Will Coronavirus hit used car prices?
Discussion
Vroomer said:
gizlaroc said:
Vroomer said:
Interesting statistic:
At around 10.00am today their were 531k cars listed on Autotrader.
At around 2.30pm today there were 532k cars listed on Autotrader.
So that's an increase of 1,000 cars in just over 4 hours at a time when people aren't meant't to be making inessential journeys.
What do you make of that?
I would guess that with dealerships closed and online sales only allowed we should see the numbers on autotrader grow like mad. At around 10.00am today their were 531k cars listed on Autotrader.
At around 2.30pm today there were 532k cars listed on Autotrader.
So that's an increase of 1,000 cars in just over 4 hours at a time when people aren't meant't to be making inessential journeys.
What do you make of that?
Many main dealers don't put all their stock on autotrader.
BMW often have dozens of a certain model on their AUC site that are not listed on Autotrader.
I bet now they are throwing money at the online side far more.
Going out to look at cars (or collect if bought online) is not one of the Government's reasons for leaving home.
Macron said:
Vroomer said:
Yup, private 32K. So why do dealers think it is worth putting up cars that nobody is allowed to travel to see and most showrooms are shut down anyway?
Dealers can deliver. Video walk around, ask loads of questions, maybe even px what's on your drive. A neighbour has chopped in his S7 for a Tesla in the last week, Tesla arrived on a transporter, S7 put on it.
Don't be so narrow minded. Life does, and will, go on.
Very few people are going to be confident enough to buy a car on the basis of a video in these uncertain times.
traffman said:
Pretty much every dealer ive seen for a specific car i am looking at have offered to deliver the vehicle . After witnessing a Bonhams auction today online , there plenty of high end stuff for sale. Be interesting to see the results.
Did the Bonhams online auction happen? I thought the website announced that the cars were still for sale but for direct deals with buyers.Wording was rather ambiguous:
Goodwood Members' Meeting Sale
Event Cancelled: All Lots Listed Still Available for Sale until 17:00 GMT Sunday 29th March All lots available by private treaty.
Edited by Vroomer on Monday 30th March 10:45
stevemcs said:
Has anyone seen any bargains? Everything on my Autotrader watch list is still the same price.
Cars like this were £39k last monthhttps://used.landrover.co.uk/search#/details/30202...
greggy50 said:
Sa Calobra said:
It's a car to drive not a gin palace
I appreciate that but it would be difficult to sell in the future without bluetooth, nav or leather when a lot of them leave the factory with quite a few cost options. ChevronB19 said:
traffman said:
Pretty much every dealer ive seen for a specific car i am looking at have offered to deliver the vehicle . After witnessing a Bonhams auction today online , there plenty of high end stuff for sale. Be interesting to see the results.
Bonhams results available here:https://www.bonhams.com/auctions/26110/#/aa0=1&...
Missed out by 4K on the hydroplane I was thinking of as ‘wall art’.
Only 12 items sold!
Edited by ChevronB19 on Monday 30th March 17:53
swamp said:
Interesting article in Telegraph today (paywall)
https://www.telegraph.co.uk/business/0/carmakers-c...
Suggests car manufacturers and dealers are in serious trouble. They'll struggle to sell the cars they have, and many of their cars on lease will come back as customers end PCP or voluntary terminate, or just default.
VW are particularly exposed, they say.
“The week before last we sold more cars than we sold in any week this year so far,” reveals Stuart Foulds, chairman and chief executive of TrustFord. “But there’s no demand this week at all. On Saturday we sold 150 cars, Sunday it dropped to 50, and Monday was next to nothing. And then we were closed, effectively, from Tuesday.”https://www.telegraph.co.uk/business/0/carmakers-c...
Suggests car manufacturers and dealers are in serious trouble. They'll struggle to sell the cars they have, and many of their cars on lease will come back as customers end PCP or voluntary terminate, or just default.
VW are particularly exposed, they say.
Joey Deacon said:
Surely the issue at the moment is that hardly any buying or selling is actually taking place so prices remain static. It is impossible to gauge what is happening to prices as few if any sales are taking place so there is no data.
At the moment, the market is essentially frozen, which is why the continually increasing number of cars for sale on Autotrader is so baffling (541k cars today).SpeckledJim said:
The pressure on people to try to liquidate an asset (or relieve themselves of a burden) is going up.
That figure is listings, not sales. It reflects people's willingness to sell, not their readiness to buy.
Yes, we know that, but given people are only allowed out for essential journeys and showrooms are closed, it doesn't make logical sense. Presumably it's clutching at straws.That figure is listings, not sales. It reflects people's willingness to sell, not their readiness to buy.
ChocolateFrog said:
Prices are definitely holding firm at the moment but then that's perfectly understandable.
Unless you absolutely need cash now, almost nothings selling.
I put my car up for sale a matter of days before this kicked off, only one for sale at the time, plenty of interested, literally the next and not a word since. Doesn't mean I'll be lowering the price anytime soon, I don't need the money and I've got the space, it's also not depreciating I suppose, which some people might have to contend with.
Prices are notional rather than holding firm as it's virtually impossible to buy/sell.Unless you absolutely need cash now, almost nothings selling.
I put my car up for sale a matter of days before this kicked off, only one for sale at the time, plenty of interested, literally the next and not a word since. Doesn't mean I'll be lowering the price anytime soon, I don't need the money and I've got the space, it's also not depreciating I suppose, which some people might have to contend with.
Vroomer said:
Sa Calobra said:
Governments can and do fail with no money to pay staff and any money paid make be worthless if inflation is rampant.
Give one example of a European government failing since WWII.crosseyedlion said:
Vroomer said:
Give one example of a European government failing since WWII.
Give one example of a pandemic causing a complete global shutdown for months since ww2? So said:
The government does seem to be big on making these "unprecedented announcements" and then not delivering on them.
Businesses, self-employed included, need money NOW in many cases.
Does anyone know why the government is delaying payment?
Because it's very, very complicated. And it's taxpayers' money they are giving away, it doesn't come from a mysterious pot.Businesses, self-employed included, need money NOW in many cases.
Does anyone know why the government is delaying payment?
CRA1G said:
V8fan said:
I was due to go to that auction (originally planned for Practical Classic show in NEC, then reverted to Leamington Spa) but it got turned into a 10 ish cars a day 12 hour bidding bizarre thing. No last minute sniping, any bid in the last 2 mins extends it another 2 mins.
The 'contact us' prices are for cars that failed to meet their reserve.
Suprised to see how many actually sold....The 'contact us' prices are for cars that failed to meet their reserve.
growlerowl said:
Bigwod said:
Looking at buying a Xk convertible , prices are holding up.
But can you name anything that *has* started dropping in value?I suspect if you had to turn a car into cash tomorrow, you'd find it worth at least 20% less than a month ago.
MDMA . said:
Aaa. said:
Funny how everyone is touting huge losses but all we've seen evidence is a Golf R that's lost 1k in a month in natural depreciation, another Golf R that is cheap but likely to be CAT C and a Mustang with the usual discounting to get it out the door.
I'm not denying there will be changes but some people think it's already happened when it's not.
Who's mentioned CAT C on the car? The lad has lost his job, owes a bit under 8k on a loan. No means of paying it off unless the car goes. Simple. I'm not denying there will be changes but some people think it's already happened when it's not.
I suspect that if you had to turn your car into cash tomorrow, you'd be lucky to get 70% of what you would have got last month.
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