New models have been placed on sale at discounted rates as dealers frantically scramble to meet registration targets during the coronavirus pandemic. It means buyers can get thousands of pounds off the price of a new model in a major win for consumers suffering financial difficulties.
“That can sometimes mean waiting several months to get behind the wheel, even if you have been able to negotiate a discount at all.
“And, of course, for the price of a secondhand vehicle you are getting the full manufacturer warranty as well as the magic of that brand new car smell.”
Meeting targets is vital for dealerships and many start to reduce older stock around the end of August before the new number plates are launched in September.
Manufacturer sales targets must be met to qualify for bonuses and extra which count towards dealers annual profits.
Motorists can also make savings of up to £27,225 on a luxurious Mercedes Benz SL Class Convertible sportscar.
The discounts also applied to a range of family runarounds with drivers able to save 31 percent off a Peugeot 308 Estate.
Savings of up to £14,000 were also available on the Volvo V90 Estate models with motorists able to save £6,000 or 28 percent off a Skoda Octavia Hatchback.
However, AutoTrader CEO Nathan Coe revealed that across the board prices had in fact been “steadily increasing”.
He said: “Another key indicator of market health is price, and the data we collate for our Retail Price Index has shown prices are not only holding but they have been steadily increasing all summer and the trends show no signs of abating.
“Supply is still tight, but as long as demand remains and retailers stay strong with their pricing strategies and price to the live retail market, we don’t anticipate any negative impact on pricing this year.”