The most obvious positive for buyers is also the most obvious to see perusing dealer lots. According to the latest report from J.D. Power, new-vehicle inventory was up 3.2% month over month in April and up a whopping 40% from the same time in 2023. Transaction prices are also continuing to decline, down 2.5% year over year during the same period. Crucially, with vehicles spending an average of 44 days on lots (up 14 days from April 2023), incentives are also on the rise, with average incentives up 1.9 percentage points from April 2023.
2024 Chevrolet Malibu
Factory discount: $1,750-$2,000
Approximate price after savings: $24,500-$33,000
Approximate factory savings: 6%-7%
Offer ends: June 3
Let’s begin with the humble Malibu sedan. We’ll admit it: The headline we wrote last July about the 2024 model wasn’t done with any inside information, but anyone paying attention could see the Malibu was on the chopping block; sure enough, Chevy announced in early May that the ’24 model will be the last (for now, anyway; it wouldn’t be the first time the Bow-Tie brand furloughed the nameplate). That means it’s time to clear out inventory, which means dealers should be eager to pony up the cash discounts of as much as $2,000 off the 1LT and 2LT trims. Alternatively, shoppers can get 1.9% financing for 36 months on said LT trims, though the LS and RS are exempt from that deal. All such offers expire June 3.
2024 Jeep Grand Cherokee
Factory discount: $1,500-$4,000
Approximate price after savings: $37,500-$76,500
Approximate factory savings: 4%-6%
Offer ends: June 3
If I had a nickel for every time the Grand Cherokee made one of our best deals stories, I’d probably have enough to afford one by now. But Jeep’s venerable two-row SUV always seems to have some money on offer for those interested, and it’s no different this weekend: Through June 3, shoppers can find discounts of up to $4,000 on certain trims and percentage discounts north of 6%. As ever given the Grand Cherokee’s myriad permutations — that’s three Laredo variants, though you may want to skip the deal-deprived Laredo A — your exact discount depends heavily not just on trim level, but also on region. Financing of 3.9% for 36 months on lower trims or 6.9% for 72 months on the mid-grade Limited were also available in the regions we surveyed.
2024 Hyundai Elantra
Factory discount: $1,000-$1,500
Approximate price after savings: $21,500-$29,000
Approximate factory savings: 3%-7%
Offer ends: June 3
Another car flying the banner for the woebegone sedan body style, the Elantra comes in a number of configurations, including a hybrid and the performance N variant. For present purposes, we’re excluding both in favor of the gas-only Elantra’s main trims: SE, SEL, Limited and N Line. Cash discounts range from $1,000 to $1,500, trim and region depending, while financing is available at 3.89% for 48 months. All such offers expire June 3.
Editor’s Choice: 2024 Hyundai Tucson
Factory discount: $1,250-$2,000
Approximate price after savings: $27,000-$39,000
Approximate factory savings: 3%-7%
Offer ends: June 3
There’s a mid-cycle refresh on the way for the 2025 Hyundai Tucson SUV after a full 2022 redesign, most of which address some questionable interior choices. That means dealers may be more eager than usual to move ’24 Tucsons off lots, which is reflected in factory-backed discounts we found that range from $1,250 up to $2,000 off in the regions we surveyed. Alternatively, shoppers can also find financing of 3.99% for 60 months across trims. As with the rest, all such offers expire June 3.
