BARGAIN brand new cars are already appearing for sale online, with some prices slashed by nearly a third, says the online car supermarket BuyaCar.co.uk.
Massive discounts are already available on numerous 2021 models – including electric cars – with the latest 70 plate, as dealers keep their business wheels turning by focusing on turnover rather than profit for the time being.
As electric vehicles achieve more widespread popularity there are hefty price cuts on some brand new Nissan Leaf examples, with as much as 24% off – representing a discount of £7,720. Another 2021 Leaf with the latest plate sports a price cut of £6,520, again with delivery miles only.
Electric car discounts in particular will be welcomed by the growing number of drivers who have decided to take the plunge and go electric, but have seen increased demand for EVs in the used market push prices up.
Another benefit of lower initial prices but high used prices is that drivers choosing PCP finance on one of these cars should benefit from lower monthly payments – as PCP monthly payments cover the difference between a car’s value at the start of the contract and what it’s expected to be worth when the contract ends.
Electric car manufacturers are also keen to push EV sales volumes higher so that used prices become more affordable and generate more demand for new models.
Among more of the heavily discounted brand new cars available are a Vauxhall Astra with £7,320 off – a discount of 28.5% – and a Seat Leon offered with a price cut of £6,335 – or 24.7%.
New cars with substantial discounts are not a new phenomenon, as dealers are encouraged to sell more than a certain number of cars to earn manufacturer bonuses. This means that many dealers sell a number of cars to themselves to hit sales targets and subsequently offer them at discounted prices as used cars to customers.
But this year these discounted cars are appearing especially early, as dealers aim to ‘tough out’ the additional challenges of Britain’s third round of anti-coronavirus restrictions by giving away more of their profits to keep business moving.
BuyaCar editor Christofer Lloyd said: “The race to clear newly registered cars from stock by selling them at huge discounts began almost as soon as 2021 got under way. One interesting aspect is the brands involved – ones that are typically considered to be at the more budget end of the market.
“This may be in response to the apparently unstoppable so-called premium brands such as Mercedes-Benz, Audi and BMW, which spent much of last year winning the lion’s share of the market on BuyaCar.co.uk as used cars.
“Looking ahead to the rest of this year it seems unlikely that the new car market will take off significantly until the worst of the coronavirus crisis has passed, so the discounts we are seeing are likely to continue for some time to come.”
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