Car Leasing News

Piling stock of unsold cars has forced UK car dealer to extend an extraordinary offer of ‘buy one and get one car free’, sending shock waves in the motor industry.

The online car broker Broadspeed.com, based in Colchester informed that it sold last of its Dodge Avenger saloon after announcing the offer which is normally resorted to by supermarkets.

Excited buyers got two Dodge Avenger SXT 2.4i cars with air conditioning for £20,000. Record demand resulted in the company website crashing temporarily.

Managing director of Broaspeed.com, Simon Empson, announced plans to offer more such “BOGOF” deals in future.

The stunning offer was described as “almost unbelievable” by the experts from the car industry, who considered this as a glaring sign of a big crisis in the car industry.

According to the Society of Motor Manufacturers and Traders, the UK car sales in August were at their lowest level since 1966. October sales recorded 23% fall, biggest in 17 years.

Struggling consumers were holding on to existing vehicles resulting in slump in sales. This week 4 big car dealerships went under administrator, causing loss of 400 jobs. More are likely to close in next few months.

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