UK: "Big Three" push new car prices down further in August

By just-auto.com editorial team | 5 September 2002

Britain's 'Big Three' car manufacturers helped push transaction prices down by 0.69% in August during the build up to the new '52' number plate, according to data released by independent price monitor, CarPriceCheck.com

The average price cut equates to an extra £83 saving on a £12,000 small family hatchback.

Compared to July, Ford slashed 1.69% off 156 models as it sought to maintain its status as Britain's Number One motoring brand. The price cuts mean the Blue Oval's most popular model, the 5-door Ford Focus 1.6 Zetec, is now being sold with an average £573 saving from UK sourced suppliers.

Meanwhile, GM's Vauxhall boosted discounts by 1.86% for more than half of its 414 model range, whilst Peugeot improved deals by an average of1.27%.

The other notable mover in August was Japanese giant, Toyota. Prices fell by 1.82% compared to July, with average discounts currently standing at 6.7% off the manufacturers recommended retail price.

British car buyers eyeing a bargain from Continental Europe saw prices dip by a further 0.45% as suppliers delivered savings as high as 22% off a BMW 320d and 25% off a Ford Mondeo 2.0 Ghia.

The resulting price movement during August means the consumer can still expect an average discount of 11.2% on an EU imported model compared to 5.38% from a UK supplier.

Steve Evans, chief executive of CarPriceCheck commented: "Despite the record numbers sold already this year, there is a growing feeling that consumer confidence has peaked, and sales will soon start to tail off. With such sentiment flying round the industry, it's no surprise that the volume manufacturers are keen to maximise probably the busiest month on the calendar for private buyers."