View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
June 10, 2003

UK: Researcher claims UK new car prices second lowest in eurozone

The UK has gone from being one of the most expensive countries in Europe to buy a car, to one of the cheapest, researcher eurocarprice.com claims. Only in Italy are average pre-tax showroom prices lower than those in the UK, according to the eurocarprice.com base price index which compares car prices in 19 countries against the average price of a new car in the euro currency zone.

By bcusack

The UK has gone from being one of the most expensive countries in Europe to buy a car, to one of the cheapest, researcher eurocarprice.com claims.

Only in Italy are average pre-tax showroom prices lower than those in the UK, according to the eurocarprice.com base price index which compares car prices in 19 countries against the average price of a new car in the euro currency zone.

The research also shows that UK pre-tax prices are now 7% below the average in Germany.

The retail price index section of the research shows that the average retail price of a new car in the UK is now 500 euros lower than the average price of the similar car in the euro currency zone.

A spokesman said: “Continental suppliers now find it very hard to undercut UK car dealers’ prices. With May’s new car registrations the second highest on record and buoyant industry forecasts for the remainder of the year, the short term prospects look bright for UK retailers.

“The result of the weaker pound versus the euro has significantly reduced the revenues to manufacturers of cars sold in the UK. Overall, the poor profitability of all manufacturers will increase pressures for price rises in this country. In the meantime, UK consumers are the winners with car prices in real terms lower than they have been for many years.”

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto