Brexit - who's not buying?
Discussion
Just out if interest, is anyone thinking about not buying a new car because of uncertainty and likely short term (at least), economic impact?
If so, should we just take 'cars as investments' to its logical conclusion and short the hell out of listed dealers, especially those with big finance arms? Buy cheap cars with the profits like real enthusiasts.
If so, should we just take 'cars as investments' to its logical conclusion and short the hell out of listed dealers, especially those with big finance arms? Buy cheap cars with the profits like real enthusiasts.
According to two friends (one Ferrari, one Aston) it has been happening already.
Prior to the vote people were waiting to see what would happen and on Friday my Aston friend told me two deals have cancelled due to uncertainty over the economic outlook.
I have been told directly that a certain high end franchise (neither of the above) is carrying 40 unsold new cars in stock which represents around £8m at retail price.
Prior to the vote people were waiting to see what would happen and on Friday my Aston friend told me two deals have cancelled due to uncertainty over the economic outlook.
I have been told directly that a certain high end franchise (neither of the above) is carrying 40 unsold new cars in stock which represents around £8m at retail price.
Debating buying a car myself at the moment. Exact exterior colour and interior colour ive been after, just with recent events making me a little cautious over hitting the button on the sale so to speak.
Its a car at the bottom of deprecation curve so to speak at 8 years old, but worried with all this going on it could drop another say 20 or 30 percent in the next 6 months for example.
Not sure if it will just affect brand new sales, classics that over last few years have gone bit bonkers price wise. Or re adjustment across the whole market.
Crystal ball time
Its a car at the bottom of deprecation curve so to speak at 8 years old, but worried with all this going on it could drop another say 20 or 30 percent in the next 6 months for example.
Not sure if it will just affect brand new sales, classics that over last few years have gone bit bonkers price wise. Or re adjustment across the whole market.
Crystal ball time
Osborne is about to announce 30 billion GBP in tax increases and spending cuts necessary to steady international nerves because of the Brexit vote. UK plc has been downgraded by Moodys. The Pound is being battered. And leading Brexiteers led by Johnson now admit there's no plan A,B or Z to deal with how we exit the EU.
Gold is up, the mid-term outlook bleak.
My two cents: many nice but fundamentally ordinary boats raised during the heady free cash days of 2013-2015 like the 246 Dino, run for the exit now. Brand new sports/luxury cars destined for PCP, severe sales headwinds from the horror realisation Carney wasn't scaremongering, we've voted ourselves a recession. But cars like a 911R probably hold or move slightly positive because they are blue-chip investment grade.....and a safe haven for those with cash. Didn't Johnson tell us the 75K bank guarantee on cash deposits was only because it was a EU directive? Er, don't think he did.
Gold is up, the mid-term outlook bleak.
My two cents: many nice but fundamentally ordinary boats raised during the heady free cash days of 2013-2015 like the 246 Dino, run for the exit now. Brand new sports/luxury cars destined for PCP, severe sales headwinds from the horror realisation Carney wasn't scaremongering, we've voted ourselves a recession. But cars like a 911R probably hold or move slightly positive because they are blue-chip investment grade.....and a safe haven for those with cash. Didn't Johnson tell us the 75K bank guarantee on cash deposits was only because it was a EU directive? Er, don't think he did.
Camlet said:
Osborne is about to announce 30 billion GBP in tax increases and spending cuts necessary to steady international nerves because of the Brexit vote. UK plc has been downgraded by Moodys. The Pound is being battered. And leading Brexiteers led by Johnson now admit there's no plan A,B or Z to deal with how we exit the EU.
Gold is up, the mid-term outlook bleak.
My two cents: many nice but fundamentally ordinary boats raised during the heady free cash days of 2013-2015 like the 246 Dino, run for the exit now. Brand new sports/luxury cars destined for PCP, severe sales headwinds from the horror realisation Carney wasn't scaremongering, we've voted ourselves a recession. But cars like a 911R probably hold or move slightly positive because they are blue-chip investment grade.....and a safe haven for those with cash. Didn't Johnson tell us the 75K bank guarantee on cash deposits was only because it was a EU directive? Er, don't think he did.
I think the writing had been on the wall for quite a few months before people really started to think about the referendum - the market was already slowing. Brexit just shifted the inevitable to the left.Gold is up, the mid-term outlook bleak.
My two cents: many nice but fundamentally ordinary boats raised during the heady free cash days of 2013-2015 like the 246 Dino, run for the exit now. Brand new sports/luxury cars destined for PCP, severe sales headwinds from the horror realisation Carney wasn't scaremongering, we've voted ourselves a recession. But cars like a 911R probably hold or move slightly positive because they are blue-chip investment grade.....and a safe haven for those with cash. Didn't Johnson tell us the 75K bank guarantee on cash deposits was only because it was a EU directive? Er, don't think he did.
I was thinking about buying a car on finance (for the first time in my life). Now am likely shelving that plan as a little worried about earnings in the near future - and I am not even in the UK... am watching LHD cars in the UK and sterling closely though and might pick sth up if the price seems attractive on a personal "smiles-per-mile" analysis - once that ratio fits, I do not care if the thing deprciates to zero - not going to sell anyway.
The value (in Euros) / future value & rental potential of my London flat on the other hand is not making me happy atm
The value (in Euros) / future value & rental potential of my London flat on the other hand is not making me happy atm
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