New 2017 Mustang GT Price Question

Hey guys, my friend is looking at a 2017 300A Performance Pack car with a manual. The sticker on it $36,540 but they're flat out offering it to him for $31,750 after rebates and dealer discounts before any negotiations. That would mean it's LOWER than their cost plus holdback. Car has 10 miles on it. Am I missing something? I'm not understanding their logic. I was ready to go hamm shit negotiating on this dealer with him but now I'm just confused. Thoughts?

Pretty normal. I was able to get 5k below MSRP without any incentives TWICE!
Good price.

Some dealers sell a little below cost just to make their sales numbers. You're not crazy. They do lose money on some cars and it sounds like you've done your research.

When I bought mine used the sales mgr was pissed at me demanding a $500.00 discount

Cool, thanks guys!

Thats very good. I'm an employee and the deal was over $1k more for the same car. It would basically be $34,800otd without anything down.