Is The City You Love Making You
Pay More Money For The Same Car?
[Wait Or Buy Honda Pilot 2017]
by Bill Flitter
Steady Sales, Growing Inventory: Is Now The Right Time To Buy A Honda Pilot?
At the start of June, the number of Honda Pilots sold nationwide was a small 3,278 cars. Especially when compared to the 11,998 vehicles available for purchase. The average inventory gap – or the vehicles sold compared to the inventory available on car lots – has been -5 percent for the last 12 months. The current gap, however, is 18 percent. It will continue going up Further throughout June. According to Carjojo data, the inventory gap at the close of the month will be right around 31 percent.
Year-over-year sales are comparable. In fact, in May 2016 8,364 Honda Pilots sold. Last month that number was 9,072. The greater discrepancy comes in what is available to buy. After sales in May 2016, there were 5,591 Honda Pilots available nationwide. There were 11,188 left over in May.
With numbers like these, it’s easy to see it’s a buyer’s market for the Honda Pilot.
But, not everywhere.
Should I Wait Or Buy Honda Pilot?
Another key metric to measure is the ‘days on lot’. The supply and demand of a particular make and model is considerably affected by the average number of days these vehicles are spending on lots before being sold.
The average number of Honda Pilots sold per day over the last 12 months was 289. June’s current pace is comparable. Around 273 Honda Pilots will be sold per day in the month of June. But, in some cities, these vehicles are sitting on car lots for nearly two months. In San Francisco, 56 days is the average number of days spent at the dealer before being sold. In other cities, like New York, the Honda Pilots they get spend less than three weeks on the lot, averaging right around 20 days. Nationally, a Honda Pilot will spend 35 days on a car lot before being purchased.
All of which plays a contributing part to the price these Pilots are going for in these cities.
The Price of the Pilot: Where to Go
Dallas, TX, is home to the lowest price for a Honda Pilot. The average cost is around $26,011. In that market, the inventory and sales gap is around 64 percent. We’d give the green light and encourage potential buyers to make a move to buy if they’re considering it. (Check Carjojo for the lowest price in your area.)
The city where a buyer will pay the most for a Honda Pilot is St. Louis, MO, where the average cost per vehicle is $35,444. Compared to Dallas that’s a difference of nearly $9,500. However, the inventory and sales gap is much smaller, 14.29 percent to be exact. We’re on the fence about St. Louis and would say, if you have to have a Honda Pilot, buy it. But, if you can wait it out for a couple more months to see what the numbers are going to do. Or if you have a contending vehicle with a clearer supply-and-demand curve, maybe continue researching.
Out of the 20 metro markets we analyzed, we would encourage people to buy in 13 of those cities, with the top markets being Miami, FL, and Houston and Dallas, TX. The average cost per vehicle in those metros is $28,320. Their inventory and sales gaps favor the buyer, at 78.88 percent, 68.52 percent and 64.37 percent respectively. The average cost of the Honda Pilot nationally is $31,012.
Carjojo Starting Price $26,011
Save up to $6,000 after Rebates
7 or 8-Seater FWD
MSRP: $32,084 | MPG: 27-Highway
|Metro||Lowest Honda Pilot Price||Buy or Wait Recommendations|
Over To You
Check the Carjojo numbers in your city before buying the Honda Pilot. In general, sales are slowing and inventory is increasing for this vehicle. And with an increasing sales and inventory gap like that, NOW is a good time to buy a Honda Pilot.
About The Auto Insider Report
The Auto Insider Report is Carjojo’s monthly analysis and insight into the current state of the automotive industry. Each mini report takes a deeper look at a specific brand or related topic.
We analyze hundreds of millions of data points daily on nearly 100% of new cars on dealers’ lots — over 4 million vehicles (and growing) — across nearly all makes and models. This level of real-time market intelligence is unprecedented in our industry, and unique to Carjojo’s proprietary technology. Our report aims to highlight key industry trends days or even weeks before any other report is made public. Such trends include sales, inventory, bloat, and more.
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