Auto dealers in Canada, Europe offer cheaper premiums for new vehicles
Canadian and European automakers have offered discounts for new cars in the last year that were less than half what they were in 2014, the Canadian and EU automotive associations said Wednesday.
The discounts range from $1,000 to $5,000 per car, depending on the model, the associations said.
The new discounts include a discount of $100 per month for new drivers on the European Union’s Horizon 2020 emission standards.
The U.S. National Highway Traffic Safety Administration (NHTSA) said last week that a driver’s COVID-19 risk can be reduced by up to 40 per cent if they have the car insurance policy.
In a bid to entice buyers, many of the companies have offered reduced prices for new models that are offered for less than $50,000, such as the Cadillac Escalade, the Cadillac CTS and the Audi Q5.
“These discounts are in addition to the many discounts offered by other auto manufacturers, such of the Lexus luxury SUV, BMW X5, Nissan Altima and Volkswagen Golf,” the Canadian Auto Alliance said.
The association said it had received hundreds of comments on its website.