It”s official – new car prices are still falling after two years

11 January 2001 #SMMT News

Today’s announcement from the Alliance and Leicester makes

good reading for consumers as we approach the end of what many expect to be

a record year for new car registrations.

On average, the price paid by the consumer for their new cars

in September was 3.1 per cent down on last year. However, that figure does not

tell the full story. A&L’s own figures show that prices have fallen each month

for more than two years, despite a host of new and innovative products being

launched by the motor industry with higher specifications and longer warranties

on many existing models.

The biggest drop came in the small cars segment, down 14.7

per cent. Small cars currently feature in five of the top 10 places for the

best selling cars January – September 2001, highlighting the fierce competition

in this segment in the UK marketplace.

Commenting on the figures, SMMT Chief Executive Christopher

Macgowan said, ‘This indicates the motor industry’s commitment to supply excellent

products with outstanding value. Since A&L started this monthly index, we have

seen new cars become greener, safer, more recyclable and better specified than

ever before. Certainly this year’s registration figures would indicate that

consumers know they are on to a good thing with UK dealers’.

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