Dodge//SRT Expands Dodge Power Dollars, Rewards Enthusiasts Who Crave More Power

Rhea-AI Summary

Dodge//SRT has expanded its popular Dodge Power Dollars national sales promotion, now including Durango SRT 392 and SRT Hellcat models, as well as the 2024 Dodge Hornet for the first time. The program offers customers a $10 per horsepower cash allowance towards the purchase of select 2023 and 2024 Dodge models. This expansion comes as Dodge brand total sales in the U.S. increased 16% from Q1 to Q2 2024.

The promotion applies to 2023 Charger and Challenger models (SXT, GT, R/T), all 2024 Durango trims, and the 2024 Hornet. Cash allowances range from $2,680 for the Hornet GT to $7,100 for the Durango SRT Hellcat. Dodge aims to make performance more attainable and build on its sales momentum with this industry-exclusive program.

Positive

• Dodge brand total sales in the U.S. increased 16% from Q1 to Q2 2024
• Expansion of Dodge Power Dollars program to include more models, potentially boosting sales
• Cash allowances of up to $7,100 on high-performance models like the Durango SRT Hellcat

Negative

• None.

Insights

Automotive Industry Analyst

Dodge's expansion of the Power Dollars program is a strategic move to boost sales and market share. By offering $10 per horsepower in cash allowances, Dodge is incentivizing purchases of higher-powered vehicles, potentially increasing their average transaction price and profit margins. The inclusion of the Durango SRT models and the new Hornet suggests Dodge is broadening its performance appeal across segments.

This promotion could stimulate short-term sales, especially for 2023 models, helping clear inventory. However, it may also impact future residual values. The program's success will depend on consumer response and economic conditions, but it demonstrates Dodge's commitment to its performance-focused brand identity in a transitioning automotive landscape.

Financial Analyst

The expansion of Dodge Power Dollars is a calculated financial strategy. While it may reduce per-unit profit in the short term, it could drive higher overall revenue through increased sales volume and upselling to higher-powered, more expensive models. The 16% increase in U.S. sales from Q1 to Q2 2024 indicates positive momentum that this program aims to capitalize on.

Investors should monitor the impact on Stellantis's automotive segment margins and overall profitability. The program's success could offset potential margin compression with higher volumes and a more favorable product mix. However, the long-term sustainability of such incentives in a competitive market environment remains a key consideration for the company's financial health.

Market Research Analyst

Dodge's Power Dollars expansion reflects a keen understanding of their target market. By directly linking incentives to horsepower, they're tapping into the performance-oriented mindset of their core customer base. This move could strengthen brand loyalty and potentially attract new enthusiasts to the "Brotherhood of Muscle."

The inclusion of the Hornet is particularly noteworthy, as it extends the performance appeal to a new segment. This could help Dodge capture a younger, more diverse demographic. However, the effectiveness of this strategy will depend on how well it resonates with consumers amidst growing environmental concerns and the industry's shift towards electrification. Monitoring customer response and demographic shifts in Dodge's sales data will be important for assessing the long-term impact of this program.

AUBURN HILLS, Mich. , Aug. 6, 2024 /PRNewswire/ --

• Industry-exclusive program gives customers $10 per horsepower cash allowance toward the purchase of 2023 model-year Dodge Charger SXT, GT and R/T models, 2023 Challenger SXT, GT and R/T models
• Dodge Power Dollars available on all 2024 Dodge Durango trims, including SRT 392 and SRT Hellcat models
• For the first time ever, the 2024 Dodge Hornet is eligible for Dodge Power Dollars
• Dodge Power Dollars starts Aug. 6, 2024
• For more information on Dodge brand, visit Dodge.com

Dodge//SRT is making performance even more attainable, expanding its popular Dodge Power Dollars national sales promotion from Charger and Challenger models to now include Durango SRT 392 and Durango SRT Hellcat models and, for the first time ever, the Dodge Hornet.

"Dodge brand total sales in the U.S. increased 16% from the first quarter to the second quarter of 2024, and we plan to continue to build on that momentum," said Matt McAlear, Dodge brand CEO. "We know our Dodge//SRT enthusiasts crave more power and performance, and Dodge Power Dollars gives them an extra boost to join the Brotherhood of Muscle."

Starting today, customers across the United States can get $10 per horsepower cash allowance toward the purchase of 2023 model-year Dodge Charger SXT, GT and R/T models, 2023 Challenger SXT, GT and R/T models and all 2024 Dodge Durango trims, including SRT 392 and supercharged 6.2-liter HEMI® SRT Hellcat models that produce 710 horsepower and 645 lb.-ft. of torque. For the first time ever, the 2024 Dodge Hornet is also eligible for the industry-exclusive program.

Dodge Power Dollars examples include: 

Durango	HP	Dollars
SXT	293	$2,930
GT/Citadel V-6	295	$2,950
R/T/Citadel V-8	360	$3,600
SRT 392	475	$4,750
SRT Hellcat	710	$7,100
Hornet	HP	Dollars
GT	268	$2,680
R/T	288	$2,880
Charger	HP	Dollars
SXT	292	$2,920
GT	300	$3.000
R/T	370	$3,700
Challenger	HP	Dollars
SXT/GT	303	$3,030
R/T	375	$3,750

Dodge//SRT
For 110 years, the Dodge brand has carried on the spirit of brothers John and Horace Dodge. Their influence continues today as Dodge shifts into high gear with a lineup that delivers unrivaled performance in each of the segments in which the brand competes while moving forward to a future that includes electrified muscle in the form of the next-generation, all-new Dodge Charger.

The next-generation Dodge Charger electrifies a legend, with the Charger retaining its title as the world's quickest and most powerful muscle car led by the all-new, all-electric 2024 Dodge Charger Daytona Scat Pack. The all-new Dodge Charger will also offer performance choices via multi-energy powertrain options including the 550-horsepower Dodge Charger SIXPACK H.O., powered by the 3.0L Twin Turbo Hurricane High Output engine.

Dodge also keeps its foot on the gas as a pure performance brand with the 710-horsepower Dodge Durango SRT Hellcat, the most powerful SUV ever, and best-in-class standard performance in the compact utility vehicle segment with the Dodge Hornet.

Dodge is part of the portfolio of brands offered by leading global automaker and mobility provider Stellantis. For more information regarding Stellantis (NYSE: STLA), please visit www.stellantis.com.

Follow Dodge//SRT and company news and video on:
Company blog: http://blog.stellantisnorthamerica.com
Media website: http://media.stellantisnorthamerica.com
Dodge brand: www.dodge.com
Direct Connection: www.DCPerformance.com
DodgeGarage: www.dodgegarage.com
Facebook: www.facebook.com/dodge
Instagram: www.instagram.com/dodgeofficial
Twitter: www.twitter.com/dodge and @StellantisNA
YouTube: www.youtube.com/dodge, https://www.youtube.com/StellantisNA

 

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SOURCE Stellantis

FAQ

What is the Dodge Power Dollars program and when does it start?

Dodge Power Dollars is a national sales promotion offering customers $10 per horsepower cash allowance towards the purchase of select Dodge models. The expanded program starts on August 6, 2024.

Which Dodge models are eligible for the Dodge Power Dollars program in 2024?

The program includes 2023 Charger and Challenger models (SXT, GT, R/T), all 2024 Durango trims (including SRT 392 and SRT Hellcat), and for the first time, the 2024 Dodge Hornet.

How much cash allowance can customers get with Dodge Power Dollars on a Durango SRT Hellcat?

Customers can receive a $7,100 cash allowance on the Durango SRT Hellcat, which produces 710 horsepower.

How has Dodge's sales performance changed in 2024 according to the press release?

Dodge brand total sales in the U.S. increased 16% from the first quarter to the second quarter of 2024.