Car Buyers are Looking to Mainland Europe

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Thu, 14 Aug 2008

Cars in mainland Europe are 12% cheaper than in Britain.

Recent research highlights that one out of six new cars is going to be bought in mainland Europe in 2009. The British Independent Motor Trade Association, which had the research undertaken, states that these figures signify that Brits based in the UK are not willing to pay over the top prices for new cars.

16% of new cars are going to be bought in mainland Europe, a figure which is set to rise as increasingly more consumers build their confidence with regard to buying cars over the internet .

Brits buy two million cars every year, with private car sales making up approximately 40% of the market.

In early 2008, the government specified that UK car manufacturers reduce their prices when it was discovered that motorists were forking out 12% more for cars than their mainland European counterparts.

A Competition Commission report has established that private buyers are paying approximately £1,100 for the average car . Overall, the cost to car buyers in the UK amounted to £1bn a year.

In July, Stephen Byers, the Trade and Industry Secretary, asserted that from September 2008 onwards car dealers are going to have to offer exactly the same benefits to individual car buyers as those buying fleets of cars.

Car manufacturers added that they welcomed this instruction as it will end uncertainty over car prices, which has put off many consumers from buying cars.

The Society of Motor Manufacturers and Traders stated that UK car prices have decreased by 6.5% in the last two years.