European Automakers Giving Discounts to Spur Sales

As the European market continues to contract, automakers are struggling to get any sales they can. Many are resorting to offering their cars at deep discounts.

FordFordUnited States of America, 1903 > present92 models
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is one of the few automakers not trying discounts to increase sales, but its not working. It predicts that it will lose $570 million in Europe in the second quarter. Ford sold 10% fewer cars in Europe in the first half of the year in terms of volume and sales are down 16.1% in June. It lost $190 million in the first quarter. Ford is beginning to see that discounts may be necessary in the current European market, though. In Germany, the Ka is on sale for €7,950, compared to its €9,800 base price. 

If you are buying, there are some amazing deals to be had. A dealer in Britain Jaguar XF SportbrakeJaguar XF Sportbrake 3.0 ...United Kingdom, 2012 > present1 photo
at an 8.5% discount, and the car does not go on sale until November. FiatFiatItaly, 1899 > present159 models
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is giving Italian buyers a card that gets them gas for €1 a liter and gives them a free €1000. In Spain, RenaultRenaultFrance, 1898 > present189 models
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will give you a TwizyRenault TwizyFrance, 2010 > present24 versions
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electric car, if you buy as Espace or LagunaRenault Laguna Gen.3France, 2007 > present125 versions
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. German dealers are offering the GolfVolkswagen Golf Gen.6 [Mk6 - A6/Typ 5K]Germany, 2009 > 2012249 versions
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for €12,990 both due to slow sales and the new generation coming later this year; it usually sells for about €17,000.

"It's an absolute bloodbath. It's very aggressive in the company fleet market and consumer sales at the same time,” said Yves Pasquier-Desvignes, president of GMGMUnited States of America, 1998 > present8 models
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France.

As European auto sales continue to fall, expect to see more discounts as automakers attempt to lure customers. 

Source: Automotive News