- Costco has partnered with General Motors to offer price discounts on the 2024 LYRIQ and other vehicles.
- The Costco Auto Program includes specials on pre-owned vehicles and occasionally on new models.
- Only current Costco customers can take advantage of the limited-time offers.
- This special program shows how the legacy dealership model is evolving.
Costco might be the only place in North America where you can save money on a hotdog and an EV. The home of the legendary $1.50 hotdog is offering great deals on the newest EVs. The latest deal involves the 2024 Cadillac LYRIQ.
Save Money on a New Cadillac
The Cadillac LYRIQ special is a limited-time deal for customers who were Costco members by January 2, 2024. To take advantage of the deal, Costco members must register with the Auto Program to receive a special promotional code for $1,000 off the price of a new Cadillac. Once you receive the code, you have until February 29, 2024, (yup, it’s a Leap Year) to visit any Cadillac dealer to purchase your LYRIQ or other exceptional Cadillac sedan or SUV.
Unfortunately, the LYRIQ no longer qualifies for the $7,500 EV tax incentives, but General Motors told dealerships that it would provide an equivalent discount “for any vehicles that became ineligible due to the new guidelines.” All too often, car shoppers can only choose one incentive, but the $1,000 Costco discount can be layered atop other incentives and discounts.
The LYRIQ lost the EV tax credit eligibility because of one minor component. The automaker is expected to change the sourcing so the EV will regain its tax credit status. In 2024, dealerships are giving the tax credit at the time of purchase which is a major change from previous years.
Changing the Dealership Experience
This opportunity shows how the dealership experience is changing. The legacy dealership sales model continues to evolve, and Cadillac isn’t the only one looking to outside sources for new car customers. Car shoppers want a low-stress buying experience, and Costco has found a way to do it with its user-friendly online platform.
Hyundai recently announced it will be the first automaker to sell vehicles on Amazon. Customers will use Amazon to find available models with their favorite features, then pick up their new Hyundai at a local dealership. Amazon will assist with financing and payment options.
The Costco Auto Program works with local dealerships to offer prearranged pricing and discounts. Back in 2022, Costco members could take advantage of a $1,000 discount on the Chevy Silverado – which is the most popular vehicle in the Costco Auto program.
This program also offers discounts on certified pre-owned vehicles. Costco members can complete an online form requesting a certain make, model, and year, then an authorized dealership sends a “Costco Member-Only Price Sheet.” You review the details and decide if the deal is for you.
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