Broadspeed.com, a new and used car website, announced today it will not re-enter the imported new car market.
Simon Empson, managing director, says: "We excluded imports from the Broadspeed.com website last year because UK cars now offer clear advantages that they did not offer back in 1999. As far as Broadspeed is concerned, imports no longer offer better value.”
According to Empson, a buyer in 1999 who might have secured a 30% discount off UK list price from an EU dealer loses 10% of that through today's € / £ exchange rate. He also claims that EU new car prices have risen by up to 10% over the past three years – while UK new car prices have fallen by at least 10%.
Import car buyers have to factor in the cost of extra warranty to match the UK's three years' cover – and must also expect heavier depreciation on re-sale.
Simon Empson adds: "It was internet operators like Broadspeed.com that allowed UK car buyers to compare UK and import prices side by side and then order cars wherever it was most advantageous.”
Broadspeed has placed orders for more than 30,000 new cars since 1996 and is on track to place more than 5,000 UK-sourced new car orders in 2004.