Broadspeed.com has announced it will exit the imported new car market. Simon Empson, Managing Director, confirmed: “Broadspeed.com is committed to a sustainable model, offering the lowest possible prices on new cars – supplied solely by our UK Franchised Dealer partners.
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“We excluded imports from the Broadspeed.com website last year because UK cars now offer offer clear advantages that they did not offer back in 1999 when the ‘Rip Off Britain’ campaign was in full swing. As far as Broadspeed is concerned, imports no longer offer better value.
“A buyer in 1999 who might have secured a 30% discount off UK list price from an EU dealer straightaway loses 10% of that through today’s € / £ exchange rate. Meanwhile EU new car prices have risen by up to 10% over the past three years – whilst UK new car prices have fallen by at least 10%. Import car buyers also have to factor in the cost of extra warranty to match the UK’s three years’ cover – and must also expect heavier depreciation on re-sale.”
Empson offers car buyers five reasons to search the best UK-supplied deals for their new car:
1. UK savings are now up to 35% on brand new cars
2. Immediate availability on many new cars
3. UK full three or five-year warranty on new cars
4. Cheap or free finance and insurance on new cars
5. An import can be worth less than equivalent UK car at trade-in time
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By GlobalDataSimon Empson adds, “It’s important to note that the benefits now available to UK car buyers came about partly as a result of car manufacturers responding to the impact of the internet. Sky high UK car prices were exposed on the web in 1999.”
It was internet operators like Broadspeed.com that allowed UK car buyers to compare UK and import prices side by side, and then order cars wherever it was most advantageous.
Broadspeed was in the late ‘90s a pioneer of ‘parallel’ imports, serving as an intermediary between UK buyers and continental Franchised Dealers, and famously, collaborating with Stena Line to provide ‘The Car Cruise’ service to bargain-hunting motorists.
Broadspeed has placed orders for more than 30,000 new cars since 1996 and is on track to place more than 5,000 new car orders in 2004.
