A culture of discounting could be returning to the new car market, with key indicators, including an increased willingness among salespeople to discuss discounts, suggesting that savvy buyers could rack up significant savings.
Research conducted by What Car? has found increases of up to 23% in cash Target Price savings over the last quarter, as well as a 25% uplift in the average finance deposit contribution.
It won’t be a quick return to the pre-pandemic market state, however, and consumers will have to shop around and haggle for better deals as some fundamental hangovers from the past couple of years remain.
These sticking points include unfulfilled new-car order books, emboldened dealer sales teams (that have become used to defending their profit margin), a low discount perception among buyers and the high demand for electric cars.