New Car Buyers in the UK Seize Bargain Opportunities as Discounts Hit £6,000 Average
As the UK's new car market heats up, savvy buyers are capitalizing on a surge in manufacturer-led price cuts. According to data from Insider Car Deals, the typical discount for petrol, diesel, and electric vehicles sold in the country now stands at an average of 11.4%, amounting to around £5,911 - nearly £1,000 higher than this time last year.
Electric Vehicle (EV) fans are also reaping benefits, with a price reduction of 12.9% on tap for eligible models. This translates to significant savings for consumers, with the total bill coming out lower despite EVs often carrying a higher upfront cost.
Industry executives, however, warn that manufacturers are struggling to meet their electric vehicle sales targets, forcing them to offer deep discounts on battery cars in order to stay competitive. The situation is particularly acute in the market for smaller, cheaper models, where demand remains strong despite the shift towards more environmentally-friendly options.
While consumers are generally pleased with the current state of affairs, some manufacturers seem to be playing a long game, offering less generous discounts on petrol-powered variants. For instance, Nissan's popular Qashqai model can now be found for £36,000 - around 17.9% cheaper than its recommended retail price.
Meanwhile, electric rivals such as Kia's Niro EV are coming in at an impressive 7.1% discount, while the hybrid variant of the same model is on offer for a whopping 13.2% off. Whatever choice buyers make, haggling is still key - particularly towards the end of the month or quarter when dealers may be under pressure to meet sales targets.
The benefits extend beyond the initial purchase price, however. With battery motors being significantly more efficient than their internal combustion engine counterparts, EV owners can save money on energy costs and reduce their carbon footprint. According to Colin Walker from the Energy & Climate Intelligence Unit (ECIU), this can translate into savings of hundreds or even thousands of pounds per year for those who charge their vehicles at home.
As competition from Chinese manufacturers such as BYD, MG, Chery's Omoda and Jaecoo intensifies, it seems that buyers are indeed getting the upper hand. Insider Car Deals' founder Pat Hoy notes that this is not a new phenomenon - market trends are already beginning to resemble those before the COVID-19 pandemic.
As the UK's new car market heats up, savvy buyers are capitalizing on a surge in manufacturer-led price cuts. According to data from Insider Car Deals, the typical discount for petrol, diesel, and electric vehicles sold in the country now stands at an average of 11.4%, amounting to around £5,911 - nearly £1,000 higher than this time last year.
Electric Vehicle (EV) fans are also reaping benefits, with a price reduction of 12.9% on tap for eligible models. This translates to significant savings for consumers, with the total bill coming out lower despite EVs often carrying a higher upfront cost.
Industry executives, however, warn that manufacturers are struggling to meet their electric vehicle sales targets, forcing them to offer deep discounts on battery cars in order to stay competitive. The situation is particularly acute in the market for smaller, cheaper models, where demand remains strong despite the shift towards more environmentally-friendly options.
While consumers are generally pleased with the current state of affairs, some manufacturers seem to be playing a long game, offering less generous discounts on petrol-powered variants. For instance, Nissan's popular Qashqai model can now be found for £36,000 - around 17.9% cheaper than its recommended retail price.
Meanwhile, electric rivals such as Kia's Niro EV are coming in at an impressive 7.1% discount, while the hybrid variant of the same model is on offer for a whopping 13.2% off. Whatever choice buyers make, haggling is still key - particularly towards the end of the month or quarter when dealers may be under pressure to meet sales targets.
The benefits extend beyond the initial purchase price, however. With battery motors being significantly more efficient than their internal combustion engine counterparts, EV owners can save money on energy costs and reduce their carbon footprint. According to Colin Walker from the Energy & Climate Intelligence Unit (ECIU), this can translate into savings of hundreds or even thousands of pounds per year for those who charge their vehicles at home.
As competition from Chinese manufacturers such as BYD, MG, Chery's Omoda and Jaecoo intensifies, it seems that buyers are indeed getting the upper hand. Insider Car Deals' founder Pat Hoy notes that this is not a new phenomenon - market trends are already beginning to resemble those before the COVID-19 pandemic.
i mean £6,000 discount is crazy 
manufacturers need to step up their EV game tho 
electric vehicles all day every day 
️ battery motors are where it's at saving energy and the planet 
kia niro ev is giving me life 
17.9% off is not bad 
gotta keep haggling skills sharp tho 
my friend just got his niro and he said hes savin so much on energy costs too 
.
. They need to keep pushing out those battery-powered cars or they'll get left behind in the market. But overall, Im just happy that people like me are getting to drive around in a new car without breaking the bank 
! I mean, who doesn't love saving £5k+ on their new car purchase? It's like manufacturers are competing with each other to get the best deals out there 
.