Pendragon Shares under 1 1/2p! How will this play out?
Discussion
The groups that have the money, or at least access to the money, will be sitting around ready to pounce, sadly that's the motor trade. They will then be able to see through the downturn, and will be fighting fit in 6/9/12/15/18/21/24.. etc months time. (Please make it sooner rather than later though.)
750turbo said:
The groups that have the money, or at least access to the money, will be sitting around ready to pounce, sadly that's the motor trade. They will then be able to see through the downturn, and will be fighting fit in 6/9/12/15/18/21/24.. etc months time. (Please make it sooner rather than later though.)
This is what a Banker thinks.http://news.bbc.co.uk/1/hi/business/7793035.stm
Roop said:
sniff diesel said:
Roop said:
Some bloody cheap new cars outside too. £16k for a brand new non-poverty spec Mondeo. Amazing value.
Is it?u13rr1 said:
Roop said:
sniff diesel said:
Roop said:
Some bloody cheap new cars outside too. £16k for a brand new non-poverty spec Mondeo. Amazing value.
Is it?
haroon_19 said:
Anyone heard anything new? Thinking of taking a risk and buying a few shares, what does everyone think?
I think the share price is being propped up by people 'taking a punt' but really unless the economic situation changes very quickly there's no way forward for the business without it going into administration and losing some of the debt.cccscotland said:
haworthlloyd1 said:
good question but i'm sure you already know the answer 
Ish. If the banks let them go, then there will be even more carnage. But, will the banks let this happen? Are there any suitors who may rescue bits of it? If it did happen, how quickly would the cars get sent off to auction?I'm tempted to buy a DB9, but I note that Stratstones have 30 of them. If these get sent to auction in the next 6 months I suspect I'd regret it if I'd bought one now!
The market is being propped up by the last of the big spenders who's cash and credit lines are not going to be replaced. Those with real money (ie money they have saved from working;)) are already sitting tight. All these beautiful, asperational cars have much further to go because the demand for them over the last 8 years has been artificially high due to cheap finance and a very bouyant employment market. Both of which have changed, but the impact hasn't even begun to filter through fully.
Firms like Stratstones are the classic weak points. Originally, a very well run Mayfair outlet, servicing a small group of cash buyers they have expanded the brand across the UK using cheap finance and bloated sales from people who's only wealth was from equity release and credit cards. Massive contraction is needed in order to survive, but they should have done this by now, so you kind of have to think that their main route to downsizing is likely to be via the administrators
haroon_19 said:
Anyone heard anything new? Thinking of taking a risk and buying a few shares, what does everyone think?
Try and sell some first
Phone you broker and ask them to get a quote for selling a modest block. I doubt he will even bother calling the market before informing you that there are no buyers.
From my understanding they are being proped up by the banks who pendragon are into big time, If the banks call time they will get sod all back as the stock value both new and used is well down, the parts business is now not so rosey as Ford are distributing direct and another part of the business is in computers to dealerships and no one is buying them. I wouldn't touch them at all.
Talking to an ex-employee he said a lot of the Pendragon employees in the company share scheme are livid as they are contracted to buy X amount of shares and are having to pay around 70p per share, rather than the ultra-low rate that they are now.
But then again he is a car sales man and could be pulling my p-lonker.
That is all.
But then again he is a car sales man and could be pulling my p-lonker.
That is all.
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