change – and automakers are always ready to offer even better discounts on last year’s models still sitting on the lot. SUV incentives change each month, and sometimes even throughout the week according to US News. Search before you buy, and you’ll be able to compare different pricing and offers.
To get the biggest savings in your area, do your research, as many of the dealerships’ biggest deals are location-based. You could find yourself with even bigger savings than the above!
