Dealer discounts near £17m
Car buyers have enjoyed savings of £16.8m since February, as dealers respond to falling sales by increasing discounts by upwards of 10%.
This is according to the latest research by new car buying platform, What Car?. It found the average discount on a new car at the end of May stood at £2,595 – or 7.9% off the average list price.
Rachael Prasher, managing director of What Car?, said, ‘Across the UK car market, we are seeing manufacturers slash cash prices by £16.8m. This isn’t manufacturers panicking or throwing in the towel, but using the basic economic rules of supply and demand to maintain sales volumes.’
Estates, MPVs, and luxury cars came with the highest discounts, at an average of 10.3% across the three segments, while the typical discount on SUVs, hot hatches and sports cars were all below six per cent.
Rachael added, ‘The differences in discounts across sectors shows manufacturers are being tactical with their approach – offering larger cash reductions in areas with less demand, while keeping prices stable in sectors they know are popular and sell well.’
