Mercedes GLE: 2024 Sales Success and Buying Guide
Record-Breaking Year for the GLE
Mercedes-Benz hit it out of the park in 2024, selling more GLEs than ever before. While they didn't quite overtake BMW or Lexus, they came incredibly close to BMW's numbers. This is fantastic news for Mercedes, especially considering their recent struggles with leasing options that led to some customer loss.
What's the Deal with the GLE?
If you're eyeing a Mercedes GLE, you're in for a treat. Let's break down what you need to know to make your negotiation smooth and understand the potential costs.
The Competition is Fierce
The luxury SUV segment is packed with amazing options, and dealers are often willing to get competitive if you mention rivals like BMW and Lexus. While Mercedes used to be known for jaw-dropping discounts, those days of ultra-low payments are gone, thanks to sky-high interest rates.
Sales Trends and Market Position
Mercedes has been steadily climbing the sales ladder:
2010: About 30,000 ML-Class sold
2024: Approximately 70,000 GLEs sold
However, future growth might be challenging due to:
Increasing model variety within Mercedes
Growing popularity of smaller and electric SUVs
Higher costs pushing some buyers towards brands like Lexus, Acura, and Genesis
How Does GLE Stack Up?
Mercedes GLE: ~70,000 units
BMW X5: ~70,000 units
Lexus RX: ~120,000 units (segment leader)
Audi Q7: Significantly fewer sales
Current GLE Inventory and Options
Mercedes has a hefty inventory of GLEs compared to BMW and Lexus. This could mean great deals for savvy buyers, especially towards the end of the month. Here's the breakdown:
Total GLE inventory: About 3 times more than Lexus
Gas models: ~8,000
Plug-in hybrids: ~2,000
GLE 350: ~3,300
GLE 53 AMG: ~1,800
GLE 450 Plug-in hybrid: ~2,200
Getting the Best Deal on Your GLE
Target Discount
Aim for 9-12% off MSRP. Push for 12% if:
The car is in stock
It's the end of the month
You're feeling bold
For our example, we'll use a GLE 350 4Matic with an MSRP of $58,320. At a 10.5% discount, you're looking at a selling price of $61,115.
Current Incentives
Mercedes is offering $3,000 in loyalty incentives, which suggests they're eager to keep their customers.
Financing vs. Leasing: What's the Best Option?
Financing
If you finance $61,115 at 4.9% for 60 months:
Monthly payment: $1,166
Total 5-year cost: ~$73,863 (assuming MA taxes)
Estimated 5-year resale value: $30,748 (45% of original price)
Leasing
For a 39-month lease with 12,000 miles per year:
Residual value: 55%
Money factor: 0.00293 (quite high)
Monthly payment: $893 (not including tax)
Total 3-year cost: ~$38,974
What's the Best Choice?
If you're not paying cash or planning to keep the car for more than 5 years, leasing might be the safer bet. The difference in total cost between buying and leasing isn't huge, and leasing protects you from potential depreciation surprises.
However, if you're paying cash or plan to keep the car long-term, buying could be the better option.
Wrapping Up
The Mercedes GLE is a fantastic luxury SUV with strong sales figures. While it's not the cheapest option out there, savvy negotiation can land you a great deal. Remember to time your purchase right, consider all your options, and don't be afraid to negotiate.
Happy car hunting!
