Review
First-quarter registrations of the MX-5 were down 1.1% year-on-year, at 1,556, of which 1,118 were retail orders.
In Q2, Mazda has put a £500 deposit contribution behind its 37-month PCP on 3.9% APR, which keeps monthly payments at £299 if the buyer can put down a £2,451 deposit for the entry-level 1.5-litre SE MX-5 soft-top.
However, it is being less generous with the more premium RF, which it introduced just three months ago. For a similarly powered RF in SE-L trim, with its electrically folding hard-top, there is no deposit contribution and the PCP is at 5.9% APR. Clearly Mazda and its dealers have identified a better profit opportunity while the RF is fresh. But the more premium two-seater needs a more premium customer; one who is able to put down a £3,060 deposit and afford £389 per month.
The Mercedes-Benz SLC may give Mazda dealers a headache this summer, however. A new entry-level SLC 180 is being launched this June and aims to steal some of its glory, even though it is far more expensive than our MX-5 RF, at £32,039.
Mercedes can subvent the overall cost to the customer, and it claims that because the SLC has stronger residual values it will be able to market the rival on a PCP with lower monthly payments. To shift stock of its previous cheapest convertible, the SLC200, Mercedes is currently offering a £6,158 discount if buyers sign a £299 monthly PCP and pay a £4,999 deposit.
An award-winning journalist and editor, with two decades of experience covering the motor retail industry, and accredited by the Institute of Leadership and Management (ILM) plus the National Council for the Training of Journalist (NCTJ)
As editor of AM since 2016, Tim is responsible for its media content, planning and production across AM's multiple channels, including the website, digital reports, webinars, social media and the editorial content of AM's events, Automotive Management Live and the AM Awards. His focus is on interviewing senior leaders of franchised dealer groups and motor manufacturer national sales companies to examine latest developments in UK motor retail.
Factsheet
Price: £27,165
Engines: 2.0-litre petrol, 161PS
Performance: 0-62mph 7.4secs, top speed 134mph
Transmission: 6sp manual
Fuel effiiciency: 40.9mpg
Emissions: 161g/km CO2
Start mileage: 870
Current mileage: 1,630