Yesterday, the Wall Street Journal reported:
Mercedes, Jaguar BMW and Others Jump Into U.S. Price Wars.
Highlights of the article:
European auto makers are jumping into the price war in the U.S. market. THEY JUST DON'T WANT YOU TO KNOW IT.
Volkswagen AG -- whose chief executive has regularly scoffed at the big rebates offered by U.S. rivals -- has begun offering 0% financing on almost all its models this summer. Included in the deal is the $40,000 Touareg, the upscale sports-utility vehicle that has been on dealers' lots for barely a year.
BMW AG, which prides itself on not budging from sticker prices, is now putting $4,500 in dealer incentives on its Z4 Roadster, a sporty two-seater that was launched less than two years ago. The auto maker is trying to keep the discounting below the radar by giving the cash to its dealers, instead of offering it directly to buyers. Dealers are then free to use it however they want, for instance trimming the car's $34,000 sticker price or negotiating cut-rate leasing deals. BMW is now also subsidizing loans, offering 1.9% financing on the car.
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Full WSJ article here.