According to a recent market study, bottlenecks on the German new car market are a thing of the past. Manufacturers and dealers lured customers in June with cheap package deals and higher price reductions, reports the Duisburg Center Automotive Research. “The chip crisis, long waiting times and scarcity of new cars are foreign words again,” summed up CAR director Ferdinand Dudenhöffer. Within ten months the market had turned around with car production starting up again. The increased supply is also meeting demand that has been dampened by inflation.
With the price reductions openly advertised on the Internet, VW in particular screwed up the prices for the electric models ID3 and ID4, which recently had to struggle with sales problems. According to the study, the cars can now be ordered including the environmental bonus at a discount of 24 or 21 percent on the list price. The average price reduction for the 30 best-selling cars with combustion engines was 17.2 percent.
According to the study, car subscriptions, including insurance, are becoming increasingly important for the private customer market. 834 of these packages were offered in June, more than ever before in a single month. In May there were 772 offers. According to CAR calculations, the subscriptions are usually cheaper than buying a new car in terms of monthly costs. The waiting times for the subscription cars would have been further reduced.
