Target Price Market Report – March 2021
Target Price market report: large SUVs
The average cash Target Price discount has fallen by more than 17% over the last six months and is currently 5.3% or £2271 per car.
This is the second lowest typically available cash discount in our Target Price inventory, ahead of hot hatchbacks and sports cars.
While SUVs have proven to be the most in-demand vehicle segment, large SUVs have long been the most sought-after SUV variant, allowing salespeople to better dictate the amount of discount they will sanction to get deals done. For reference, What Car? classifies any SUV longer than 4.5m as falling into the large SUV category.
The Pandemic trading environment of reduced vehicle supply and pent-up consumer demand has helped to embed this trend and did contribute to the average cash Target Price discount dipping below 4.9% (£2071 per car) in November 2020.
Three manufacturers that offer a cash incentive in lieu of their respective finance offers dominate the highest average cash Target Prices within the segment.
Nissan is offering a 14.9% or £4720 saving on X-Trail models, Seat buyers can haggle a typical 13.5%, or £4655 saving on Tarraco versions, while Citroen dealers will sanction a 9% or £2409 discount when selling C5 Aircross variants.
While some car makers such as Cupra, Kia and Mazda have restricted the typically achievable cash discount to an average of 2.5%, customers buying using a manufacturer-backed PCP deal can pick up a finance deposit contribution of £2000 per car on Mazda CX-5 variants and £1500 per car on Cupra Formentor and Kia Sorento models.
The average PCP APR available across the large SUV segment has been reduced slightly from 4.5% to 4.3%, while the associated average finance deposit contribution has remained stable at £1375 per car.
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