Error parsing XSLT file: \xslt\FacebookOpenGraph.xslt September plate-change discounting forces market past pre-recession levels
Cookies on Businesscar

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive all cookies on the Business Car website. However, if you would like to, you can change your cookies at any time

BusinessCar magazine website email Awards mobile

The start point for the best source of fleet information

September plate-change discounting forces market past pre-recession levels

Date: 15 October 2014

Vehicle manufacturers that force the new car market will push the September-plate change figures into double-digit growth and beyond the level seen before the recession, according to car valuation firm Cap.
The latest new car registration figures were still to be released as BusinessCar went to press, but Cap said the pressure to discount and pre-register vehicles in September will push the market beyond the Society of Motor Manufacturers and Trader's forecast of 2.5 million units, with Philip Nothard, Cap's retail and consumer expert, saying "this has the potential to be the biggest September on record".

However, according to Cap, many dealers are increasingly unhappy about the pressure to increase new car sales, with millions of pounds being poured into 'dealer contributions' to encourage the registration of new cars.

With contributions on some models as high as 25% of the car's value, car retailers are being given major opportunities to generously negotiate new car deals with their customers.

Scores of deals between manufacturers and dealers were in place in the run-up to the end of September to encourage new car registrations. Examples seen by Cap include a manufacturer contribution to the dealer of nearly £17,000 on a £68,000 sports coupe.

Rapidly growing order books also mean some manufacturers are struggling to build cars quickly enough to put on forecourts. Lead times are growing with, for example, some Fiat models now on a 10-12 week delivery schedule, and some Audi A3 models ranging from three to four months.



Share


Subscribe