Coupe and Cabriolet Target Price analysis
Target Price: This month’s Analysis of new car incentives
The average cash Target Price discount available on coupé and convertible models has been in constant decline over the last seven months and is currently 8.7% or £3878 per car.
Transaction price savings on coupé variants have seen the biggest reduction, down by more than 23% in relative terms since the Covid-19 lockdown, while convertible car discounts have dipped by 12% over the same period.
The typically available PCP APR deals from manufacturers remain just above the all-segment average, at 5% for coupés and 4.5% for convertibles, but there has been a significant month-on-month increase in the finance deposit contributions linked to these deals. Coupés are up from an average £948 per car to £1335, while convertible buyers get £1191 per car, up from £718 last month.
This means that the combined cash and finance Target Price saving across coupés and convertibles is currently £5141 per car.
BMW and Mercedes-Benz dealers offer the largest cash Target Price discounts, with an average 20.7%, or £17,433 per car off Mercedes-Benz SL variants and a typical 17.1% or £15,243 per car reduction on BMW 8 Series models.
At the other end of the scale, dealers can sell niche cars such as the Fiat 500C, Mazda MX-5 RF and Volkswagen’s T-Roc convertible and keep the average cash Target Price discount pegged at no more than 3%. Toyota is offering the best overall finance deal, with a 1.9% APR PCP that comes with a £2000 per car finance deposit contribution on Supra models.