Will Coronavirus hit used car prices?

[Deep Thought]

Throttlebody said:

There will be an initial pent up demand flurry of activity, dealers, salesmen and vested interest parties will drop in into their normal ‘bull mode’ to try and talk up the market but then what everybody really knows, but many dont like to openly acknowledge, the car market overall will be severely depressed.

Thats a change of stance for you?

Your view was that prices would crash instantly as dealers pleaded with customers to take cars off their hands at any price as they watched their businesses burn?

Or at very least that prices would have to drop to get people to buy?

Seems a big change of view for you?

In fact only yesterday you said

Throttlebody said:

Time for buyers to put their cards on the table. Time to see which dealers are holding a busted flush.

Edited by Deep Thought on Tuesday 26th May 11:19

[nickfrog]

Throttlebody said:

There will be an initial pent up demand flurry of activity, dealers, salesmen and vested interest parties will drop in into their normal ‘bull mode’ to try and talk up the market but then what everybody really knows, but many dont like to openly acknowledge, the car market overall will be severely depressed.

What vested interest? You are judging others by your own standards as your bizarre sweeping anti salesman rethoric removes any chance of you having any objectivity yet you project that on others.
I have no idea what the future holds for the car market so I wouldn't dare making unsubstantiated predictions.

Why do you care so much anyway?

Edited by nickfrog on Tuesday 26th May 11:38

[Auto810graphy]

Watching Online today lots are selling but there is a pattern similar to what I posted last week.

Petrol / Auto 5 Door Premium (A Class, etc) Over CAP

Late high mileage is over but I think this is more the CAP mileage adjustment being harsh.

Most sub £10k >2.0 Autos CAP or just under

Sub £5k sensible stuff at CAP (£575 tax BMW X3’s etc unsold)

Premium saloons and 4x4 10% off CAP

This looked cheap when I saw it but looking at the market they are heading sub £15k retail. March 17, Jag XE R Sport 2.0d Manual with 43k, CAP £13,100, sold £11,800

[Shadow R1]

Thanks to the people posting data from sales, auctions etc.
Useful stuff.

[Vroomer]

Auto810graphy said:

Sub £5k sensible stuff at CAP (£575 tax BMW X3’s etc unsold)

Please explain what you mean by a sub-£5k BMW X3 with £575 tax.

Thanks.

[jrinns]

Sold my Navara Pickup after one day on Ebay and various enquiries so people are buying / demand strong.

At 18k plus VAT for a 68 plate it was a reasonable price.

No only if I can get a 2012-13 991 CAB at auction in the next month or two..... I'm hoping that there will be an oversupply of cars going to auction once it goes back to trading hall rather than online?

Although not sure if Trading hall will come back anytime soon and I cant buy via BCA online as not a dealer :-(

[Auto810graphy]

Vroomer said:

Auto810graphy said:

Sub £5k sensible stuff at CAP (£575 tax BMW X3’s etc unsold)

Please explain what you mean by a sub-£5k BMW X3 with £575 tax.

Thanks.

Older high emission cars from March 2006 can fall into the £565 tax bracket such as the petrol X3’s. It must be off putting spending more than 10% of a used car purchase price on RFL.

[The spinner of plates]

Vroomer said:

Auto810graphy said:

Sub £5k sensible stuff at CAP (£575 tax BMW X3’s etc unsold)

Please explain what you mean by a sub-£5k BMW X3 with £575 tax.

Thanks.

I think he means BMW X3’s at sub-£5k with £575 tax.

Ah, all I’ve done is typed the same words.

What further explanation could you possibly need? Genuine question.

[Throttlebody]

Deep Thought said:

Throttlebody said:

There will be an initial pent up demand flurry of activity, dealers, salesmen and vested interest parties will drop in into their normal ‘bull mode’ to try and talk up the market but then what everybody really knows, but many dont like to openly acknowledge, the car market overall will be severely depressed.

Thats a change of stance for you?

Your view was that prices would crash instantly as dealers pleaded with customers to take cars off their hands at any price as they watched their businesses burn?

Or at very least that prices would have to drop to get people to buy?l

Seems a big change of view for you?

In fact only yesterday you said

Throttlebody said:

Time for buyers to put their cards on the table. Time to see which dealers are holding a busted flush.

Edited by Deep Thought on Tuesday 26th May 11:19

Nope, and as per usual that’s just what you’d like to think I said. Another dose of your pseudologia fantastica.

[Deep Thought]

Throttlebody said:

Nope, and as per usual that’s just what you’d like to think I said. Another dose of your pseudologia fantastica.

Really? Your message has always been clear - the motor trade is going to suffer badly and will have to reduce prices for cashflow rather than hang on to [in your view] overpriced stock.

And you've as recent as last night told us that buyers are in control - "Time for buyers to put their cards on the table. Time to see which dealers are holding a busted flush."

Throttlebody said:

Interesting, many of the comfortable norms and price references are changing. Cash flow is going to be more important than hanging onto overpriced stock.

Throttlebody said:

colin86 said:

A recon prices will come down and there will be some good deals out there to be had especially will furlough stops and people lose there jobs . By how much who knows about

Correct. The forecast extra million unemployed and the millions of employees with job uncertainty, reduced income and prevailing uncertainty over CV19 resurgence aren’t going to be spending. More losers than winners. Depressed market. Forecast 2020 Q2 GDP down 13%, forecast unemployment up to 7% from 4% and the big one for the car market, a 50% forecast reduction in overall consumer spending for 2020. Reality check for many is still to come.

Throttlebody said:

Events are leading to a paradigm shift in people’s perception of normality. People’s attitude and constant appetite for finance, including PCPs will also change. It’s being enforced by CV19, no choice. The car industry isn’t immune and will be trying to survive in a depressed market. That means better deals, cheaper cars chasing fewer buyers with lower overall output and potential multiple business failures. Market observation and understanding, not ‘punishment’ DT.

But if you've changed your mind thats fine.

Edited by Deep Thought on Tuesday 26th May 13:42

[Anonymous-poster]

I don’t think the true picture will be available until the dealerships/traders are open for a while.

[Throttlebody]

Deep Thought said:

Your view was that prices would crash instantly as dealers pleaded with customers to take cars off their hands at any price as they watched their businesses burn?

Maybe you’d feel even better just posting these imaginations under my username again.

[Deep Thought]

Anonymous-poster said:

I don’t think the true picture will be available until the dealerships/traders are open for a while.

Yeah i think thats the reality of it. I think it'll be in to early next year before we get a true picture.

[Deep Thought]

Throttlebody said:

Deep Thought said:

Your view was that prices would crash instantly as dealers pleaded with customers to take cars off their hands at any price as they watched their businesses burn?

Maybe you’d feel even better just posting these imaginations under my username again.

You've wholly given the impression that you want & expect the new and used car markets to crash (and have posted that view which i quoted three examples of) and as i said even as recent as last night you were effectively saying buyers hold all the cards when dealers reopen on 1st June.

Just surprised your view has flipped given your previous strong view, but hey ho.

Edited by Deep Thought on Tuesday 26th May 14:17

[Throttlebody]

Deep Thought said:

You've wholly given the impression that you want & expect the new and used car markets to crash (and have posted that view which i quoted three examples of) and as i said even as recent as last night you were effectively saying buyers hold all the cards when dealers reopen on 1st June.

Just surprised your view has flipped given your previous strong view, but hey ho.

Edited by Deep Thought on Tuesday 26th May 14:17

None of those quotes relate to your fertile and extreme interpretations. You're still at it even here. When it’s time for buyers to put their cards on the table isn’t the same as buyers hold all the cards. Pseudologia fantastica.

[jammy-git]

What are people's thoughts on the number of cars on the market currently?

I know that the rental property market has definitely shrunk. I've been looking at the £700-1000/pm market for the past 6-9 months and there are definitely a lot fewer properties available in the last 1-2 months here in my corner of Kent.

I suspect that the private buy used car market has shrunk, which probably explains why supply/demand and thus prices have largely remained the same so far - but wondered what those of you think who have been active in the market over the last 6-9 months?

[GT3Manthey]

Just to add a slightly different slant on things- I sold my M2 within 3 days for the asking price and this weekend ENORMOUSLY enjoyed taking my 996 GT3 on some amazing early morning blast.

The virus could have killed any of us . Life's for living

[Vroomer]

The spinner of plates said:

Vroomer said:

Auto810graphy said:

Sub £5k sensible stuff at CAP (£575 tax BMW X3’s etc unsold)

Please explain what you mean by a sub-£5k BMW X3 with £575 tax.

Thanks.

I think he means BMW X3’s at sub-£5k with £575 tax.

Ah, all I’ve done is typed the same words.

What further explanation could you possibly need? Genuine question.

I was puzzled because there was only a small number of petrol X3s ever sold 2006-2008 (and, to be picky, the tax is £555).

[TK-421]

Is there any UK used price data on used X5 30d M sport G05 in auction and cap? Interested to see what’s happening with these as I’ve seen zero movement in these for 6 months. Granted most are in main dealers so price is being held firm I guess? Anyone anything on this?

[aaron_2000]

Vroomer said:

The spinner of plates said:

Vroomer said:

Auto810graphy said:

Sub £5k sensible stuff at CAP (£575 tax BMW X3’s etc unsold)

Please explain what you mean by a sub-£5k BMW X3 with £575 tax.

Thanks.

I think he means BMW X3’s at sub-£5k with £575 tax.

Ah, all I’ve done is typed the same words.

What further explanation could you possibly need? Genuine question.

I was puzzled because there was only a small number of petrol X3s ever sold 2006-2008 (and, to be picky, the tax is £555).

The early 3.0sd's are £565 to tax