Money talks in new car registrations

While new car registrations continue to stall, brands offering the greatest cash discounts are coping better than most.

This is according to the Target Price report from What Car?, which found the top 10 brands offering the biggest cash discounts on new cars accounted for nearly 50% of the UK’s new car sales during the first six months of 2019.

Citroen, which offered the biggest discounts in the first six months of the year, at 11.75%, saw its market share grow by 4.16% in the first six months, while Seat, which recorded the fourth largest discounts, grew its market share by 5.24% over the same period.

Discounting was found to help other brands work against the declining market, too, with Mercedes-Benz and Volvo recording increased registrations – Volvo’s market share grew a particularly notable 27.05% in the first six months, with new product launches also contributing.

New car registrations data from the SMMT shows the 10 brands with the smallest cash discounts accounted for just 12.35% of the year-to-date market share in June, although some of them still enjoyed growth.

Steve Huntingford, editor of What Car?, said, ‘When times are hard many manufacturers and retailers know that they have to appeal to increasingly canny buyers who are willing to negotiate to get a good deal. We are seeing manufacturers starting to offer significant discounts on new cars this year to battle a declining market. New car discounts have been growing steadily since January, with certain brands using them to maintain or improve their sales and market share.

‘Interestingly, there is a clear split between premium brands; some are offering large discounts, including BMW and Mercedes-Benz, while others such as Land Rover and Lexux are pursuing a policy of lower offers. As a result, car buyers must do their research more carefully than ever in order to get the best car for their needs.’