An index that measures discounts offered by car manufacturers in Germany shows that discounting activity increased in February, according to a German newspaper.
Handelsbatt reported that the ‘Center Automotive Research’ index measuring discounts in the car industry rose in February. It went from 126 to 128, the paper said, as the declining car market (Germany’s car market was 10% down in February) encouraged discounting behaviour by manufacturers.
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The index is produced by Duisburg-Essen university’s CAR centre. The report said that the average level of the discounts fell by 1.2% to 17.6% of catalogue prices “mainly due to VW’s decision to temporarily scale back its incentive programmes”.
The report added that Jaguar provided the highest incentives, with the XK being offered at a discount of 35.2%, representing a price reduction of around EUR32,000.
