Target Price Market Report – October 2021
Segment Analysis: Small SUVs
The average cash Target Price discount across the small SUV market is currently 5.9%, or £1629 per car. This represents a reduction of 19.8%, in relative terms, over the last 12 months.
Small SUVs, along with family SUVs, have traditionally afforded the highest transaction price savings among the SUV market generally, and this trend has continued within the current lower discount environment.
This is due to a wide range of competition within the segment, and because consumers may also include models from the small cars segment in their shopping list.
Five manufacturers are offering double-digit average cash Target Price savings, with the top three being a 14.4% (£3917 per car) saving on Jeep Renegade variants, 13.5% (£3307 per car) on Suzuki Vitara models and a 10.9% (£2593 per car) saving for consumers buying Renault Captur versions.
Conversely, anyone wanting to buy a Toyota Yaris Cross will have to pay the full brochure price.
After allowing for dealer contributions towards manufacturer’s finance offers, the cash Target Price discount is adjusted to £1362 per car. When customers buy using a manufacturer-backed PCP deal, at an average 4.6% APR, they can take advantage of an average £900 per car finance deposit contribution. This means the total (cash and finance) average Target Price saving available across the small SUV segment is £2262 per car.
Car manufacturers are continuing to support dealers’ sales efforts with finance incentives, which include an average £2179 per car finance deposit contribution on Skoda Kamiq, Seat Arona and Vauxhall Crossland models, and an interest-free PCP option on MG ZS variants.