Will Coronavirus hit used car prices?
Discussion
maz8062 said:
Deep Thought said:
growlerowl said:
Whereas your posts tend to remind me of the scene in Carry On Up The Khyber where they're eating dinner with no apparent concern whatever for the fact the building is being literally blown to pieces around them.
All four walls still standing here.I'll let you know if that changes
I dont think people will be as badly impacted as some on here think, nor do i want it to be.
I also have a higher estimation of others than some on here, in that for those who will be impacted, the bulk of them will proactively look for another job outside their field or at a lower grade if needs be (i've done so in the past and may have to again) rather than sit on their hands and blame others for their situation.
Edited by Deep Thought on Wednesday 3rd June 15:36
From my non scientific regular analysis of cars for sale at the price point I'm looking at (around the ten to twelve grand mark), there seems to have been quite a lot of activity since dealers reopened (i.e adverts disappeared due to sales/deposit taken/reservation). It may be early days but I think the doom mongers have got it pretty wrong. The 'pent up demand' many baulked at seems to be coming true!
ChasW said:
Albeit a small sample but in the last week I have spoken to two mates who run businesses. One has 65 people mostly in HQ and the other 170 people working from HQ and two satellite offices. They both confirmed they will be offloading office space at the earliest opportunity. In neither case is is cost-cutting driven. The past three months has proved that they don't need them. The portents for commercial property must be a worry. Whether this translates into fewer road journeys and ultimately in reduction in demand for cars who knows?
I think this is going toe quite common; my company are supposedly reviewing their office strategy again and one of our clients spends £17m a year on rent....they’ve continued to operate during all of this and senior people are starting to wonder why they spend so much on office space.
BMW A6 said:
My 5 year old son returned to school today after 2+ month hiatus.
Apparently 12 kids in a year of 90 pupils turned up.
No idea what impact that may or may not have on used car prices.
My daughter's fee-paying school decided not to open this week instead they announced that they'll be closing the school at the end of this term. Period. 100 years the school has been around yet they chose to give parents half a term's notice of closure and impending redundancies.Apparently 12 kids in a year of 90 pupils turned up.
No idea what impact that may or may not have on used car prices.
No idea what impact that will have on used car prices, or not. But this is the reality of what is actually happening out there.
Toyoda said:
From my non scientific regular analysis of cars for sale at the price point I'm looking at (around the ten to twelve grand mark), there seems to have been quite a lot of activity since dealers reopened (i.e adverts disappeared due to sales/deposit taken/reservation). It may be early days but I think the doom mongers have got it pretty wrong. The 'pent up demand' many baulked at seems to be coming true!
The predictable post lockdown pent up demand won’t be sustained. Throttlebody said:
The predictable post lockdown pent up demand won’t be sustained.
Of course it won't. It's pent up demand, by its very definition, it will be short lived.The far more relevant question is at what level will we be when that pent up demand is satisfied and the new normal demand settles.
I have a suspicion no one knows for sure.
nickfrog said:
Of course it won't. It's pent up demand, by its very definition, it will be short lived.The far more relevant question is at what level will we be when that pent up demand is satisfied and the new normal demand settles.
I have a suspicion no one knows for sure.
moonigan said:
nickfrog said:
Of course it won't. It's pent up demand, by its very definition, it will be short lived.The far more relevant question is at what level will we be when that pent up demand is satisfied and the new normal demand settles.
I have a suspicion no one knows for sure.
moonigan said:
Suffering a bit of FOMO as I see cars I was watching disappear. Just need to keep my nerve and wait.
Really don't understand this mindset. If you've got the cash and you want it, just get it, surely? Waiting for a cheaper price is like the 
s that hang around the reduced section in Tesco waiting for the next re-stock.nickfrog said:
moonigan said:
Suffering a bit of FOMO as I see cars I was watching disappear. Just need to keep my nerve and wait.
Just listen to the wisdom of our resident Shaolin monk and wait until 2034 by which time the car you want will be worth £150.Sorry, October
Sorry, 6 months
Sorry, next summer
Etc etc
It looks like dealers are going the extra mile. My wife had a look at the cars at the local dealers this morning, the ones in the open and at a social distance from the salesman. He offered to deep clean any car to enable a safe test drive, or to get any car from within the group (they have about eight showrooms) for her to try with no obligation. As newish secondhand superminis seem to be an endangered species, they well may find all of this extra effort pays off, and a fire sale won't be needed.
On a related tack, a relative who would normally change his car about now has decided to delay the decision until the autumn as he doesn't know how secure his job is. On this limited but accurate sample, you can predict that at least some of the pent-up demand is likely to be spread over several months. Does this imply a gradual change in pricing, whichever way it goes
On a related tack, a relative who would normally change his car about now has decided to delay the decision until the autumn as he doesn't know how secure his job is. On this limited but accurate sample, you can predict that at least some of the pent-up demand is likely to be spread over several months. Does this imply a gradual change in pricing, whichever way it goes
the-photographer said:
The UK car industry, as the SMMT indicated, will just be in the queue with all the other severely stressed industries hoping for a Govt bailout. Butter Face said:
nickfrog said:
moonigan said:
Suffering a bit of FOMO as I see cars I was watching disappear. Just need to keep my nerve and wait.
Just listen to the wisdom of our resident Shaolin monk and wait until 2034 by which time the car you want will be worth £150.Sorry, October
Sorry, 6 months
Sorry, next summer
Etc etc
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