New car costs slashed by nearly 25% as showrooms get back to business

New car costs slashed by nearly 25% as showrooms get back to business
Car showrooms across England have dramatically lowered their prices in a bid to lure buyers after lockdown.

Costs have been slashed by almost 25% for some models, after dealers opened their doors to the public last Monday for the first time in 10 weeks.

Fans of the Mercedes-Benz E-Class estate have enjoyed the biggest saving, with a whopping £16,500 off the list price.

Meanwhile, a new Volkswagen Golf SV can be yours with a 24.2% discount, reducing the price tag by as much as £6,752.

Largest discounts by percentage

RankModelDiscountRRP
1Volkswagen Golf SV24.2% / £6,752£22,300 - £30,695
2Mercedes-Benz E-Class Estate24.2% / £16,544£40,870 - £100,370
3Fiat Tipo23.7% / £3,800£15,540 - £21,535
4BMW 4 Series Convertible23.0% / £12,474£42,410 - £54,545
5Volkswagen Passat saloon22.4% / £7,094£25,980 - £42,305
6Seat Leon22.2% / £6,515£19,850 - £30,045
7Mercedes-Benz C-Class saloon22.0% / £8,736£29,360 - £79,982
8Citroen Grand C4 Spacetourer21.6% / £8,821£26,995 - £35,900
9Vauxhall Grandland X19.7% / £9,177£24,305 - £46,660
10Volkswagen Touran19.2% / £6,538£28,895 - £35,810
11BMW 8 Series Gran Coupe18.4% / £15,950£71,410 - £121,050
12Volkswagen Arteon18.4% / £7,123£33,105 - £44,320
Source: What Car?

 

Since new car registrations fell so drastically during April and May, these discounts suggest that dealerships are keen to shift an abundance of stock and capitalise on increased demand.

However, a significant lull in manufacturing over the last few months means there’s no certainty about how long discounts will last.

The Society of Motor Manufacturers and Traders (SMMT) hopes the move will help sales bounce back after it revealed closed showrooms are costing the Treasury £61 million every day.

May proved a tough month for the industry with new registrations down by a staggering 89%.1

SMMT’s Mike Hawes said: “It has been a black week for UK Automotive with devastating job cuts across retail and manufacturing coming hard on the heels of earlier losses.

“As the sector strives to weather the worst storm in a generation, measures to drive cash flow, stimulate demand and, above all, maintain our competitiveness are essential.”

A possible £1.5 billion scrappage scheme could potentially encourage sales for the struggling industry. The SMMT believes an increased subsidy of £2,500 off the price of a car when motorists scrap their older vehicles could see a further 600,000 new motors hit the road.2

If you’re looking for your next set of wheels, RAC Cars lists over 300,000 new and used options sold from an Approved Dealer network which conducts an 82 point check on every vehicle.

 


1 https://www.smmt.co.uk/vehicle-data/car-registrations/
2 https://www.thisismoney.co.uk/money/cars/article-8384127/Leaked-letter-reveals-SMMT-government-discussions-scrappage-scheme.html

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