What shape will the car industry be in after all this?

Devonboy

Devonboy

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Wattie said:
They won’t be funded after this!

It's only as good as its trustees, who are meant to ensure it can meet all current and future obligations to members. The employer would have to bail it out in the last resort.

Any scheme falling into deficit will have to rely on the company coming to the rescue if necessary. That is a cause for concern in these times.
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Wattie.......your glee at the end of the world is evident....but pension transfer suggestions? Really? Unlike you, I can’t see ahead 10years, but I am the world expert on me. Nobody knows more about me, than me. I can’t even predict what I will be doing in 6months time let alone 5 years.....ps a whole load of scheme members dying from the pandemic could also help with the underfunding.....
 
Wattie

Wattie

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Devonboy said:
Wattie.......your glee at the end of the world is evident....but pension transfer suggestions? Really? Unlike you, I can’t see ahead 10years, but I am the world expert on me. Nobody knows more about me, than me. I can’t even predict what I will be doing in 6months time let alone 5 years.....ps a whole load of scheme members dying from the pandemic could also help with the underfunding.....
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I’ll ignore your glee comment - if members die, death in service/ life cover/ widows pensions/ dependents pensions etc become due. How does that help with underfunding?
Just my advice based on experience and understanding of the current situation. Do you think Employers Pension schemes were prepared for this?
I understand you feel differently. Time will tell.
 
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bigbob

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Wagons-Lits said:
Maybe in the rest of the UK but not in London. Remember this is all temporary and people (generally) have short memories

take heart exotic car lovers, people were saying the same things about cars/social “responsibility”/green movement in the early 90s and post early 90s recession and look where we got to: a golden age of cars
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You might be right, one thing for sure is that London has increasingly become dislocated from the rest of the UK and that is likely to continue in a Singapore way, however, this crisis makes previous experiences small in comparison. As a lad I remember watching the News at Ten every Friday night in the early eighties when they did the jobs lost for the week slot and then I was working in the largest trading room in London when we left the ERM in the early nighties. These were scary at the time but they were actually simpler and easier to get out of.

I agree that we will recover and that people essentially like a good time - I buy into the economy and collective human will but I wonder if things will be different afterwards this time in ways that we cannot currently see.
 
MaseratiGent

MaseratiGent

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To answer the question and forgetting the economic/financial situation I think there will quite a change in political discourse in two veins.
  1. Evidenced ability to reduce CO2/other emissions and the world to be 'green'. This could manifest itself as a requirement on corporates to reduce CO2 e.g. 2.5% per annum - implemented as reduced travel, 10% of work force work from home etc. We saw similar societal changes after WW1 when lo and behold it turned out women could work - the persisted.
  2. A general rallying against the rich/wealthy.

#1 and #2 don't end up good backdrops for performance car ownership or production!
 
rockits

rockits

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I agree. We all personally and business driven could and should do more. Many are and many will but many won't until forced. The time is now to start forcing.

Stop namby pambying around and tip toing around the issue trying to be nice or accomodating people or business.

This crisis has shown many that so much travel really isn't essential. Even though many still don't seem to grasp the concept throughout this crisis.

The cost of globalisation has been greater than the good IMHO. This needs to change as much of it just doesn't make sense.

Global travel was a luxury many years ago and has became normalised over time but much of it was never essential. We need to go back to understanding what is an essential and what is a luxury as some have no clue. No clue at all.
 
F

flat-12

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As one who has worked in the automotive supplier world for 40 years, I see things becoming even more dog-eat-dog than before. The work force is already seen as a commodity, which becomes painfully apparent when the only reason for existing is profit for a at the top. Maybe I'm just getting soft as I get older - I don't know. I've seen the ups and downs, and the "flavor of the month" trends, etc. There's nothing wrong in meeting new challenges, that keeps us on our toes. But as of late, I'm seeing decisions made with the assumption that a machine operator is exactly the same as any other - which is absolutely not true. The old saying..."it's hard to find good help now days"....has never been more apparent. To find someone who actually takes pride in their work is extremely rare. All of this results in a downturn in product quality, and may lead to more automation. I've been in middle-management for about 30 years now, and am likely viewed as a relic of the past. I think it's time to find another line of work...
 
Scaf

Scaf

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Wattie said:
I’ll ignore your glee comment - if members die, death in service/ life cover/ widows pensions/ dependents pensions etc become due. How does that help with underfunding?
Just my advice based on experience and understanding of the current situation. Do you think Employers Pension schemes were prepared for this?
I understand you feel differently. Time will tell.
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Your view is very blinkered and based on absolutely no knowledge of the schema I am in and how well they are funded.
 
Wattie

Wattie

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W
Scaf said:
Your view is very blinkered and based on absolutely no knowledge of the schema I am in and how well they are funded.
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On the contrary, I see the big picture of what’s happening.
Time will tell.
 
Devonboy

Devonboy

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I suspect the peeps who calculated the guaranteed future values underpinning all those PCP deals are cacking themselves...
 
philw696

philw696

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Not looking good here in France either and on the news this week they are talking of discounting new cars here 30 to 40% to try and get things moving if we open up on the 11th of May.
Trade in prices will be lower and the used market prices will drop.
Interesting times and I'm not expecting to get any work for Toyota around Europe this year.
 
dickygrace

dickygrace

www.richardgracecars.co.uk
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philw696 said:
Not looking good here in France either and on the news this week they are talking of discounting new cars here 30 to 40% to try and get things moving if we open up on the 11th of May.
Trade in prices will be lower and the used market prices will drop.
Interesting times and I'm not expecting to get any work for Toyota around Europe this year.
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French cars have to be discounted by 30-40% anyway, why else would anyone buy one? If they discount all cars by 30-40% I’ll move to France, and I think my first car will be a €50k brand new Granturismo.
 
StuartW

StuartW

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dickygrace said:
French cars have to be discounted by 30-40% anyway, why else would anyone buy one? If they discount all cars by 30-40% I’ll move to France, and I think my first car will be a €50k brand new Granturismo.
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Sounds like a decent relocation plan to me!
 
Doctor Houx

Doctor Houx

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Like property, if you're trading up then this can be good news as if its the same percentage drop, then this is less in $ terms in the car you are selling vs the more expensive car you are buying, so the price to upgrade is smaller. Cars that were out of reach are suddenly affordable!

Not such good news if you are only looking to sell or trading down to a lower cost car.
 
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