TAMPA, FL -- With two of the big three automakers in bankruptcy, some dealers seem to be working harder than ever to blow out their inventory. University of South Florida marketing professor Carol Osborne says the deals aren't just gimmicks.
"This is purely a market situation, not marketing," Osborne says. She says that market situation is ripe for buyers. Her first piece of advice, shop around.
"It really is the time to buy because of the inventory." Osborne says.
It is inventory that dealerships, like St. Pete Jeep Chrysler, has to move. "Well we basically have five days left to get rid of all of our new vehicles," says manager Travis Cowart. Cowart works at one of nearly 800 dealers Chrysler's dropping as of Tuesday.
Osborne says Chrysler and GM dealers losing their franchises are good places for new car seekers to start.
Cowart says he has 48 vehicles he needs to sell in the next five days. He'll wheel and deal but don't plan on getting a steal. "It doesn't make sense for us to lose $10,000 on a vehicle just to move it off our lot," he says.
Meanwhile, at Jerry Ulm Chrysler Jeep and Dodge, a dealer maintaining its franchise, cars that can’t be sold at dealer forced to close out of state are showing up on their lot.
Owner Jerry Ulm says his sales are actually up and he’s not sure how long the supply will outweigh demand.
"In fact we're up for the month of May about 33 percent on new vehicles compared to the first four months of the year," Ulm says.
Professor Osborne recommends shopping smart, but also shopping soon whether for a Chrysler or GM. "If I was looking for a Jeep I'd be looking this weekend or this month," she says.
And before you head to the dealer you might want to call or check online to see what they have in their inventory. No sense coming all the way out to look at cars that you don't want.
