They say "at a significantly reduced price".

Has anyone had experience of what this offer looks like?

These offers usually mean a combination of lower interest rates, deposit contributions, or temporary discounts rather than a large price cut. The exact value can vary by dealer and model. It is worth asking for a full written breakdown and comparing it with independent finance options. That way, you can see if the “reduced price” really offers good overall value.

The have to do something for "New" when they have things like this happening

£617 monthly payment...

Seriously? £617 every month? That's £7,404 per year!! Does that include everything? Tax? Insurance?

I just paid £850 for a 25 year old Fabia. If it lasts till the MOT and fails terminally (in September, 6 months hence), I'll still be £2,986 better off. Not likely though.
And frankly, I could have haggled the Fabia down more (owner started at £1000 🤣) , but the engine appears well looked after (recent oil changes etc, and other work with receipts, presented clean throughout, including the engine bay, clean MOT, and only 83000 on the clock), so I went easy.

Each to their own, but when the talk is of "cost of living crisis", I can't see how people can consider paying that much just to have a new car on the drive.

^^^ Business / commercial users, BIK, EV,s , so means of getting about reping etc. Rent an Electric Vehicle that maybe they can charge cheaply at home or work. 300 miles for under £10.