The prices of nearly a fifth of all new cars on sale in the UK fell by 3.1 percent in October as dealers apparently ignored the general trend of rising recommended retail prices, according to the independent car price monitor, CarPriceCheck.

In an effort to woo customers onto the forecourts, UK dealers recorded price cuts on 92 percent of the 812 models which had displayed a price movement between September and October. CarPriceCheck’s data showed that buying activity was down 18 percent year on year for the period.

This was, the price monitoring company said, at odds with transaction prices for the market in general (taking into account all supply channels including dealers, internet traders, manufacturers and importers) where transaction prices actually rose by 1.2 percent in October. Only 18 percent of the model ranges for which price changes were recorded during the month fell in price.

Key movements noted from UK dealers included:

· MG Rover reversed recent price rises to cut 2.89 percent on average off its entire UK range

· Citroen cut prices on 66 models by an average of 5.6 percent with the popular Xsara Picasso compact MPV available with an average of 15.37 percent discount

· Prices for 33 Fiat models fell by 2.68 percent with discounts as high as 20.55 percent average for the Marea range

· Renault improved discounts by 3.27 percent for 77 of its most popular models

CarPriceCheck said that General Motor’s UK internet sales operation, Vauxhall Buy Power, mirrored the dealer trend to cut the transaction price for 41 different models by 4.06 percent on average, while Ford’s new FordJourney site offered a 2.14 percent price cut on 24 models.

“Bargains can be found with both manufacturers offering a near 17 percent saving on smaller models,” a CarPriceCheck report said.

“Franchised dealers are not always the cheapest source for any given model, but they have consistently shown their resolve. They demonstrated a renewed willingness to offer deals that attracted car buyers in October,” said the price monitor’s CEO Steve Evans.

“How much of this is a reaction to the cyclical downturn in activity and how much a result of reduced consumer demand since the September 11th terrorist attacks in the United States is a matter for conjecture.”

Evans believes that lower prices offered by Ford and Vauxhall internet sales channels show that manufacturers are keen to boost showroom activity.

“The signs are extremely positive for consumers looking for a bargain at the moment.”

According to CarPriceCheck, Fiat was the most competitive manufacturer in the UK new car market in October, recording a consistent fall in price of 2.26 percent for each model in its range during the period. The biggest falls were for the soon-to-be replaced Brava and Bravo with average discounts of 15.26 percent and 14.18 percent available respectively.

Citroen’s C5 showed the biggest fall in pricing for a single model with discounts almost doubling to an average of 12.8 percent off list price. Franchised offered the best deals with a 16.3 percent saving on the French maker’s large family model, but the internet retailer JamJar was the most aggressive single supplier, slashing 10.7 percent off to offer an average discount of 15.1 percent.

Although independent importers (called “grey” importers by the UK motor trade) continue to offer keen pricing, fluctuating exchange rates partially dictate the rise and fall in transaction prices recorded every month.

Prices for models sourced by such importers outside the UK rose by an average of 0.53 percent on 1,143 models during October, continuing the marked trend from the previous month, when prices increased by 2.4 percent for 1,465 imported models.

The third largest retail dealer group in the UK, Reg Vardy, offered popular models at significant savings including an average 18 percent off the Nissan Primera and 14 percent off the Almera. It also cut the price of Fiat’s soon-to-be-replaced Marea saloon by 25 percent.

The prices of nearly a fifth of all new cars on sale in the UK fell by 3.1 percent in October as dealers apparently ignored the general trend of rising recommended retail prices, according to the independent car price monitor, CarPriceCheck.

In an effort to woo customers onto the forecourts, UK dealers recorded price cuts on 92 percent of the 812 models which had displayed a price movement between September and October. CarPriceCheck’s data showed that buying activity was down 18 percent year on year for the period.

This was, the price monitoring company said, at odds with transaction prices for the market in general (taking into account all supply channels including dealers, internet traders, manufacturers and importers) where transaction prices actually rose by 1.2 percent in October. Only 18 percent of the model ranges for which price changes were recorded during the month fell in price.

Key movements noted from UK dealers included:

· MG Rover reversed recent price rises to cut 2.89 percent on average off its entire UK range

· Citroen cut prices on 66 models by an average of 5.6 percent with the popular Xsara Picasso compact MPV available with an average of 15.37 percent discount

· Prices for 33 Fiat models fell by 2.68 percent with discounts as high as 20.55 percent average for the Marea range

· Renault improved discounts by 3.27 percent for 77 of its most popular models

CarPriceCheck said that General Motor’s UK internet sales operation, Vauxhall Buy Power, mirrored the dealer trend to cut the transaction price for 41 different models by 4.06 percent on average, while Ford’s new FordJourney site offered a 2.14 percent price cut on 24 models.

“Bargains can be found with both manufacturers offering a near 17 percent saving on smaller models,” a CarPriceCheck report said.

“Franchised dealers are not always the cheapest source for any given model, but they have consistently shown their resolve. They demonstrated a renewed willingness to offer deals that attracted car buyers in October,” said the price monitor’s CEO Steve Evans.

“How much of this is a reaction to the cyclical downturn in activity and how much a result of reduced consumer demand since the September 11th terrorist attacks in the United States is a matter for conjecture.”

Evans believes that lower prices offered by Ford and Vauxhall internet sales channels show that manufacturers are keen to boost showroom activity.

“The signs are extremely positive for consumers looking for a bargain at the moment.”

According to CarPriceCheck, Fiat was the most competitive manufacturer in the UK new car market in October, recording a consistent fall in price of 2.26 percent for each model in its range during the period. The biggest falls were for the soon-to-be replaced Brava and Bravo with average discounts of 15.26 percent and 14.18 percent available respectively.

Citroen’s C5 showed the biggest fall in pricing for a single model with discounts almost doubling to an average of 12.8 percent off list price. Franchised offered the best deals with a 16.3 percent saving on the French maker’s large family model, but the internet retailer JamJar was the most aggressive single supplier, slashing 10.7 percent off to offer an average discount of 15.1 percent.

Although independent importers (called “grey” importers by the UK motor trade) continue to offer keen pricing, fluctuating exchange rates partially dictate the rise and fall in transaction prices recorded every month.

Prices for models sourced by such importers outside the UK rose by an average of 0.53 percent on 1,143 models during October, continuing the marked trend from the previous month, when prices increased by 2.4 percent for 1,465 imported models.

The third largest retail dealer group in the UK, Reg Vardy, offered popular models at significant savings including an average 18 percent off the Nissan Primera and 14 percent off the Almera. It also cut the price of Fiat’s soon-to-be-replaced Marea saloon by 25 percent.



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