Secondhand car price crash? (Vol. 2)
Discussion
Car discounting (call it lowering list prices like Vauxhall did recently with the corsa facelift or bigger reductions & incentives) has been going on for at least 6 months and will likely continue until new cars become affordable to enough people to roughly balance supply and demand,
As such used prices will also reduce but all these things take time for the adjustments to feed through.
As such used prices will also reduce but all these things take time for the adjustments to feed through.
I don't spend much time looking at brand new cars but just had a quick general search.
Are new prices really much higher than they were years ago? Given recent inflation they don't look massively high to me. I looked at mainstream manufacturers and fair discounts are being advertised across the board. Guess it'll take another year to filter down to cheaper nearly new cars?
Are new prices really much higher than they were years ago? Given recent inflation they don't look massively high to me. I looked at mainstream manufacturers and fair discounts are being advertised across the board. Guess it'll take another year to filter down to cheaper nearly new cars?
ACCYSTAN said:
I expect it will be BYD , if they are serious about the UK they could be a real force and push the other manufacturers to continue to compete on price.
I think BYD are very serious about the UK market. They seems to be signing up 3-4 new dealers a week and are we developing serious resources here.They may have hit a bit of a short term stumbling block over insurance and parts distribution but they're a large and determined company who I suspect will get themselves sorted quite quickly.
There hasn't been a crash, there is unlikely to be one, and I think this thread has become a bit of a general gassing topic.
What I find most interesting are posts from those in the car trade. I think it would be brilliant if one of you started a new thread, titled something like 'market movements', where all dealers on here posted their updates.
What I find most interesting are posts from those in the car trade. I think it would be brilliant if one of you started a new thread, titled something like 'market movements', where all dealers on here posted their updates.
Stellantis/Citroen C3 You: Thanks for your replies, think you are right about the price and the agency model. They already have some Stellantis dealers, and the Chelmsford (other end of county from me) dealer is offering the C3 You for 12.5k, best I can find from another dealer is 13.5k, local dealer 14k no discount offered. Big difference on a low value car. My feelings are I liked the car, but not that excited about it, if you can't do a deal then I'll just keep what I've got.
Stellantis &you dealers are owned direct by the firm, they do discount but it’s via leasing.
The independent Peugeot/fiat/citroen/vauxhall/alfa Romeo/jeep dealers are
There’s nothing in the stellantis range be it type of car, size of car, etc that you can’t get from another manufacturer
If they don’t compete on price, don’t buy there cars.
The independent Peugeot/fiat/citroen/vauxhall/alfa Romeo/jeep dealers are
There’s nothing in the stellantis range be it type of car, size of car, etc that you can’t get from another manufacturer
If they don’t compete on price, don’t buy there cars.
macron said:
In!
Vauxhall this morning, no crash, just dumbass list prices no one pays.
That’s a pisser from a price point of view isn’t it, discounting a car with a list price just over £40k means at least an extra £2k in road tax over the first 5 years compared to dropping the list price to £39999Vauxhall this morning, no crash, just dumbass list prices no one pays.
Edited by macron on Sunday 24th March 10:49
Earthdweller said:
That’s a pisser from a price point of view isn’t it, discounting a car with a list price just over £40k means at least an extra £2k in road tax over the first 5 years compared to dropping the list price to £39999
As its an EV (assuming that based on the "Drive Electric Deals" on the screen), is it not exempt from that?Deep Thought said:
Earthdweller said:
That’s a pisser from a price point of view isn’t it, discounting a car with a list price just over £40k means at least an extra £2k in road tax over the first 5 years compared to dropping the list price to £39999
As its an EV (assuming that based on the "Drive Electric Deals" on the screen), is it not exempt from that?Earthdweller said:
Deep Thought said:
Earthdweller said:
That’s a pisser from a price point of view isn’t it, discounting a car with a list price just over £40k means at least an extra £2k in road tax over the first 5 years compared to dropping the list price to £39999
As its an EV (assuming that based on the "Drive Electric Deals" on the screen), is it not exempt from that?
Deep Thought said:
Earthdweller said:
That’s a pisser from a price point of view isn’t it, discounting a car with a list price just over £40k means at least an extra £2k in road tax over the first 5 years compared to dropping the list price to £39999
As its an EV (assuming that based on the "Drive Electric Deals" on the screen), is it not exempt from that?
Cheapest Tesla Model Y is now £31k but high on miles at 62k (22 plate).
I was expecting to see an avalanche of Model 3s hit the used market in Q1 '24 but only a trickle so far.
Quite a few stories out there around private punters getting burned on EVs still, read a few who've lost £25k in 2 years which is gonna sting a little.
I was expecting to see an avalanche of Model 3s hit the used market in Q1 '24 but only a trickle so far.
Quite a few stories out there around private punters getting burned on EVs still, read a few who've lost £25k in 2 years which is gonna sting a little.
macron said:
In!
Vauxhall this morning, no crash, just dumbass list prices no one pays.
Even the now figures look ridiculous but then a non-VXR Corsa is £12k in my head and I still wouldn't buy one. Vauxhall this morning, no crash, just dumbass list prices no one pays.
Edited by macron on Sunday 24th March 10:49
Hard to peg the buyer in that segment that looks past everything else before handing over £25k or the equivalent monthlies.
Edited by ChocolateFrog on Monday 25th March 19:13
ACCYSTAN said:
Disagree, manufacturers have a big mark up on EVs, but that was when supply was limited and demand was healthy.
Now there are lots of EV offerings and moderate demand, and EV list price correction has been underway for the past 6 months and will continue.
When one of the new Chinese manufacturers (not including MG) sets down a proper dealer network and car support in the UK, then we will really see some competition.
I expect it will be BYD , if they are serious about the UK they could be a real force and push the other manufacturers to continue to compete on price.
I note a BYD dealer has popped up in Sheffield already.Now there are lots of EV offerings and moderate demand, and EV list price correction has been underway for the past 6 months and will continue.
When one of the new Chinese manufacturers (not including MG) sets down a proper dealer network and car support in the UK, then we will really see some competition.
I expect it will be BYD , if they are serious about the UK they could be a real force and push the other manufacturers to continue to compete on price.
My gut feeling is they're one generation/development cycle away from clearing up in certain segments, probably less for the likes of BYD and MG.
You'd have to be mad to buy the VW equivalent of a car that costs half as much and is better in almost every metric, which is what's likely to happen unless something changes drastically.
Best start learning Mandarin.
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