Will Coronavirus hit used car prices?
Discussion
Sheepshanks said:
lord trumpton said:
All new stuff.....
The thread is about Used prices. Maybe if lots New are being sold then Used will drop?It could be that more people are buying new because near new stock prices are up and / or availability is low.
Thankyou4calling said:
lord trumpton said:
Was chatting with my mate yesterday who is general sales manager at local Audi dealership.
He said they are busy as hell and have had an amazing month and had sold 15 cars that very day.
All new stuff and a lot of S/RS high value stuff too
No sign of demand falling off yet apparently
They sold 15 NEW cars. In a day!!He said they are busy as hell and have had an amazing month and had sold 15 cars that very day.
All new stuff and a lot of S/RS high value stuff too
No sign of demand falling off yet apparently
I’ll leave someone else to comment,
Outlook: expectation of weak performance of global economy and car markets with a clearly adverse impact on deliveries of the Audi brand and on the revenue and operating profit of the Audi Group.
Throttlebody said:
Sure, leave it to the main man - official data from Audi AG and their CFO:
Outlook: expectation of weak performance of global economy and car markets with a clearly adverse impact on deliveries of the Audi brand and on the revenue and operating profit of the Audi Group.
....mainly because they've had a factory shutdown for a quarter of course. Outlook: expectation of weak performance of global economy and car markets with a clearly adverse impact on deliveries of the Audi brand and on the revenue and operating profit of the Audi Group.
ettore said:
Throttlebody said:
Sure, leave it to the main man - official data from Audi AG and their CFO:
Outlook: expectation of weak performance of global economy and car markets with a clearly adverse impact on deliveries of the Audi brand and on the revenue and operating profit of the Audi Group.
....mainly because they've had a factory shutdown for a quarter of course. Outlook: expectation of weak performance of global economy and car markets with a clearly adverse impact on deliveries of the Audi brand and on the revenue and operating profit of the Audi Group.
Throttlebody said:
ettore said:
Throttlebody said:
Sure, leave it to the main man - official data from Audi AG and their CFO:
Outlook: expectation of weak performance of global economy and car markets with a clearly adverse impact on deliveries of the Audi brand and on the revenue and operating profit of the Audi Group.
....mainly because they've had a factory shutdown for a quarter of course. Outlook: expectation of weak performance of global economy and car markets with a clearly adverse impact on deliveries of the Audi brand and on the revenue and operating profit of the Audi Group.
If i were a CEO or CFO of a listed company, i'd want to get all the bad news out there right now when there is an expectation that things are bad so i could then over deliver on expectations.
Edited by Deep Thought on Thursday 2nd July 10:07
Deep Thought said:
And wont they look great when they exceed that very low expectation they have now set?
If i were a CEO or CFO of a listed company, i'd want to get all the bad news out there right now when there is an expectation that things are bad so i could then over deliver on expectations.
CFO of a multi billion dollar car company: We're going to perform very badly. If i were a CEO or CFO of a listed company, i'd want to get all the bad news out there right now when there is an expectation that things are bad so i could then over deliver on expectations.
Edited by Deep Thought on Thursday 2nd July 10:07
Bloke on PistonHeads: I don't believe you.
Yeah okay, I think I know which of the pair of you I'm going to listen to
Algarve said:
CFO of a multi billion dollar car company: We're going to perform very badly.
Bloke on PistonHeads: I don't believe you.
Yeah okay, I think I know which of the pair of you I'm going to listen to
So if you were the CFO, would you want to spend the next 2 years NOT delivering to previously set expectations or would you reset those expectations so you could meet and / or exceed them?Bloke on PistonHeads: I don't believe you.
Yeah okay, I think I know which of the pair of you I'm going to listen to
Edited by Deep Thought on Thursday 2nd July 11:06
Vroomer said:
Every day thousands of job losses are announced and 'doom and gloom' is rampant, yet used car prices are buoyant. Who would have predicted that?
Common sense seems to dictate this can't continue once 'pent-up demand' peters out, but who knows?
Because it comes back to what i said very early on in this thread - people tend not to give a monkeys about the fact that other people (particularly in different industries) may be getting made redundant.Common sense seems to dictate this can't continue once 'pent-up demand' peters out, but who knows?
Fundamentally many people have at least as much money in their pocket, if not more, than pre-lockdown. They dont give a monkeys if, for example airline staff are being laid off.
Maybe they should (because it could be indicative of whats to come) - but typically they dont.
Deep Thought said:
So if you were the CFO, would you want to spend the next 2 years NOT delivering to previously set expectations or would you reset those expectations so you could meet and / or exceed them?
So you're saying that without this type of action, investors etc would be asking "why aren't you hitting your pre-CV targets?" despite the fact that we've had a global pandemic and massive economic disruption with all other car makers smashed? You seriously think it would be credible to ask that type of question post Q2 2020? You don't think - just maybe - this chap is in fact living up to his various professional commitments to provide accurate forecasts etc, rather than shenanigans? Edited by Deep Thought on Thursday 2nd July 11:06
Deep Thought said:
Because it comes back to what i said very early on in this thread - people tend not to give a monkeys about the fact that other people (particularly in different industries) may be getting made redundant.
Fundamentally many people have at least as much money in their pocket, if not more, than pre-lockdown. They dont give a monkeys if, for example airline staff are being laid off.
Maybe they should (because it could be indicative of whats to come) - but typically they dont.
It never ceases to amaze me that so many people seem to have so much money. I don't know how they do it, but a lot of people have a lifestyle that exceeds what is possible on their salary and it can't always be a case of being financed up to their eyeballs.Fundamentally many people have at least as much money in their pocket, if not more, than pre-lockdown. They dont give a monkeys if, for example airline staff are being laid off.
Maybe they should (because it could be indicative of whats to come) - but typically they dont.
The only rational explanation is that a lot of people have been given money by their parents or they simply inherited money. I suppose with house prices the way they are, it only takes one dead grandma to leave you more money than you could potentially save in a lifetime.
growlerowl said:
Deep Thought said:
So if you were the CFO, would you want to spend the next 2 years NOT delivering to previously set expectations or would you reset those expectations so you could meet and / or exceed them?
So you're saying that without this type of action, investors etc would be asking "why aren't you hitting your pre-CV targets?" despite the fact that we've had a global pandemic and massive economic disruption with all other car makers smashed? You seriously think it would be credible to ask that type of question post Q2 2020? You don't think - just maybe - this chap is in fact living up to his various professional commitments to provide accurate forecasts etc, rather than shenanigans? Edited by Deep Thought on Thursday 2nd July 11:06
They can then compare that reset baseline to actual delivered, which i am sure they will (attempt to) exceed.
Better - i would have thought - to say "its going to be really s
t" and then over deliver than "lads we reckon its going to be ok" and under deliver.Irrespective - their statement is based on awful Q2 (practically zero new car sales i'd have thought in April, May) which will clearly impact their year end target and profits.
Joey Deacon said:
Deep Thought said:
Because it comes back to what i said very early on in this thread - people tend not to give a monkeys about the fact that other people (particularly in different industries) may be getting made redundant.
Fundamentally many people have at least as much money in their pocket, if not more, than pre-lockdown. They dont give a monkeys if, for example airline staff are being laid off.
Maybe they should (because it could be indicative of whats to come) - but typically they dont.
It never ceases to amaze me that so many people seem to have so much money. I don't know how they do it, but a lot of people have a lifestyle that exceeds what is possible on their salary and it can't always be a case of being financed up to their eyeballs.Fundamentally many people have at least as much money in their pocket, if not more, than pre-lockdown. They dont give a monkeys if, for example airline staff are being laid off.
Maybe they should (because it could be indicative of whats to come) - but typically they dont.
The only rational explanation is that a lot of people have been given money by their parents or they simply inherited money. I suppose with house prices the way they are, it only takes one dead grandma to leave you more money than you could potentially save in a lifetime.
New primary car at the door - £350 a month
New second car at the door - £250 a month
Nice holiday(s) - £5000 a year / £400 a month
Mortgage - interest rates are ridiculously low
Probably not that hard to maintain with two reasonable or greater incomes, particularly given theres an associated cost with running two used cars, cheaper holiday, cheaper house anyway.
Edited by Deep Thought on Thursday 2nd July 11:46
Deep Thought said:
Because it comes back to what i said very early on in this thread - people tend not to give a monkeys about the fact that other people (particularly in different industries) may be getting made redundant.
Fundamentally many people have at least as much money in their pocket, if not more, than pre-lockdown. They dont give a monkeys if, for example airline staff are being laid off.
Maybe they should (because it could be indicative of whats to come) - but typically they dont.
They may not be worrying about the people who have been made redundant, but the people who have been made redundant will stop spending.Fundamentally many people have at least as much money in their pocket, if not more, than pre-lockdown. They dont give a monkeys if, for example airline staff are being laid off.
Maybe they should (because it could be indicative of whats to come) - but typically they dont.
growlerowl said:
Deep Thought said:
Better - i would have thought - to say "its going to be really st" and then over deliver than "lads we reckon its going to be ok" and under deliver.
You honestly think this is the level at which the CFO of Audi operates?t" and then over deliver than "lads we reckon its going to be ok" and under deliver.I'm sure as usual you want to continue to take words and phrases i've said, quote them out of context or replay back a different meaning in order to undermine my point though.
Deep Thought said:
I'm clearly paraphrasing them to get the point across, but to reiterate - I think fundamentally theres an opportunity here to reset expectations to something a business can meet or exceed, based on prevailing market conditions.
I'm sure as usual you want to continue to take words and phrases i've said, quote them out of context or replay back a different meaning in order to undermine my point though.
I just think both points you made are seriously iffy ie firstly only a fool would hold them to anything like their pre-CV forecasts and secondly suggesting the CFO is engaged in some kind of crude underpromise/overdeliver strategy given the constraints of his fiduciary responsibilities etc is silly - the man could go to prison for inaccurate statements fgsI'm sure as usual you want to continue to take words and phrases i've said, quote them out of context or replay back a different meaning in order to undermine my point though.
Joey Deacon said:
It never ceases to amaze me that so many people seem to have so much money. I don't know how they do it, but a lot of people have a lifestyle that exceeds what is possible on their salary...
It never ceases to amaze me that so many people seem to have so much interest in other people's finances and lifestyles.But perhaps I'm just in the minority in not caring what other people spend their time or money on?
Gassing Station | General Gassing | Top of Page | What's New | My Stuff