According to the latest Glass’s New Car Market Trends report, the list price of the average new supermini (e.g. Ford Fiesta, Vauxhall Corsa, Volkswagen Polo) in the UK dropped 2.1%, year-on-year, to the end of April – more than for any other type of car.
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By contrast, list prices across the UK’s new car market as a whole increased, albeit by a modest 0.9%, equivalent to an annual rise worth £123.
“The below-inflation uplift in average list prices for all new cars is part of an ongoing trend,” said a Glass’s spokesman. “In the face of falling new car registrations and intense competition, manufacturers remain reluctant to pass on rising steel and energy costs in case they put off more prospective buyers.”
The 2.1% fall in average supermini list prices, equivalent to a drop of £209, has been partly influenced by the arrival of a new budget model, the Kia Picanto, which has prices starting at just £5,352.
The above-average increase in list prices of compact family cars comes partly as a result of the launch of several new models over the past year – including the Astra, Focus and the face-lifted Corolla. Typically, these models have come in at around 4 to 6% higher than their predecessors, which has inevitably contributed to new car price inflation in the sector.
The volume-brand upper-medium car sector (e.g. Ford Mondeo, Vauxhall Vectra, Toyota Avensis) continues to have some of the fastest rising list prices, with the sector as a whole up 2.7%, or £435, over the past year. This has primarily been led by upgrades and new model introductions.
For example, the entry point for the Renault Laguna diesel range is now more expensive, thanks to the 100bhp engine being replaced with a 120bhp unit.
In addition, Seat’s Toledo has been radically revised, which has been coupled with a price premium over the outgoing version.
The list price of the average SUV increased in price by 1.5% over the last 12 months. However, discounting the arrival of the BMW X3 at the prestige end of the market, the average list price rise for the sector would be only 1%.
In pound note terms, the single biggest list price rise in April was for the Audi A6 2.0TD SE Saloon, which increased by £510, or 2.2%, to £23,250.
The largest single list price reduction last month was for the Renault Vel Satis 3.0 V6 dCi Privilege, which dropped £1,740, or 6.3%, to £25,787, to clear remaining stocks.
