Car sales

rockits · Mar 17, 2020

lozcb said:
Sure be nice to know someone got the better of then for once LOL

I did the other year

Sold a double cab Toyota HiLux Invincible to them for more than I could have sold privately or traded in for. Bizarre. It was mint but I bit their arms off just the same

rockits · Mar 17, 2020

Ewan said:
VW has announced factory closures this morning. More to follow.

3m people in the UK work in the hospitality industry, and we have to assume that the majority of these will not be working for at least the next few weeks, if not months. For examples, the Carluccios chain is about to announce closures. How are these people going to be paying for their existing car loans, as its not as if these are highly paid jobs in the first place...

Agreed. This is the immediate domino effect that many are forgetting. There is so much personal debt and many people have been living beyond their means for so much for so long I expect many couldn't get past the end of this month without immediate financial issues.

This is the worry and kicks off a much bigger domino effect all the way down the line. The longer it goes on the harder, deeper and further it will go.

It is not rocket science. People, the govt and the world have known this for years and chosen to do nothing about it.

Keano · Mar 17, 2020

Guy with a bunch of second hand garages locally says last year was tough but this virus has so far been good as people who were commuting to work on public transport and maybe not needing a car are now buying second hand cars to avoid public transport. Once they go back to work they will likely sell them back to him and he has made his money

empzb · Mar 17, 2020

Not reflective of the wider market but a friend of mine needs to offload his r8 to cover business expenses. He wont be alone.

New car sales were dropping anyway, this'll make them plummet. Second hand market is likely to flood apart from those who have money in the bank to ride this out. Will be a buyers market is this really hits the fan.

Wack61 · Mar 17, 2020

bigbob said:
Yep, only people getting new cars will be those whose PCP’s will be up in the next six months. Most cannot afford the balloon so will roll into another car, but a cheaper model. This was already happening - my local Audi dealer used to be one of the largest RS/S dealers in the UK but A1s seem to selling a lot better now than they used to!

Caterham dealers are strange creatures as they often have cars in stock for well over a year. He will just pretend winter is a bit longer this time round.

There is a hilarious thread on PH with some Supercar owners convincing themselves that top end mid engined exotica will not fall in value - wishful thinking, we are in for six months of carnage.

Wonder how the 20k Ford Escort market will fare , imagine being 80% through a restoration to see values plummet

GeoffCapes · Mar 17, 2020

Nissan have just halted production in Sunderland. To quote the BBC:

Nissan says it is is suspending vehicle production at its plant in Sunderland, north-east England due to the impact from coronavirus.
The Japanese company says "further measures" are also under consideration as it assesses "supply chain disruption and the sudden drop in market demand caused by the COVID-19 emergency".

rs48635 · Mar 17, 2020

surely huge changes ahead as PCP and lease deals unwind. There might be a glut of cars including stuff we like.

Ewan · Mar 17, 2020

The H&H auction for tomorrow has just announced it will be conducted behind closed doors, so online and telephone bidding only. Some things could well go cheaply, e.g. the 55k mile, 2003 silver 4200 Spyder. Not many people will bid for one of these sight unseen, especially not in the current climate.

Time for the brave to step forward?

Felonious Crud · Mar 17, 2020

Ewan said:
The H&H auction for tomorrow has just announced it will be conducted behind closed doors, so online and telephone bidding only. Some things could well go cheaply, e.g. the 55k mile, 2003 silver 4200 Spyder. Not many people will bid for one of these sight unseen, especially not in the current climate.

Time for the brave to step forward?

How about the Conti R?

https://www.handh.co.uk/auction/lot...0&au=329&ef=&et=&ic=False&sd=0&pp=48&pn=1&g=1

philw696 · Mar 17, 2020

I have always liked those and that one has interesting history.

Felonious Crud · Mar 17, 2020

philw696 said:
I have always liked those and that one has interesting history.

Yeah, it has an elegant brutality about it. Bloody wonderful thing.

bigbob · Mar 17, 2020

Felonious Crud said:
How about the Conti R?

https://www.handh.co.uk/auction/lot...0&au=329&ef=&et=&ic=False&sd=0&pp=48&pn=1&g=1

Love them. When I was bombing round London in the 1990s in my BMW that's what the classy money was driving.

iainw · Mar 17, 2020

Ewan said:
But what demand? Lots of unfortunate people are going to lose their jobs, while lots of rich people have seen their wealth diminish by circa 25% over the last 2 weeks.

Anyone trying to sell a car should do so now, before the real depreciation kicks in. Dealers with large inventories will be stuffed and part ex values will be woeful. It’s about to get ugly.

I have to say Ewan I agree. VERY few people will be spared a huge economic hit- for some it will be cataclysmic. Even the super rich will be hit by 25% losses. I think it would be insane to buy at the current prices. 25% off would be a reasonably entry offer. I am literally desperate to buy to cheer myself up when I am risking my life every day- but the dealers or private sellers don’t seem to get it ‘yet’.

Wattie · Mar 17, 2020

iainw said:
I have to say Ewan I agree. VERY few people will be spared a huge economic hit- for some it will be cataclysmic. Even the super rich will be hit by 25% losses. I think it would be insane to buy at the current prices. 25% off would be a reasonably entry offer. I am literally desperate to buy to cheer myself up when I am risking my life every day- but the dealers or private sellers don’t seem to get it ‘yet’.

This.
Total carnage.....
All this debt is about to implode. Garages will be thumped.

Wack61 · Mar 17, 2020

I think we buy any car have updated their system , my 2018 mustang with 6000 miles on has just been valued at £20,800 , there's not one up for retail anywhere at under 30k.

Wack61 · Mar 17, 2020

Confirmed, a guy on the mustang forum put his 62 plate range rover sport in , last week 14k, this week 11k, they must be getting thousands looking for a get out

Ewan · Mar 17, 2020

If the Caterham dealer (the group sales manager) offered me, say, £500 quid off the asking price and delivered it to me, he’d have my money instead of a depreciating asset. Does he not watch the news?!

outrun · Mar 17, 2020

Yup, sales will be hammered but on the plus side, i'm turning the FF into a dog car. F it, you only live once, and maybe not for long!

I think it's gone down by about 15k in the past month. So i might as well keep it. First world problem.

Wattie · Mar 17, 2020

Ewan said:
If the Caterham dealer (the group sales manager) offered me, say, £500 quid off the asking price and delivered it to me, he’d have my money instead of a depreciating asset. Does he not watch the news?!

Why would you take a £500 discount when in a few weeks it will be thousands?

Nayf · Mar 17, 2020

Felonious Crud said:
Yeah, it has an elegant brutality about it. Bloody wonderful thing.

Every one I’ve driven has driven in an entirely different way.
Kind of like them for that, to be honest.

Lots of them are being dumped in auctions here and abroad... supply is outstripping demand, I feel.

Car sales

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