A discount culture could be returning to the new car market, with key indicators, including a greater willingness among salespeople to discuss discounts, suggesting that savvy shoppers could make significant savings.
Research conducted by What Car? has found increases of up to 23% in target cash savings over the last quarter, as well as a 25% increase in the average contribution of financial deposits.
However, it won’t be a quick return to pre-pandemic market conditions, and consumers will need to shop around and haggle for better deals as some fundamental hangovers from the past two years remain.
These problems include unsatisfied new car order books, emboldened dealer sales teams (who have grown accustomed to defending their profit margins), a low discount perception among buyers and high demand for electric cars.
