How long till the £20k Evora?
Discussion
RobM77 said:
hyphen said:
jamoor said:
I’m pretty sure this whole corona recession will bring the evora down to the target price.
People may begin to sell toys once the finances become tight.
'If' the finances become tight, not once. With goverment pumping cash, and interests rates so low, people may carry on as usual.People may begin to sell toys once the finances become tight.
And not everyone uses them as toys, aren't many daily drivers?
For sure, it's a last resort if you're screwed, but very few people are even holding ground with their savings, so I can only see someone selling an Evora if they have zero savings and need the money; which given the typical purchase price for that car three years ago, is an unlikely situation for that person to be in.
t storm we haven't even yet properly entered, but think anything from Lotus is probably going to fair better than most. I think it's more likely the case that, rather than seeing the Evora in isolation, price drops will be driven by the wider automotive resale ecosystem.
Lots of people are going to be selling and buying cars after this. Prices will generally trend downwards because there is oversupply of new cars, and there will be a lot of motivated sellers potentially downsizing from cars of all types into something cheaper or more economic. If overall, second hand car prices go down by say 15%, Evoras, as a niche market item with low supply, will likely not be affected as much, but because they will look worse as a comparative value proposition against other more common cars, their price WILL come down, just less. So maybe 5-10% drop, which would make the current 25K cars more like 23K.
For example, say someone pre-Corona was looking at a 25K Evora or a 25k nearly new GT86. Post-corona the same GT86 is available at 22K; to remain viable, the Evora would have to be selling at say 23-24K.
Lots of people are going to be selling and buying cars after this. Prices will generally trend downwards because there is oversupply of new cars, and there will be a lot of motivated sellers potentially downsizing from cars of all types into something cheaper or more economic. If overall, second hand car prices go down by say 15%, Evoras, as a niche market item with low supply, will likely not be affected as much, but because they will look worse as a comparative value proposition against other more common cars, their price WILL come down, just less. So maybe 5-10% drop, which would make the current 25K cars more like 23K.
For example, say someone pre-Corona was looking at a 25K Evora or a 25k nearly new GT86. Post-corona the same GT86 is available at 22K; to remain viable, the Evora would have to be selling at say 23-24K.
I'd actually sold mine but the buyer (understandably) pulled out when the lockdown was looming. I can just keep mine as it's not financed so I'm in no rush to sell....however I have had a few cheeky low-£20k offers just before the advert expired.
Ultimately until the lockdown is lifted (probably nearer July at this rate) it's all guess work.
Ultimately until the lockdown is lifted (probably nearer July at this rate) it's all guess work.
hyphen said:
'If' the finances become tight, not once. With goverment pumping cash, and interests rates so low, people may carry on as usual.
And not everyone uses them as toys, aren't many daily drivers?
They are pumping cash in the extremely short term. What will happen after that finishes is anyones idea.And not everyone uses them as toys, aren't many daily drivers?
Look at what Lufthansa has done, I'm sure stuff like that will happen accross businesses once they reopen.
elise2000 said:
jamoor said:
They are pumping cash in the extremely short term. What will happen after that finishes is anyones idea.
Look at what Lufthansa has done, I'm sure stuff like that will happen accross businesses once they reopen.
Off topic, but what have Lufthansa done?Look at what Lufthansa has done, I'm sure stuff like that will happen accross businesses once they reopen.
The people talking of a 'burst bubble' or the like are just living in hope and ultimately no large discounts will happen, over your standard depreciation.
More than happy to have someone quote my post in the future if I'm proved wrong. If I am I'll eat a packet of custard, including the packet.
More than happy to have someone quote my post in the future if I'm proved wrong. If I am I'll eat a packet of custard, including the packet.
p4cks said:
The people talking of a 'burst bubble' or the like are just living in hope and ultimately no large discounts will happen, over your standard depreciation.
More than happy to have someone quote my post in the future if I'm proved wrong. If I am I'll eat a packet of custard, including the packet.
I think the bubble will burst catastrophically in a huge array of asset classes, including unneeded sports cars. I also think there’s a good chance you’ll be looked upon as a More than happy to have someone quote my post in the future if I'm proved wrong. If I am I'll eat a packet of custard, including the packet.
for driving one about in the st storm that’s coming. That said, in the context of this thread, as I said before, I don’t see Evoras slipping by much at all. Nor do I see many of the Lotus range slipping much; they represent value at present prices and running costs are v cheap for their performance and prestige.
Lotus themselves, however, I can see struggling to sell new cars. The prices of the latter exiges and evoras touching best part of £100k never sat well with me and I can’t see the market for new cars at that price point being very populated. In addition to that, downwards pressure on the mclaren, Porsche, huracans that fall into that <£100k bracket at not too old/low mileage will further detract from new sales. It’s not as though a good finance deal from lotus will entice folk to add an additional loan repayment for what is a toy car that you face abuse for taking out when 20-30% of the population are struggling, resentful and have raw memories of a far better life not all that long ago.
jamoor said:
Thanks. Shame. Has some useful routes at low prices. Can’t blame them though. dont think the bubble will burst, just people will have to keep their cars longer. or sell at a massively incentive price. the evora is already quite a hard sell , niche market.. so to speak.. they buyers will just dry up. as nice toys will take a backseat for a while.. one thing this pandemic is making people aware of is that the never never used by most to buy cars isnt great to have hanging round your neck with uncertainty..
but then i think in general there will be allot less car changing going on...
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but then i think in general there will be allot less car changing going on...
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Ryvita said:
No new Evoras sub-30k advertised in the last 6 weeks.
Last car sold 4 weeks ago
Some vehicles now on sale have been on for over 100 days.
Not sure exact timing but there was one advertised for 26k within the last couple of months Last car sold 4 weeks ago
Some vehicles now on sale have been on for over 100 days.
Unless people are desperate to sell they won’t drop to 20k even then they will try them at 24-26k for months first
blueg33 said:
They are often slow to sell, and the many of the 100 days have been in Lockdown, so I wouldn't expect much to happen.
I think they've always been a slow sell, unless there's an absolute bargain to be had. I know when I purchased my two, they had both been on sale for some time, and even then the dealer wouldn't negotiate much.
Also, when I sold my last one to a dealer, I saw it advertised for around 4-5 months at least before it sold. To be fair, I think they were overpricing it considerably which may have been why.
elise2000 said:
blueg33 said:
They are often slow to sell, and the many of the 100 days have been in Lockdown, so I wouldn't expect much to happen.
I think they've always been a slow sell, unless there's an absolute bargain to be had. I know when I purchased my two, they had both been on sale for some time, and even then the dealer wouldn't negotiate much.
Also, when I sold my last one to a dealer, I saw it advertised for around 4-5 months at least before it sold. To be fair, I think they were overpricing it considerably which may have been why.
No one would have bothered to list in the past 4 weeks though, so no surprise there. And IPS's have always been mega-difficult to sell; it's a niche spec in a niche car...
I'll relist mine once the restrictions are listed - although I will be contacting the previous purchaser to ask if he's interested in going through with the purchase. I suspect he'll be expecting £2-3k off the previously agreed price, however!
I'll relist mine once the restrictions are listed - although I will be contacting the previous purchaser to ask if he's interested in going through with the purchase. I suspect he'll be expecting £2-3k off the previously agreed price, however!
Spotted the first new listing today. Looks to be the car that Giles Cooper Automotive sold last month, now on as a private sale in Devon. Someone changed their mind?
https://www.pistonheads.com/classifieds/used-cars/...
https://www.pistonheads.com/classifieds/used-cars/...
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