Costco members who purchase or lease select new Chevy vehicles between now and August 2nd, 2021 will be entitled to receive a special members-only incentive, the American retail chain has announced.
These new Costco member incentives include $1,000 cash back on the purchase of any new 2021 model year Chevy Tahoe, Suburban, Silverado 1500 or Silverado HD. Customers can also receive $1,000 cash back with the purchase of a new 2022 Chevy Bolt EUV or 2022 Bolt EV and $3,000 cash back on a 2020 or 2021 model year Chevy Bolt EV. The Costco member incentives do not cancel out manufacturer incentives that may be available with these Chevy vehicles in June and July, either, so there may be some great deals to be had for buyers this summer.
The Costco Auto Program provides members with prearranged pricing on various makes and models, funneling vehicle sales through a network of approved dealerships. An individual must be a Coscto member in order to take advantage of the incentives offered through the Costco Auto Program.
The Costco member incentives are particularly attractive at the moment, as manufacturer incentives have been few and far between in recent months amid high vehicle demand and persistent production delays. According to data from Cox Automotive, average incentive spending was just 9.6 percent of the average vehicle transaction price in Q1 of 2021 – the first time this figure has been below 10 percent since 2016.
“The math here is simple: Low inventory plus healthy demand equals lower incentives and higher profitability,” Cox Automotive concludes. “For new-vehicle shoppers, the deals are harder to find.”
The Costco incentive program for Chevy vehicles will run from June 1st, 2021 through to August 2nd, 2021. An individual must have been a Costco member since at least May 31st, 2021 in order to qualify.