Discounts on 2020-registered cars put pressure on new car sales

Savings on nearly new 2020-registered cars are putting pressure on new car sales targets for September’s registration plate change, according to Buyacar.

Research conducted by the online car retail platform found savings of up to 42% compared with list price for 2020 cars, often on vehicles with as little as 10 miles on the clock.

Buyacar said this spells good news for motorists as they make the most of the discounts as dealers clear the decks for new stock.

Christofer Lloyd, editor of BuyaCar.co.uk, said: “Motorists are less concerned than ever before about having the very latest registration plate on the drive, so a current year car is more than good enough for many people.

“The impressive array of savings on many low mileage cars registered this year is bound to put even more pressure on September’s new plate launch, which is always the last big push of the year for dealers and manufacturers.

“But we believe that these savings on 2020 cars are not the last we will see of major bargains this year. September is bound to bring heavy discounting on brand new cars too, as the industry fights to recover from its worst year in living memory, due to the coronavirus crisis.”

New car sales for July 2020 were up 10.43% compared to the same period last year, showing promise for the September pate change, according to Carwow.

The Society of Motor Manufacturers and Traders (SMMT) expects the market to end the year 30% down on 2019 following the impact of Coronavirus – representing more than £20 billion of lost sales

20 cars registered in 2020 with discounts available from BuyaCar.co.uk (as of August 20)