Germany Resorts to More Cuts in Car Prices to Drive Sales
The percentage of discounts offered on the purchase of new cars in Germany increased, after the poor start of the car market at the beginning of the second quarter of this year.
This came according to a market study conducted by the Car Institute for Automotive Research of the University of Duisburg, western Germany, where the study showed a slight increase in the values of reductions in April, compared to what they were in March.
The study indicated that the discount rate that was granted by online distributors on purchasing new cars last April reached an average of 17.9%, an increase of 0.2 points compared to the March discounts.
Thanks to the financial purchase incentive provided by the German government, this percentage increased for fully electric cars to 36.4% and for hybrid cars to 27.3%.
And the study noted that last month, car producers and distributors registered cars for their own account in the last month, and slightly less, than was the case in March, for the purpose of marketing them at a later time as special offers.
The percentage of new cars that were licensed in this way last month decreased by 0.8 points, to 26%.
Last month, the number of cars presented in the offer known as “car subscriptions”, which relates to the conclusion of rental contracts that include maintenance and insurance, increased, as the number of models presented in this offer reached 416 models, an increase of 36 models compared to March.