Secondhand car price crash? (Vol. 2)

[AlexNJ89]

Deep Thought said:

I've been saying that for several years now on this thread and it's predeccessors.

What's being forced upon the new car market is not, down the line what the used car market wants. When diesel went out of favour in New cars, used diesel prices went up. More recently, Ford stopped making the Fiesta, used prices of them have went up.

The used car market has not warmed so much to hybrids and definitely not to EVs, hence the poor resale prices on EVs.

I'm getting this vibe too.

This will soon apply to the other end of the market too. A Ferrari F12 isn't going to go down in value once the Ferrari 12 Cylindri goes out of production.

[ThingsBehindTheSun]

macron said:

thought everyone used sodding QE codes now but punters passing by can t see that apparently, so plastic plates clipped over the sun visor it is).

I walked past my local BMW dealer recently and there are no prices in the windows, just a QR code. What on earth is this about, how is it solving a problem that I didn't know existed?

[paddy1970]

Bought a £20K car last week...Ford Puma ST...went to 2 dealers...initially was told no discount but managed to get nearly 10% off by playing them against each other. Both places were empty when I visited. One car had sat with the same dealer since September. The other one (the one I bought) was part ex in early Feb.

[AlexNJ89]

ThingsBehindTheSun said:

I walked past my local BMW dealer recently and there are no prices in the windows, just a QR code. What on earth is this about, how is it solving a problem that I didn't know existed?

Supposedly allows them to change the prices a lot quicker.

[Fusion777]

ThingsBehindTheSun said:

I walked past my local BMW dealer recently and there are no prices in the windows, just a QR code. What on earth is this about, how is it solving a problem that I didn't know existed?

Dynamic pricing, innit.

[av185]

Deep Thought said:

thepeoplespal said:

What do you think of this https://www.msn.com/en-gb/cars/news/motorists-warn... article which might put a hold on the slide in 2nd hand car prices, if you cant get new petrol cars.

Perhaps a bit of propaganda to get people to commit to buying sooner rather than later given the person quoted is a dealer, but those manufacturers with more than 22% electric can release the taps on their petrol car supply and\or maintain their margins.

I've been saying that for several years now on this thread and it's predeccessors.

What's being forced upon the new car market is not, down the line what the used car market wants. When diesel went out of favour in New cars, used diesel prices went up. More recently, Ford stopped making the Fiesta, used prices of them have went up.

The used car market has not warmed so much to hybrids and definitely not to EVs, hence the poor resale prices on EVs.

True DT as posted many times before and the conflation of demand for new and used cars is also perfectly illustrated by the thread about niche/manual ice cars becoming worthless ££ simply because manufacturers are ceasing production when in fact the exact opposite is is true prices will remain robust due to a reduction in the supply used.

[e-honda]

AlexNJ89 said:

ThingsBehindTheSun said:

I walked past my local BMW dealer recently and there are no prices in the windows, just a QR code. What on earth is this about, how is it solving a problem that I didn't know existed?

Supposedly allows them to change the prices a lot quicker.

It's analytics
You have no idea how many people walked passed and saw the £25000 sticker, you know exactly how many people scanned the QR code, in many cases you can determine who scanned it, and when you can't you often know more, eg what other cars they've scanned in the past, if they went and looked it up again later etc.

[ChocolateFrog]

blue_haddock said:

More people would be willing to pay over £700 a year to tax an x5 than there will be to tax a chrysler pt cruiser.

Sub 2k car with £710 a year is seriously painful.

https://www.autotrader.co.uk/car-details/202401115...

That has to be about as unsellable as a running and driving car with MOT can get.

[ChocolateFrog]

So what's the reason for the slide in the bottom of the market?

Not much has changed from what I can see. I doubt people coming off fixed rates is having a huge impact on £1-5k cars.

Maybe everyone who wanted or needed to get off the lease/pcp gravy train has already done so.

[ChocolateFrog]

Or is it normal seasonal variation.

[nickfrog]

Fusion777 said:

Dynamic pricing, innit.

Indeed. It makes a lot of sense. Maximising yield is important for a business.

[Mojooo]

AlexNJ89 said:

ThingsBehindTheSun said:

I walked past my local BMW dealer recently and there are no prices in the windows, just a QR code. What on earth is this about, how is it solving a problem that I didn't know existed?

Supposedly allows them to change the prices a lot quicker.

Illegal as well without a mechanism where people can see prices without a phone.. a screen nearby will normally do.

[Seattaken]

av185 said:

True DT as posted many times before and the conflation of demand for new and used cars is also perfectly illustrated by the thread about niche/manual ice cars becoming worthless ££ simply because manufacturers are ceasing production when in fact the exact opposite is is true prices will remain robust due to a reduction in the supply used.

In the next 5 to 10 years ICE cars will increasingly become worthless, due to the combined effect of punitive local taxing (ULEZ and banded resident parking), closures of fossil fuel service stations and manufacturers throttling supply of new ICE, parts and support.

Short term there will of course be pricing blips but the overall trend will be as above.

[Fusion777]

Seattaken said:

In the next 5 to 10 years ICE cars will increasingly become worthless, due to the combined effect of punitive local taxing (ULEZ and banded resident parking), closures of fossil fuel service stations and manufacturers throttling supply of new ICE, parts and support.

Short term there will of course be pricing blips but the overall trend will be as above.

I’d be very surprised if many filling stations close in the next 10 years.

[ACCYSTAN]

Agree, much more likely more petrol stations will have electric charging capacity, even closing down some of the petrol pumps to make way for more electric chargers.

Electric chargers are a pain compared to filling with petrol, a normal 5 minute process including entering the garage to sell further items will be replaced with a 45 minute person sitting in car.
Less footfall, less footprint capacity, less opportunities for selling garage items, etc.
as a garage owner, your sort of hoping everyone charging will need a toilet break and has to walk through the shop to get to the toilet.
You’re also hoping charging times can be reduced to 10 mins so you get more footfall.

[sturge7878]

Fusion777 said:

Seattaken said:

In the next 5 to 10 years ICE cars will increasingly become worthless, due to the combined effect of punitive local taxing (ULEZ and banded resident parking), closures of fossil fuel service stations and manufacturers throttling supply of new ICE, parts and support.

Short term there will of course be pricing blips but the overall trend will be as above.

I’d be very surprised if many filling stations close in the next 10 years.

Exactly. ICE values to become rock solid maybe even appreciate, nobody wants EVs outside of the fleets availing the massive tax subsidies. Buy privately and your EV will depreciate rapidly indeed, especially as technology evolves. ICE vastly better investments.

https://www.telegraph.co.uk/business/2024/05/16/mo...

[Fast Bug]

Seattaken said:

In the next 5 to 10 years ICE cars will increasingly become worthless, due to the combined effect of punitive local taxing (ULEZ and banded resident parking), closures of fossil fuel service stations and manufacturers throttling supply of new ICE, parts and support.

Short term there will of course be pricing blips but the overall trend will be as above.

Other than the many people that don't want electric, can afford electric cars or have the ability to charge at home. We've another 5-10 years of new ICE car availability. I don't see any drop off for a while after the new sales have ended

[AlexNJ89]

Seattaken said:

In the next 5 to 10 years ICE cars will increasingly become worthless, due to the combined effect of punitive local taxing (ULEZ and banded resident parking), closures of fossil fuel service stations and manufacturers throttling supply of new ICE, parts and support.

Short term there will of course be pricing blips but the overall trend will be as above.

I am certain this is not going to happen or even come close to happening.

The people who will still be running ICE cars will be car fanatics and poor people.

Taxing poor people by that much will never happen due to the backlash and would be a politically disastrous move.

To put it in to perspective and show that 10 years is not a long time, here are what 10 year old cars look like:









So looking at those cars, you're saying that if your 10 year timeline were true, it is the equivalent of wiping those cars out of the market from today.

[r3g]

e-honda said:

AlexNJ89 said:

ThingsBehindTheSun said:

I walked past my local BMW dealer recently and there are no prices in the windows, just a QR code. What on earth is this about, how is it solving a problem that I didn't know existed?

Supposedly allows them to change the prices a lot quicker.

It's analytics
You have no idea how many people walked passed and saw the £25000 sticker, you know exactly how many people scanned the QR code, in many cases you can determine who scanned it, and when you can't you often know more, eg what other cars they've scanned in the past, if they went and looked it up again later etc.

But in reality how many people will actually do this? Pretty much nobody except Far-Eastern kids care for these stupid gimmick QR codes and despite them being around for well over a decade I've never seen a single person scan one when out and about. I think what will happen is BMW will quietly drop this retarded nonsense when they haven't sold a single car or had an enquiry since they implemented it, and revert to putting price boards in the window like every proper car dealer.

[ACCYSTAN]

I was at a evans Halshaw branch and they still use price boards.

I asked about QR codes and the sale guy told me it’s a gimmick, no one walking past is going to scan a QR code, they want to see a price.

QR codes are saved for exotic cars where price is a secondary consideration, not a 4 year old Vauxhall crossland