As the automotive finance landscape continues to evolve, September witnessed yet another slowdown across EU7 markets, with a 41% decline in finance offer modifications compared to August. A total of 607 changes were recorded, down from 853 the previous month.
This downturn contrasts with the usual seasonal uptick in September, suggesting that manufacturers may be holding back on finance offers as they reassess market conditions and prepare for year-end strategies amid slowing consumer demand.
Key Highlights:
Overall decline across markets: finance modifications fell sharply in major markets such as Great Britain (-68%) and Germany (-127%), while Spain and Belgium experienced more moderate drops at -5% and -11%, respectively.
Brand performance: OEMs continued to refine their offers, though at a slower pace than in previous months. Volkswagen led the pack in both France and Germany, while BMW maintained its strong presence in Italy and Spain.
D-SUV segment focus: The D1 and D2 SUV segments offer insight into how brands are approaching the mid-size and large SUV categories, which continue to be popular among European consumers.
Market breakdown:
September saw the most significant reductions in Great Britain (-57 offer changes) and Germany (-81 changes), both markets being key battlegrounds for automakers. However, Spain (-5 changes) and Belgium (-8 changes) remained relatively stable, highlighting different dynamics across the region.
|
Market |
September |
August |
% difference |
|
Great Britain |
84 |
141 |
-68% |
|
Belgium |
72 |
80 |
-11% |
|
France |
88 |
109 |
-24% |
|
Germany |
64 |
145 |
-127% |
|
Italy |
94 |
114 |
-21% |
|
Spain |
99 |
104 |
-5% |
|
The Netherlands |
106 |
160 |
-51% |
|
Total |
607 |
853 |
-41% |
Brand insights:
Volkswagen was particularly active across several markets, posting a 14% increase in France and maintaining strong performances in The Netherlands and Germany. Mercedes, on the other hand, experienced significant drops in Germany (-217%), indicating a more cautious approach after aggressive summer campaigns.
|
Market |
Brand |
September |
August |
% difference |
|
Great Britain |
MERCEDES |
14 |
13 |
7% |
|
SKODA |
8 |
8 |
0% |
|
|
BMW |
7 |
10 |
-43% |
|
|
Belgium |
HYUNDAI |
9 |
8 |
11% |
|
OPEL |
9 |
1 |
89% |
|
|
SKODA |
9 |
5 |
44% |
|
|
France |
VOLKSWAGEN |
14 |
12 |
14% |
|
LAND ROVER |
8 |
7 |
13% |
|
|
FORD |
6 |
5 |
17% |
|
|
Germany |
VOLKSWAGEN |
14 |
15 |
-7% |
|
AUDI |
8 |
16 |
-100% |
|
|
MERCEDES |
6 |
19 |
-217% |
|
|
Italy |
BMW |
21 |
24 |
-14% |
|
CITROEN |
7 |
3 |
57% |
|
|
TOYOTA |
7 |
7 |
0% |
|
|
Spain |
BMW |
22 |
18 |
18% |
|
HYUNDAI |
9 |
7 |
22% |
|
|
MAZDA |
9 |
7 |
22% |
|
|
The Netherlands |
VOLKSWAGEN |
13 |
11 |
15% |
|
SKODA |
8 |
8 |
0% |
|
|
TOYOTA |
8 |
10 |
-25% |
D-SUV segment analysis:
The D-SUV category continues to attract attention, with monthly instalments and interest rates showing significant variation across markets. French consumers face the highest monthly instalments for D1 and D2 SUVs at an average of €1,503.91, paired with a high APR of 9.25%. In contrast, Germany offers the most affordable options with average monthly payments of €813.23 and a competitive 5.15% APR.
September marked a period of adjustment across the European automotive finance market, with finance offer changes down significantly from August. Despite this slowdown, brands remain active in strategic markets, particularly in the competitive D-SUV segment, where price sensitivity and interest rates are driving consumer decisions. As automakers continue to adapt to shifting market conditions, finance trends will likely remain fluid, especially with the expected rebound in activity as the year-end approaches.
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Data disclaimer: The changes reported here are correct as of 21.10.2024 and could potentially change in the future as fresh data become available