Car prices are plummeting: fancy a £36,000 discount on a brand new M car?
Dealers are slashing prices on new and pre-registered cars on the run up to Christmas, offering enormous savings on some evo favourites
If you’ve been holding out to buy a new performance car, now is the time to strike. Dealers across the country are offering enormous price cuts on new and pre-registered models to shift stock before the year is out.
Got your eye on a Jaguar F-type? Stratstone Jaguar Land Rover in Newcastle is offering a delivery-mileage P450 75 coupe for just £66,750 – an enormous £21,865 saving over its list price. How about an Audi R8? As production comes to a close this year, Crewe Audi is selling a Performance edition for £134,990, or £27,160 less than you’d normally pay. As we’ll discuss below, there are even bigger savings to be found elsewhere…
The widespread discounts have appeared following a ramp up in new car sales this year and growing dealer stock as production capacities reach pre-pandemic levels. According to the Society of Motor Manufacturers and Traders (SMMT), 156,525 new cars were registered in November – a 9.5 per cent year-on-year increase and just 0.1 per cent down on November 2019. Fewer supply constraints mean more competition and more consumer choice, but there are other factors driving these unprecedented discounts.
According to the UK’s 2024 Zero Emissions Vehicle mandate, EVs must account for at least 20 per cent of sales for each manufacturer from January next year, or else they could face fines of £15,000 per vehicle. Discounting new ICE models to sell them before year’s end will prevent them from being registered in 2024 and counting against the 20 per cent EV requirement. evo has reached out to key manufacturers to weigh in on the state of the market, and this story will be updated in due course.
The biggest saving we found was £42,004 off a brand new BMW M850i xDrive. Sytner BMW in Tamworth is selling a Portimao blue example with a cream interior for a whisker under £88,000, complete with a storming 4.4-litre twin-turbocharged V8 with 523bhp. Even the flagship M8 Competition has come under the crunch – we spotted one advertised for £36,440 below list, just in time for Christmas…