Secondhand car price crash?
Discussion
EVOTECH3BELL said:
darreni said:
Prices are certainly softening on the premium suvs as some predicted a while ago.
I reckon the supply will start to increase just as buyers really start feeling the pinch.
Might be underestimating the importance People place on driving their premium SUV a mile to drop the kids off at school.I reckon the supply will start to increase just as buyers really start feeling the pinch.
Some people will go without other things or increase their debt pile before they are seen in a 10 year old hatchback.
RayDonovan said:
EVOTECH3BELL said:
darreni said:
Prices are certainly softening on the premium suvs as some predicted a while ago.
I reckon the supply will start to increase just as buyers really start feeling the pinch.
Might be underestimating the importance People place on driving their premium SUV a mile to drop the kids off at school.I reckon the supply will start to increase just as buyers really start feeling the pinch.
Some people will go without other things or increase their debt pile before they are seen in a 10 year old hatchback.
AlexNJ89 said:
RayDonovan said:
EVOTECH3BELL said:
darreni said:
Prices are certainly softening on the premium suvs as some predicted a while ago.
I reckon the supply will start to increase just as buyers really start feeling the pinch.
Might be underestimating the importance People place on driving their premium SUV a mile to drop the kids off at school.I reckon the supply will start to increase just as buyers really start feeling the pinch.
Some people will go without other things or increase their debt pile before they are seen in a 10 year old hatchback.
I think most people will quite happily move to something easier run. Doesnt need to be a 10 year old hatchback but it could be a 3 series instead of an X5.
The fact that numbers for sale is increasing and that prices are dropping dramatically is testament to that. They're falling out of favour.
Saweep said:
Sytner group seem to have an awful lot of new shape G wagons in stock.
The big GLS/X7s seem to have lost a serious amount of value in the last few months also.
I don't think it's many G's when you consider the size of their network. The one for £215k is nice, but my god, that is an awful lot of money..The big GLS/X7s seem to have lost a serious amount of value in the last few months also.
Presume it's only footballers that bother with these things anyway
darreni said:
RayDonovan said:
I've got a relative looking to sink £75k into a used Defender....
That will just about buy a classic shape 90 the way the prices have been rising!Defenders are an oddity, I reckon if they doubled the prices of new ones, they would struggle to build ‘em fast enough.
See also VW transporters / campers.
Deep Thought said:
AlexNJ89 said:
RayDonovan said:
EVOTECH3BELL said:
darreni said:
Prices are certainly softening on the premium suvs as some predicted a while ago.
I reckon the supply will start to increase just as buyers really start feeling the pinch.
Might be underestimating the importance People place on driving their premium SUV a mile to drop the kids off at school.I reckon the supply will start to increase just as buyers really start feeling the pinch.
Some people will go without other things or increase their debt pile before they are seen in a 10 year old hatchback.
I think most people will quite happily move to something easier run. Doesnt need to be a 10 year old hatchback but it could be a 3 series instead of an X5.
The fact that numbers for sale is increasing and that prices are dropping dramatically is testament to that. They're falling out of favour.
confused_buyer said:
Interesting stuff.RE: EVs levelling out, i see a small dealer local to me who keeps around 30+ cars, now has a front row of electric cars in. I think at least 1/3 of his stock is now electric. All sensibly priced stuff too by the looks of it. Will be interesting to see if that becomes his modus operandi or if hes just being able to pick them up cheap at auction and will go back to all ICE cars subsequently. Nice stuff too across a broad range - Teslas, VW, MINI, Nissan, etc.
confused_buyer said:
Used car magazine in promotes used car market shock. (Forgive my cynicism; too many times have self-interested parties published damn ‘statistics’.)
We've heard plenty of stories on here of EV's not making CAP, because it may be data, but it's also slow, and reacting to turbulent volumes. So it's a useful indicator of what data is gathered, but it does not and cannot cover the whole market as it relies on a reporting to them. And we know dealers will bulls
t prices with what they offer. So as usual...
https://en.m.wikipedia.org/wiki/How_to_Lie_with_St...
t prices with what they offer. So as usual...https://en.m.wikipedia.org/wiki/How_to_Lie_with_St...
Macron said:
We've heard plenty of stories on here of EV's not making CAP, because it may be data, but it's also slow, and reacting to turbulent volumes. So it's a useful indicator of what data is gathered, but it does not and cannot cover the whole market as it relies on a reporting to them. And we know dealers will bullst prices with what they offer. So as usual...
https://en.m.wikipedia.org/wiki/How_to_Lie_with_St...
It is because EVs are not making current CAP prices CAP have reduced them because they were wrong.t prices with what they offer. So as usual...https://en.m.wikipedia.org/wiki/How_to_Lie_with_St...
CAP is to a certain extent looking back. They sometimes try to look forward but don't always get it right. If a car is consistently only achieving 90% of CAP during March in April they will reduce it by 10%. If a car type is making 105% of CAP during March the April guide price will probably be higher.
confused_buyer said:
They talk about excluding EVs from the data due to their recent falls, did they do this when their prices were rising rapidly over the past 2 years, I may have missed it but I can't recall anything, there was a time when EVs were really in demand when leccy was cheap and petrol / diesel rising along with shortages at the pumps. Theoldguard said:
confused_buyer said:
They talk about excluding EVs from the data due to their recent falls, did they do this when their prices were rising rapidly over the past 2 years, I may have missed it but I can't recall anything, there was a time when EVs were really in demand when leccy was cheap and petrol / diesel rising along with shortages at the pumps. If EVs were excluded prices would be 0.3 % higher on top of the 0.5% rise so 0.8% up overall.
Next predicting lower price rises ahead due to reduced production and shipping costs.
So maybe we have peaked on price rises in supply chains and expect others to come out with similar statements, prices are still rising but will be interesting to see what happens with new car price rises this year on the back of some steep increases last couple years that has added thousands to the price of some new cars, this along with improved supply should start to give more room on pricing and discounts.
BBC News - Next says price rises will be less than expected this year
https://www.bbc.co.uk/news/business-65109131
So maybe we have peaked on price rises in supply chains and expect others to come out with similar statements, prices are still rising but will be interesting to see what happens with new car price rises this year on the back of some steep increases last couple years that has added thousands to the price of some new cars, this along with improved supply should start to give more room on pricing and discounts.
BBC News - Next says price rises will be less than expected this year
https://www.bbc.co.uk/news/business-65109131
Question..
If costs go up for a company and they then pass those costs on to the consumer by raising prices, if they rely on debt, or their suppliers rely on debt, doesn't increasing the interest rate still lead to them having to raise prices?
Or does the reduced demand due to higher interest rates stop them from increasing the prices?
If costs go up for a company and they then pass those costs on to the consumer by raising prices, if they rely on debt, or their suppliers rely on debt, doesn't increasing the interest rate still lead to them having to raise prices?
Or does the reduced demand due to higher interest rates stop them from increasing the prices?
AlexNJ89 said:
Question..
If costs go up for a company and they then pass those costs on to the consumer by raising prices, if they rely on debt, or their suppliers rely on debt, doesn't increasing the interest rate still lead to them having to raise prices?
Or does the reduced demand due to higher interest rates stop them from increasing the prices?
A bit of both I would guess, they need to address the rising prices as it leads to higher inflation, higher wage demands that lead to higher IR, so they need to break the cycle that up until now with a lag on IR they have managed to avoid. More control over supply costs will help as up until now its been difficult with energy prices rising month on month supplier costs have just kept rising, now all seem to be levelling off, financing debt is more fixed cost even if at higher rates. If costs go up for a company and they then pass those costs on to the consumer by raising prices, if they rely on debt, or their suppliers rely on debt, doesn't increasing the interest rate still lead to them having to raise prices?
Or does the reduced demand due to higher interest rates stop them from increasing the prices?
Saweep said:
Sytner group seem to have an awful lot of new shape G wagons in stock.
The big GLS/X7s seem to have lost a serious amount of value in the last few months also.
G Wagons are interesting being one of the most desirable SUVs. The big GLS/X7s seem to have lost a serious amount of value in the last few months also.
Will be interesting to see how they hold up once the first and second owners have had their fill.
Haven't seen the sales figures but wouldn't be surprised if the new model has outsold the old model 10 to 1.
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