After years of revving their engines at full throttle, the North American auto industry isn't what it used to be. While it's not completely out of gas, the lifeblood of the economy could probably use an oil change.

But for those looking to buy a new car, their loss is your gain. With the Canadian dollar surging and its American counterpart falling, some of the big automakers are being forced to do the one thing few would have expected - cut their prices.

Audi and Volkswagen are among those looking to give you a bargain to attract your business. Toyota alone has slashed sticker prices on 16 different models. "The auto industry is enormously competitive, and no one likes to lose a sale," explains Steven Beatty of Toyota Canada.

The loonie is driving these hard bargains. Last October, almost 25,000 cars were purchased and imported from the U.S., amid charges some dealers were being told not to sell any inventory to Canadians. But they still want your money. And by lowering their prices, companies are hoping Canucks will take the hint and shop at home.

Some examples of the bargains being offered: A Toyota Sienna minivan, now $2,350 less than before. The Lexus RX has dropped by $2,700. Buy a Volkswagen Jetta and save $1,500 off the original price. And Audi's TT has deflated by $3,700.

Add in other incentives and the fact salespeople may be more flexible and you can ride off into the sunset with a few more bucks than you might have had a year ago.

Sameer Dewji thinks it's a good deal overall. "It will save you the trip from going all the way across the border and of course the taxes to bring cars back to Canada," he figures.

Still, there's one place you're never likely to save much money - the fuel to make it all go. Gas prices remain high. So unless you're considering a more expensive hybrid, be prepared to Shell out - or Esso or Petro Canada - more for what you need to keep that motor running.