Will Coronavirus hit used car prices?
Discussion
Shadow R1 said:
I think that it is possible to see some small green shoots of recovery in those figures. Private sales are only* down by 19%, fleet sales still by a lot, but many businesses were still in lockdown until last weekend and the airport rental business must still be flat on its backside. It would appear that the mainstream manufacturers are getting back into production, as Tesla has now slipped way down the top 10 list and will probably be out of it at the end of this month. It is reasonable to expect these figures to gradually but steadily improve.I wonder how used sales compare. I would also think that the most popular models are much the same as for new ones, I would be surprised if the anecdotal accounts by PHers reflect the real market.
They’re pretty much exactly what you’d expect aren’t they? One dead quarter. It’s pretty even across all brands and I suspect any specific variances are mainly down to what physical product was already in the supply chain.
Manufacturing won’t be fully up and running this quarter either; many plants are not at full output because of the new measures and supply chain issues. Some plants are only opening/scaling with demand. This is a unique situation where supply and demand ceased at the same point.
If we assume that supply is still an issue for a while yet, then we won’t necessarily see a major depressive effect until the final quarter. Question is whether our economies start to recover in time.
Manufacturing won’t be fully up and running this quarter either; many plants are not at full output because of the new measures and supply chain issues. Some plants are only opening/scaling with demand. This is a unique situation where supply and demand ceased at the same point.
If we assume that supply is still an issue for a while yet, then we won’t necessarily see a major depressive effect until the final quarter. Question is whether our economies start to recover in time.
ettore said:
Knowledge based industries that require cumulative/combined thought. Creative businesses. Businesses that aren't solely full of introverts. Businesses that require young people. Businesses that rely on nurturing and developing talent. Specialised industries that need to attract and develop specialised skills. Businesses that physically make something. Any firm where culture provides a competitive advantage.
Doesn't mean, nor is intended to imply, a 9-5 treadmill, but people work best when they're with people.
The company i am currently contracting for would tick all those boxes that you are suggesting would require office based team working bar physically making something. They are one of the worlds largest media insights companies.Doesn't mean, nor is intended to imply, a 9-5 treadmill, but people work best when they're with people.
They're definitely in no rush to bring people back to their offices and i know they've at very least put on hold / cancelled further office expansion plans in London.
It will be interesting to see if they push everyone to return to the office, though so far they've embraced the change and new ways of working.
ettore said:
They’re pretty much exactly what you’d expect aren’t they? One dead quarter. It’s pretty even across all brands and I suspect any specific variances are mainly down to what physical product was already in the supply chain.
Manufacturing won’t be fully up and running this quarter either; many plants are not at full output because of the new measures and supply chain issues. Some plants are only opening/scaling with demand. This is a unique situation where supply and demand ceased at the same point.
If we assume that supply is still an issue for a while yet, then we won’t necessarily see a major depressive effect until the final quarter. Question is whether our economies start to recover in time.
Yup. Thats pretty much it.Manufacturing won’t be fully up and running this quarter either; many plants are not at full output because of the new measures and supply chain issues. Some plants are only opening/scaling with demand. This is a unique situation where supply and demand ceased at the same point.
If we assume that supply is still an issue for a while yet, then we won’t necessarily see a major depressive effect until the final quarter. Question is whether our economies start to recover in time.
All franchised dealerships closed. Not a surprise they didnt sell any cars.
There's a big difference between wouldn't buy and couldn't buy.
Edited by Deep Thought on Tuesday 7th July 18:43
Earthdweller said:
The commercial letting business is in for a bloodbath without doubt
But the knock on effect to all the associated businesses will be huge. Mates wife has a sandwich shop in a town centre, just her and a couple of girls. It’s been a goldmine but now is not viable at all. No office workers, no students, shoppers etc
There’s council offices round the corner and a business park .. that are just deserted and the council staff apparantly won’t be coming back till next year
For her and thousands of little businesses, mostly sole traders it’s going to be the end
Pret and uppercrust etc shedding hundreds will make the news .. my mates wife’s little shop closing won’t .. but cumulatively it will be seismic
True, for every major industry affected, it ripples out. Those hardest hit will invariably be the small businesses. With regards to reducing office space, it’ll also impact upon cleaners, office supplies etc.But the knock on effect to all the associated businesses will be huge. Mates wife has a sandwich shop in a town centre, just her and a couple of girls. It’s been a goldmine but now is not viable at all. No office workers, no students, shoppers etc
There’s council offices round the corner and a business park .. that are just deserted and the council staff apparantly won’t be coming back till next year
For her and thousands of little businesses, mostly sole traders it’s going to be the end
Pret and uppercrust etc shedding hundreds will make the news .. my mates wife’s little shop closing won’t .. but cumulatively it will be seismic
ettore said:
Knowledge based industries that require cumulative/combined thought. Creative businesses. Businesses that aren't solely full of introverts. Businesses that require young people. Businesses that rely on nurturing and developing talent. Specialised industries that need to attract and develop specialised skills. Businesses that physically make something. Any firm where culture provides a competitive advantage.
Doesn't mean, nor is intended to imply, a 9-5 treadmill, but people work best when they're with people.
That is a good point. I’m a charted QS and whilst I’m quite capable of picking stuff up and running with it, there’s quite a bit of concern about the stuff that our trainees and grads are missing out on. Usually in the office, there’s quite a lot of problem solving discussions between people and a lot of practical knowledge can be picked up. Whilst they’re at home, they’re missing out in all of that.Doesn't mean, nor is intended to imply, a 9-5 treadmill, but people work best when they're with people.
Whilst Zoom, Microsoft Teams etc are all very good, it’s sometimes far easier to sit diwn with drawings, contracts etc to run through with people and explain what you need them to do for you etc. The other issue I’m finding is that rather than having a day to deal with multiple things, our getting a meeting for two hours about change costs control, another to run through reports etc so your diary beings congested very quickly.
Deep Thought said:
What competitive benefits are there to that that translates to a quantifiable benefit and cost saving to the client?
We operate very effectively as a team via MS Teams. Very easy to jump on calls, chat and collaborate on documents and work.
I'm not sure how dragging us all in to an office every day would improve that.
Maybe the benefit being office bound would keep workers off social media and add to productivity? We operate very effectively as a team via MS Teams. Very easy to jump on calls, chat and collaborate on documents and work.
I'm not sure how dragging us all in to an office every day would improve that.
Anonymous-poster said:
Maybe the benefit being office bound would keep workers off social media and add to productivity?
"Workers"? Well that clearly won't affect anyone on here then.Isnt everyone either a Director, Consultant, Social Media Trail Blazer or High Flying Business owner?
Edited by Deep Thought on Tuesday 7th July 23:22
Butter Face said:
Buster73 said:
Butter Face said:
Yes, but this is Pistonheads. Lots on here can't even face speaking to a human to buy a car 
No , it’s just you.
Shadow R1 said:
https://www.smmt.co.uk/vehicle-data/car-registrati...
Interesting in the specific brands for June 2019 to 2020, Porsche and Lexus registered the same as last year.
Toyota the only large scale manufacture to record the same as June last year.
I was trying to get a deal on a new bike over the weekend, nothing doing.
Manufacture deals, were on the small stuff with 0% and parts etc.
That particular dealership has all it's staff back and was working through a backlog of service\workshop jobs.
Toyota’s success was down to sales of its Hybrids. Interesting in the specific brands for June 2019 to 2020, Porsche and Lexus registered the same as last year.
Toyota the only large scale manufacture to record the same as June last year.
I was trying to get a deal on a new bike over the weekend, nothing doing.
Manufacture deals, were on the small stuff with 0% and parts etc.
That particular dealership has all it's staff back and was working through a backlog of service\workshop jobs.
Porsche was due to Bounce Back loans, or more likely those with ££ doing the life is too short thingy. Niche Caterham also had a post lockdown buying surge.
Throttlebody said:
With the rise of e-commerce and manufacturers embracing car click and collect, you can now avoid the unnecessary interaction with a car salesman.
TBH, if people want to buy cars through ‘click and collect’ without me having to spend hours going through colours, options, finance offers and test drives then that suits me just fine Butter Face said:
Just out of interest, who would you be comfortable seeing?
So you arrange your test drive online, pick your spec online, pay online etc.
You go for your test drive and there’s a nice person to greet you, let’s call them a ‘product specialist’ and they show you the car, send you off and when you come back say ‘was everything ok?’ And answer any questions you have about colours/spec/finance options and then you carry on buying online.
Then when you collect your shiny car, the same person is there ‘hello, mr Johns, here is your new car, I’ll show you some controls if you like?’
And off you go. Comfortable?
Because that’s pretty much what a car salesman does in 2020.
As well as....So you arrange your test drive online, pick your spec online, pay online etc.
You go for your test drive and there’s a nice person to greet you, let’s call them a ‘product specialist’ and they show you the car, send you off and when you come back say ‘was everything ok?’ And answer any questions you have about colours/spec/finance options and then you carry on buying online.
Then when you collect your shiny car, the same person is there ‘hello, mr Johns, here is your new car, I’ll show you some controls if you like?’
And off you go. Comfortable?
Because that’s pretty much what a car salesman does in 2020.
Upswell, protection and finance products.
Majoiurty of pay still comes from commission, therefore there is still some element of prequalifiing (judging) buyers. .... I missed out pressure (in a friendly way) you to complete the customer feedback survey positively.
I wish it was just the elements as you described, but the pay and measures, still reward the wrong behaviour.
Wilmslowboy said:
Butter Face said:
Just out of interest, who would you be comfortable seeing?
So you arrange your test drive online, pick your spec online, pay online etc.
You go for your test drive and there’s a nice person to greet you, let’s call them a ‘product specialist’ and they show you the car, send you off and when you come back say ‘was everything ok?’ And answer any questions you have about colours/spec/finance options and then you carry on buying online.
Then when you collect your shiny car, the same person is there ‘hello, mr Johns, here is your new car, I’ll show you some controls if you like?’
And off you go. Comfortable?
Because that’s pretty much what a car salesman does in 2020.
As well as....So you arrange your test drive online, pick your spec online, pay online etc.
You go for your test drive and there’s a nice person to greet you, let’s call them a ‘product specialist’ and they show you the car, send you off and when you come back say ‘was everything ok?’ And answer any questions you have about colours/spec/finance options and then you carry on buying online.
Then when you collect your shiny car, the same person is there ‘hello, mr Johns, here is your new car, I’ll show you some controls if you like?’
And off you go. Comfortable?
Because that’s pretty much what a car salesman does in 2020.
Upswell, protection and finance products.
Majoiurty of pay still comes from commission, therefore there is still some element of prequalifiing (judging) buyers. .... I missed out pressure (in a friendly way) you to complete the customer feedback survey positively.
I wish it was just the elements as you described, but the pay and measures, still reward the wrong behaviour.
You are correct that the job of a car salesman (or any salesperson in virtually any industry that I’m aware of) is to qualify customers, offer additional services and products (that make their employer money)
Switching to a ‘buy online’ method won’t change these, it’ll just switch the way they’re done. You’ll still be offered all the services, you’ll still be qualified (by someone, be it a call centre or a salesman at the end of the phone) and you’ll still be asked (nicely) to complete the survey.
The end result will always be the same, just achieved in differing ways. Manufacturers want to make money, dealers want to make money, sales people (product specialists, whatever) still want to get paid so people will be ‘sold to’
extroversion/introversion doesn;t mean you do or don't like people. More extroverted people are more likely to feel energized around others, whereas introverts are the opposite. It's also not black or white, people change in different environments.
I like being around people I want to be around, at a time that's good for me and them.
I prefer working alone, having the odd meeting via Zoom/Teams and phone calls where necessary. Rather than spending time to commute into office, forced to be around/interact people who range from alright to downright annoying.
Feel much more relaxed since lockdown began and constantly working from home. Just a shame we've been limited to what we can do in our own time.
I like being around people I want to be around, at a time that's good for me and them.
I prefer working alone, having the odd meeting via Zoom/Teams and phone calls where necessary. Rather than spending time to commute into office, forced to be around/interact people who range from alright to downright annoying.
Feel much more relaxed since lockdown began and constantly working from home. Just a shame we've been limited to what we can do in our own time.
Edited by b80 on Wednesday 8th July 08:05
Butter Face said:
Just out of interest, who would you be comfortable seeing?
So you arrange your test drive online, pick your spec online, pay online etc.
You go for your test drive and there’s a nice person to greet you, let’s call them a ‘product specialist’ and they show you the car, send you off and when you come back say ‘was everything ok?’ And answer any questions you have about colours/spec/finance options and then you carry on buying online.
Then when you collect your shiny car, the same person is there ‘hello, mr Johns, here is your new car, I’ll show you some controls if you like?’
And off you go. Comfortable?
Because that’s pretty much what a car salesman does in 2020.
To be fair in the £400 Micra and imaginary BMW market I doubt you get more than a key and a smile.So you arrange your test drive online, pick your spec online, pay online etc.
You go for your test drive and there’s a nice person to greet you, let’s call them a ‘product specialist’ and they show you the car, send you off and when you come back say ‘was everything ok?’ And answer any questions you have about colours/spec/finance options and then you carry on buying online.
Then when you collect your shiny car, the same person is there ‘hello, mr Johns, here is your new car, I’ll show you some controls if you like?’
And off you go. Comfortable?
Because that’s pretty much what a car salesman does in 2020.
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