Target Price Market Report – April 2021

Segment analysis: Family Cars

The average cash Target Price discount across the family cars segment is broadly unchanged at 6.1% or £1720 per car.

Seat dealers are the most generous, at 13.2% or £3473 per car on Leon variants, followed by Renault with a typical 12.8% or £3175 saving on Megane models and Kia Niro Hybrid versions at 10% or £2887 per car.

This places family cars third lowest in our all-segment league table, ahead of large SUVs, hot hatches and sports cars.

Despite having one of the lowest average cash Target Price discount rates, the level of manufacturer-backed finance Target Price savings is the third highest at 37% (£1010 per car) of the combined cash and finance Target Price total.

This means that more than 70% of the models within the segment have this added finance Target Price saving support, with Mazda, Peugeot and Kia leading the way with an average £3000 per car on Mazda 6 models, £2575 per car on Peugeot 308 variants and £2500 per car for Xceed versions.

We would usually expect car makers to weight the Target Price discounts towards finance to this extent when they want to maintain, or build, sales volumes without distress selling their cars through overt cash discounting.

Such a policy would typically apply to brand-entry models, such as city cars and small cars or in-demand variants such as SUVs. To see it applied to the family car segment is unusual, and it may be another indication of the industry wishing to move the discounting variability associated with new cars away from the dealers and more under the control of manufacturer marketing teams.

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