If you own a Mustang and want to trade it in for a Camaro, GM will give you $3,000.
Is $3,000 enough to get you out of your old Mustang and into a brand new Camaro? GM seems to think so. After offering $2,500 to swap your Mustang for a 2019 Camaro in September and August, the biggest carmaker in the world is now extending that offer to October and also giving an extra $500 on top to sweeten the deal.
As reported by GM Authority, Chevy dealers are authorized to provide a $3,000 cash incentive to Mustang owners willing to trade up to a new 2019 Camaro. This is a clear attempt to boost the beleaguered Camaro’s sales, which has nosedived in recent months. Camaro sales fell 15% in the 3rd quarter of 2019, down to just 12,275 units. That puts it squarely in third behind the Challenger and Mustang which are currently vying for first place.
Things have gotten so bad for the Camaro that GM has no plans to replace the model after production on the current platform ends in 2023. So this might be your last chance to get a Camaro if that's something you’re into.
But as with every cash offer, there are rules to abide by. Only Mustang owners who have owned their 'Stang for at least 30 days can qualify for the cash incentive. It only applies to outright purchases of a brand new 2019 Camaro and does not apply to used cars or leases. You also must take delivery of the Camaro before October 31st and be a US resident.
Everyone who owns something other than a Mustang can get a $1,000 cash allowance. However, only former Mustang owners are likely to make use of the deal.
The reason is that $3,000 generally brings the Camaro in line with the Mustang and Challenger in terms of pricing. If you want a new V8-powered muscle car, you can get a Challenger R/T or Mustang GT for around $35,000. The Camaro 1SS previously started at $37,995, but with $3,000 off it drops down to $34,995.
It’s the same story for the Camaro ZL1. A Mustang GT350 or a Challenger Hellcat starts at $60,000, and after the $3k discount, so too does the Camaro ZL1. This discount really just brings the Camaro to where it should be priced rather than providing a cash incentive to buy over the other two muscle cars.
This probably explains why the Challenger and Mustang are selling a lot better than the Camaro.
(via GM Authority)