Chris Harris's Column -- Burst Bubble;Massive Dump;Bargains
Discussion
Candellara said:
However, outside of the political and economic influences, fossil fuelled cars are very much now in their twilight years - and fossil fuelled sportscars potentially viewed by many as socially unacceptable.
As the world kills off the manufacture of fossil fuelled cars, I think those cars that exist for pleasure (such as sports cars, super cars, collectible cars etc) will increase in value in the long-term, simply as they won't be making them anymore.Don't underestimate the human spirit and people's passion for things.
As can be seen in all recent auctions, people who know are offloading. The historic collectibles will retain value, but the mass produced stuff won’t. So... buying for investment is a risky play, but buying for fun isn’t.
As for values in future, the collectors of the future born in this millennial generation and younger just aren’t as bothered about the internal combustion engine as us older folk. To them electric is very cool and the future. Given that there are literally millions of our dated petrol engine supercars sloshing around, and a dwindling population of punters to buy them, coupled with ever increasing fuel prices, running costs, and taxation, there is only one way for their values to go.
As for values in future, the collectors of the future born in this millennial generation and younger just aren’t as bothered about the internal combustion engine as us older folk. To them electric is very cool and the future. Given that there are literally millions of our dated petrol engine supercars sloshing around, and a dwindling population of punters to buy them, coupled with ever increasing fuel prices, running costs, and taxation, there is only one way for their values to go.
Interesting article by SSO on driving forces in the SC market https://karenable.com/view-on-the-car-market-q2-20...
subirg said:
As can be seen in all recent auctions, people who know are offloading. The historic collectibles will retain value, but the mass produced stuff won’t. So... buying for investment is a risky play, but buying for fun isn’t.
As for values in future, the collectors of the future born in this millennial generation and younger just aren’t as bothered about the internal combustion engine as us older folk. To them electric is very cool and the future. Given that there are literally millions of our dated petrol engine supercars sloshing around, and a dwindling population of punters to buy them, coupled with ever increasing fuel prices, running costs, and taxation, there is only one way for their values to go.
This is a very sad, but very true post. My 3 sons have zero interest in big V10, V12 engines. As for values in future, the collectors of the future born in this millennial generation and younger just aren’t as bothered about the internal combustion engine as us older folk. To them electric is very cool and the future. Given that there are literally millions of our dated petrol engine supercars sloshing around, and a dwindling population of punters to buy them, coupled with ever increasing fuel prices, running costs, and taxation, there is only one way for their values to go.
Roof down said:
Pioneer said:
This is a very sad, but very true post. My 3 sons have zero interest in big V10, V12 engines.
My three children now in their thirties and their own partners are the same.No real interest or enthusiasm, it’s a bleak looking future
subirg said:
As for values in future, the collectors of the future born in this millennial generation and younger just aren’t as bothered about the internal combustion engine as us older folk. To them electric is very cool and the future.
That's completely the opposite of my experience. I cant go out in my vintage, classic or supercars without kids and people under 25 pointing, asking questions and wanting to sit in them, which I always invite them to do. By far the favourites amongst kids under 15 are my F12, 458 Spider and my 1930 Model A convertible and that last one is a million miles away from today's world of smartphones and the internet etc. Younger people always express an intent to one day own a supercar, without fail (and I go into my old man lecture about 'you can achieve anything, I used to have a market stall' blah blah). They without fail ask me to 'rev it up mister' too so they clearly do have an interest in ICE cars. I've experienced this right across Europe too.
Some further, albeit also anecdotal, evidence is the popularity of youtube channels such as Schmee150's. I'm willing to bet his audience demographic is under 25s and there are many channels aimed at the same audience that have large followings,
It's not limited to younger people either. I see people of all ages at the Revival (try getting a hotel for this year's event), FoS and other events (lots and lots of families with small kids) and just yesterday I stood in my local BP station after filling up my F12 and ended up in an hour long conversation with a bloke in his thirties after I let his 6 year old lad sit in it and a chap in his 60s (who's battery was flat in his 993 Porsche) joined us. A pretty broad demographic.
ICE cars wont be mainstream in 20 years, no doubt about that. We'll still be driving them on the road but dont assume it'll be expensive to do so. All my cars that are 40+ years old or older are free to tax and don't need an MOT, that is a rolling 40 years so we're currently at 1979. Petrol will be more expensive but that's a given if you look at historic petrol prices.
For the next 20 years we'll mostly be driving petrol hybrid (so we will still be able to buy petrol).
We simply don't have the power network (generating nor delivering it to the public) to support hundreds of thousands of us suddenly switching to pure electric (and suddenly in terms of building power stations and charging points is a decade). Bear in mind that it's not just today's needs plus 95% of us driving electric cars. It's today's needs plus all the new houses (and supporting hospitals, schools etc) plus all electric cars they need to gear up for. Not to mention the commercial requirements such as trucks and trains that are all diesel. On top of all that the power stations we have already have a long journey to complete just to maintain their current output but using supposedly environmentally friendly fuels.
Finally politically why would any government go out of their way to destroy billions of value in assets when 95% of the population have switched over to hybrid/electric? There's just no point in going through the hassle and there's no precedent for it in the UK, indeed, as I say above, they actually make it easier to own older cars.
Anyway, I've blathered slightly off topic there because I've ended up replying to posts I've read over the last few days rather than just your comment. Sorry. Bit sick of the blinkered naysayers who see one side of things. Probably all Prius drivers. ;-)
Edited by _Leg_ on Thursday 18th April 19:11
I've not shown any interest in this ULEZ thing as I make a point of not visiting London in any form of transport, but someone on another thread mention it which inspired me to check my two most different cars out. This made me laugh.
F12 6300cc V12 735bhp runs on super unleaded- exempt
1967 Abarth 595cc 27bhp runs on super unleaded - not exempt
Hahaha. Supercars are saving the environment. Wahoo!
F12 6300cc V12 735bhp runs on super unleaded- exempt
1967 Abarth 595cc 27bhp runs on super unleaded - not exempt
Hahaha. Supercars are saving the environment. Wahoo!
_Leg_ said:
I've not shown any interest in this ULEZ thing as I make a point of not visiting London in any form of transport, but someone on another thread mention it which inspired me to check my two most different cars out. This made me laugh.
F12 6300cc V12 735bhp runs on super unleaded- exempt
1967 Abarth 595cc 27bhp runs on super unleaded - not exempt
Hahaha. Supercars are saving the environment. Wahoo!
Or in my case, 2008 Maserati GT 4.2 v8 exempt. Wish I still had it so we could use it for family trips to London as they don’t all fit in my r8 any moreF12 6300cc V12 735bhp runs on super unleaded- exempt
1967 Abarth 595cc 27bhp runs on super unleaded - not exempt
Hahaha. Supercars are saving the environment. Wahoo!
2012 2.2 diesel Range Rover that the government encouraged me to buy, not exempt.
Roof down said:
Pioneer said:
This is a very sad, but very true post. My 3 sons have zero interest in big V10, V12 engines.
My three children now in their thirties and their own partners are the same.No real interest or enthusiasm, it’s a bleak looking future
aaron_2000 said:
Welshbeef said:
aaron_2000 said:
I'd hate to be 3 years old and into cars like I was now.
Just make sure your daddy buys you a decent car so when you 3yo comes of age they have something nice to pedal. Your 3yo daddy can buy you say a 997 Turbo now and keep it until you come of age what a lovely gift but also what a machine vs the EVs that will be all that’s available then. (Exchange 997 Turbo with whatever daddy thinks 3yo son might like/what daddy likes and assumes 3yo will in 20 years time.
Maniac669 said:
Welshbeef said:
aaron_2000 said:
I'd hate to be 3 years old and into cars like I was now.
Just make sure your daddy buys you a decent car so when you 3yo comes of age they have something nice to pedal. Some daddies do this some no doubt with the 2.7RS touring.
Your point was 3yo stands no chance today - well yes they do daddy can ensure it does. Your no doubt a daddy or to be so make sure you man up and buy said lovely car and V5 it in his o her name
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