Sign of the times…..

[Flatcoat]

Just had a sales promo message from my dealer saying Toyota have reduced finance rates to as little as 0% for some models (BZ4X at a guess). Sign of the times….. slow car sales and having to work harder to get them. 

[Bper]

Hi Adrian,It's definitely a sign of the times. Lower finance rates are often used to incentivise car sales during slower periods. It's a win win for both customers looking for a good deal and dealers trying to boost sales. Economic conditions are no doubt having an effect.

[philip42h]

22 minutes ago, Flatcoat said:

0% for some models (BZ4X at a guess)

A good guess - if you didn't cheat! 😉

I did - 0% on the bZ4X, 1.2% on the RAV4 PHEV, and 8.9% on the RAV4 HEV ... so exactly what is that telling us?

[Cyker]

It's all government pressure - They're threatening car companies with fines if they don't sell enough EVs, but nobody is buying them so they're caught in the middle.

It doesn't help that there is a glut of EVs on the used market as well, which is pushing down all their prices and making it even harder to sell new ones.

Given hardly anyone in government drives an EV, and in fact seem to be mostly swanning around in diesel range rovers, it's all very hypocritical. I'm kinda hoping car companies band together and take them to court or something - I feel like this sort of market interference is unprecedented. Car manufacturers are subject to market demand and can't sell things people don't want...

 

[Flatcoat]

It was a guess albeit given most EV’s are available on 0% at the moment it wasn’t a risky one. The 1.2% on the PHEV is a surprise however the Toyota I would now buy new is no longer available, a Highlander. Used finance at Toyota dealers is 8.5% so a non starter to swap out if 1.9% finance! 

[Rav Rob]

2 hours ago, Cyker said:

It's all government pressure - They're threatening car companies with fines if they don't sell enough EVs, but nobody is buying them so they're caught in the middle.

It doesn't help that there is a glut of EVs on the used market as well, which is pushing down all their prices and making it even harder to sell new ones.

Given hardly anyone in government drives an EV, and in fact seem to be mostly swanning around in diesel range rovers, it's all very hypocritical. I'm kinda hoping car companies band together and take them to court or something - I feel like this sort of market interference is unprecedented. Car manufacturers are subject to market demand and can't sell things people don't want...

 

They are doing the same to the poor heating boiler industry, putting 'fines' on sales of normal ones they sell if they don't sell a high enough proportion of heat pumps. Its highly unethical to me.

[GBgraham]

1 hour ago, Rav Rob said:

They are doing the same to the poor heating boiler industry, putting 'fines' on sales of normal ones they sell if they don't sell a high enough proportion of heat pumps. Its highly unethical to me.

Welcome to 1984 . . . . 😉

[Flatcoat]

The whole of nut zero is unethical. 

[CPN]

1 hour ago, Flatcoat said:

The whole of nut zero is unethical. 

Wash your mouth out with soap and water!! 🤣

[NASY]

Just had my car serviced and the sales guy was telling me how they can get and sell PHEVs or EVs but standard RAVs are a poor deal for them and not so easy to come by - emissions obviously. Government policy does look pretty feeble in the longer term as it is highly unrepresentative of the majority view, so unless they think they know what the public wants better than the public does, which is obviously ridiculous, I don't see it lasting.

[ToyotaFanDriver]

The 0% is on the EVs as it is at other manufacturers. When I bought my RAV I was having a good chat with the sales chap who was pretty candid about how the dealership make their money. He went on to say that there will be a 4/5 figure fine in future for each non ev care sale that doesnt meet the x% of total car sales being EV.

 

Pure madness, it will end up being a scandal in future. Cars being sold to people who's needs are not met. I'm sure EV works for some and thats great but for many (my self included) its a future hellscape of car ownership.

[Flatcoat]

Just wait for the Govt to ban imports of non EV cars…. Ethiopia has just done so….. (a country where 46% of the population do not have access to electricity) so one can expect other govts to soon follow. 

[Rav Rob]

2 hours ago, Flatcoat said:

Just wait for the Govt to ban imports of non EV cars…. Ethiopia has just done so….. (a country where 46% of the population do not have access to electricity) so one can expect other govts to soon follow. 

I have said it before, we could end up like Cuba where old cars are just kept running for decades. I might get myself a small unit with a ramp, there will be a fortune to be made doing ICE servicing in the future Haha.