Research by Glass’s Market Intelligence Service shows that the list price of the average new supermini dropped 2.1 per cent, year-on-year, to the end of April – more than for any other type of car. By contrast, list prices across the UK’s new car market as a whole increased, albeit by a modest 0.9 per cent, equivalent to an annual rise worth £123.
The average new car list price rise contrasts strongly with the Government’s preferred measure of inflation – that reports a 1.7 per cent increase during the same period. The below-inflation uplift in average list prices for all new cars is part of an ongoing trend. In the face of falling new car registrations and intense competition, manufacturers remain reluctant to pass on rising steel and energy costs in case they put off more prospective buyers.
Sector-by-sector price changes
The 2.1 per cent fall in average supermini list prices, equivalent to a drop of £209, has been partly influenced by the arrival of a new budget model, the Kia Picanto, which has prices starting at just £5,352.
The above-average increase in list prices of compact family cars comes partly as a result of the launch of several new models over the past year – the Astra, Focus and the face-lifted Corolla to name but a few. Typically, these models have come in at around 4 to 6 per cent higher than their predecessors, which has inevitably contributed to new car price inflation in the sector.
The volume-brand upper-medium car sector [Ford Mondeo, Vauxhall Vectra, Toyota Avensis, etc] continues to have some of the fastest rising list prices, with the sector as a whole up 2.7 per cent, or £435, over the past year. This has primarily been led by upgrades and new model introductions. For exanple, the entry point for the Renault Laguna diesel range is now more expensive, thanks to the 100bhp engine being replaced with a 120bhp unit. in Addition, SEAT’s Toledo has been radically revised, which has been coupled with a price premium over the outgoing version.
The list price of the average
SUV increased in price by 1.5 per cent over the last 12 months. However, if you discount the arrival of the BMW X3 at the prestige end of the market, the average list price rise for the sector would be only 1 per cent.
The biggest list price changes
In pound note terms, the single biggest list price rise was in April for the Audi Allroad 2.7T Quattro Limited Edition Estate, or 2.9 per cent, to £34,080. The largest single price list reduction last month was for the Renault Vel Satis 3.0 V6 dCi Privilege, which dropped £1,740, or 6.3 per cent, to £25,787, to clear remaining stocks.