Now that used cars just aren't getting any cheaper, consider becoming the first owner of your next car. Even if you do it for the smell of a new car. If you are planning to buy a new car in 2024, pay attention. In the second half of the year, the prices of certain older models may drop quite a bit.
In the EU, car manufacturers have to deal with the Vehicle General Safety Regulation (GSR). This directive sets minimum safety requirements for cars built before a certain date. The safety requirements will be updated in July this year. For example, models introduced from July 2022 must have 'intelligent speed assistance' and 'reversing detection with camera or sensors'.
How new cars can become cheaper before July 7, 2024
Until now, it was about the introduction date of the model, not the production date of the car. Fiat is allowed to produce the Panda (purely as an example) new without the functionalities, since the car is basically old. But that is now going to change. Soon, all cars that roll out of the factory new will have to meet the requirements of the GSR, including old designs. And that increases the pressure on dealers to sell old stock.
The Belgian Car fans spoke to Kristof Winckelmans from Astara Western Europe about the new regulations. According to Winckelmans, car manufacturers will be under pressure to sell the cars produced that do not comply with the new rules before July 7. So that sounds like a sale at the dealers on certain models.
The Toyota GR86, for example, is a car that does not meet the new requirements of the GSR. In 2023, Toyota stopped production for Europe, only in the US. There won't be huge numbers in stock at dealers in the Netherlands, but who knows. Last year, Toyota registered only ten copies of the sports car. That was nine more than the Supra.
This way dealers can avoid the price drop
According to the RAI Association cars that do not comply with the new GSR directive may no longer be registered. This is therefore important: dealers can also choose to register cars that have not been sold before July 7. If dealers forget to register older models, these cars will no longer be able to hit the road in Europe and will therefore be unsellable here.
So it is not the case that you can walk to the dealer on July 6 and bid a case of beer on a car, because dealers are smart enough to register the cars. Moreover, many cars will simply meet the GSR requirements. Bargaining mercilessly for a model that has recently been introduced is completely hopeless. Although it is always worth a try.
Dealers and importers who quickly register older models before July 7 will want to sell them as quickly as possible, because in 2025 they will be a year older according to the registration and then they will also become less valuable. So it can be a good time to go to the dealer for a nice stock copy of a model that has been for sale for a while.
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