1000s of used cars stored at Rockingham
Discussion
Article says they are returned lease or rental cars.
https://www.bbc.co.uk/news/uk-england-northamptons...
What would you do with them?
https://www.bbc.co.uk/news/uk-england-northamptons...
What would you do with them?
Edited by BeastieBoy73 on Friday 19th February 07:36
It’s just the motor industry managing used car supply to ensure we don’t see a massive price drop in used cars, which in turn would see the cost of new care rise as future values would likely be lower.
Although PCP will shift to leasing and, I’m turn, alternative ‘ownership’ models anyway.
Although PCP will shift to leasing and, I’m turn, alternative ‘ownership’ models anyway.
survivalist said:
It’s just the motor industry managing used car supply to ensure we don’t see a massive price drop in used cars, which in turn would see the cost of new care rise as future values would likely be lower.
Although PCP will shift to leasing and, I’m turn, alternative ‘ownership’ models anyway.
Unless you've missed it used car values have risen in the last year.Although PCP will shift to leasing and, I’m turn, alternative ‘ownership’ models anyway.
The grandstands, which the article says have been torn down, are still very much visible in the photos.
It's a large disused open space with easy access for transporters.
Being in the industry, there are numerous wide open spaces in the country that used vehicles are stored at (disused former air bases are a favourite).
The owners of these are happy to pitch their space at the car industry, which is now predicated on PCP/Lease purchase, so controlling the supply of cars into auctions to protect residual values is all part of their normal business activity.
In this case we also have a blip to cope with a global pandemic and the situation of people returning cars and not necessarily immediately replacing them, hence a short term storage requirement.
In short, not much to see here. They'll all get fed into the market and won't be there once things get back to normal (unless they undercut the competition - it's a cut throat business).
Being in the industry, there are numerous wide open spaces in the country that used vehicles are stored at (disused former air bases are a favourite).
The owners of these are happy to pitch their space at the car industry, which is now predicated on PCP/Lease purchase, so controlling the supply of cars into auctions to protect residual values is all part of their normal business activity.
In this case we also have a blip to cope with a global pandemic and the situation of people returning cars and not necessarily immediately replacing them, hence a short term storage requirement.
In short, not much to see here. They'll all get fed into the market and won't be there once things get back to normal (unless they undercut the competition - it's a cut throat business).
Ahonen said:
survivalist said:
It’s just the motor industry managing used car supply to ensure we don’t see a massive price drop in used cars, which in turn would see the cost of new care rise as future values would likely be lower.
Although PCP will shift to leasing and, I’m turn, alternative ‘ownership’ models anyway.
Unless you've missed it used car values have risen in the last year.Although PCP will shift to leasing and, I’m turn, alternative ‘ownership’ models anyway.
The grandstands, which the article says have been torn down, are still very much visible in the photos.
Thanks for the informed comments...
I had assumed that following the return of a cheaply leased car (and that it could often be cheaper to lease another new car rather than take out a loan for a used one) these would all struggle to find new homes and continue to plummet in value.
Interesting to learn that it’s managed and under control. Disappointed to find out I’m unlikely to find an incredibly cheap, nearly new car for the wife.
I had assumed that following the return of a cheaply leased car (and that it could often be cheaper to lease another new car rather than take out a loan for a used one) these would all struggle to find new homes and continue to plummet in value.
Interesting to learn that it’s managed and under control. Disappointed to find out I’m unlikely to find an incredibly cheap, nearly new car for the wife.
PurpleTurtle said:
It's a large disused open space with easy access for transporters.
Being in the industry, there are numerous wide open spaces in the country that used vehicles are stored at (disused former air bases are a favourite).
The owners of these are happy to pitch their space at the car industry, which is now predicated on PCP/Lease purchase, so controlling the supply of cars into auctions to protect residual values is all part of their normal business activity.
In this case we also have a blip to cope with a global pandemic and the situation of people returning cars and not necessarily immediately replacing them, hence a short term storage requirement.
In short, not much to see here. They'll all get fed into the market and won't be there once things get back to normal (unless they undercut the competition - it's a cut throat business).
How long will they typically be stored like that?Being in the industry, there are numerous wide open spaces in the country that used vehicles are stored at (disused former air bases are a favourite).
The owners of these are happy to pitch their space at the car industry, which is now predicated on PCP/Lease purchase, so controlling the supply of cars into auctions to protect residual values is all part of their normal business activity.
In this case we also have a blip to cope with a global pandemic and the situation of people returning cars and not necessarily immediately replacing them, hence a short term storage requirement.
In short, not much to see here. They'll all get fed into the market and won't be there once things get back to normal (unless they undercut the competition - it's a cut throat business).
Ahonen said:
Unless you've missed it used car values have risen in the last year.
Yes and if you manage supply ?, the biggest auction group also owns the well known car buying company and the big player in the online car seller business , I Can see an investigation being called for soon !!!
Edited by powerstroke on Friday 19th February 08:16
PurpleTurtle said:
Being in the industry, there are numerous wide open spaces in the country that used vehicles are stored at (disused former air bases are a favourite).
The owners of these are happy to pitch their space at the car industry, which is now predicated on PCP/Lease purchase, so controlling the supply of cars into auctions to protect residual values is all part of their normal business activity.
I'm no economist, but the car industry in it's current state is interesting to me. Isn't storing (hiding) these cars just a case of kicking the can further down the road though? Depreciating assets sitting there losing money every day? Just trying to get my head round what the 'hit' will be, and who and when will they have to take it?The owners of these are happy to pitch their space at the car industry, which is now predicated on PCP/Lease purchase, so controlling the supply of cars into auctions to protect residual values is all part of their normal business activity.
BeastieBoy73 said:
Article says they are returned lease or rental cars.
https://www.bbc.co.uk/news/uk-england-northamptons...
Article talks pishhttps://www.bbc.co.uk/news/uk-england-northamptons...
Gary29 said:
PurpleTurtle said:
Being in the industry, there are numerous wide open spaces in the country that used vehicles are stored at (disused former air bases are a favourite).
The owners of these are happy to pitch their space at the car industry, which is now predicated on PCP/Lease purchase, so controlling the supply of cars into auctions to protect residual values is all part of their normal business activity.
I'm no economist, but the car industry in it's current state is interesting to me. Isn't storing (hiding) these cars just a case of kicking the can further down the road though? Depreciating assets sitting there losing money every day? Just trying to get my head round what the 'hit' will be, and who and when will they have to take it?The owners of these are happy to pitch their space at the car industry, which is now predicated on PCP/Lease purchase, so controlling the supply of cars into auctions to protect residual values is all part of their normal business activity.
t hits the fan the assets aren’t worth quite so much!!!Funny old world eh ....
JagLover said:
PurpleTurtle said:
It's a large disused open space with easy access for transporters.
Being in the industry, there are numerous wide open spaces in the country that used vehicles are stored at (disused former air bases are a favourite).
The owners of these are happy to pitch their space at the car industry, which is now predicated on PCP/Lease purchase, so controlling the supply of cars into auctions to protect residual values is all part of their normal business activity.
In this case we also have a blip to cope with a global pandemic and the situation of people returning cars and not necessarily immediately replacing them, hence a short term storage requirement.
In short, not much to see here. They'll all get fed into the market and won't be there once things get back to normal (unless they undercut the competition - it's a cut throat business).
How long will they typically be stored like that?Being in the industry, there are numerous wide open spaces in the country that used vehicles are stored at (disused former air bases are a favourite).
The owners of these are happy to pitch their space at the car industry, which is now predicated on PCP/Lease purchase, so controlling the supply of cars into auctions to protect residual values is all part of their normal business activity.
In this case we also have a blip to cope with a global pandemic and the situation of people returning cars and not necessarily immediately replacing them, hence a short term storage requirement.
In short, not much to see here. They'll all get fed into the market and won't be there once things get back to normal (unless they undercut the competition - it's a cut throat business).
CraigyMc said:
BeastieBoy73 said:
Article says they are returned lease or rental cars.
https://www.bbc.co.uk/news/uk-england-northamptons...
Article talks pishhttps://www.bbc.co.uk/news/uk-england-northamptons...
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