Will Corona effect the Supercar Market

Will Corona effect the Supercar Market

Author
Discussion

rival38

254 posts

97 months

Thursday 12th March
quotequote all
All asset prices are taking a severe kicking. Cars will not be different, there will effectively be no substantial bid in the market for luxury toys of any sort. Things are escalating very scarily fast with this virus, and it may be some considerable time before we come out the ther side. What the world looks like politicaly and economicaly once we do is any bodys guess at this point.

markst

Original Poster:

194 posts

117 months

Thursday 12th March
quotequote all
rival38 said:
All asset prices are taking a severe kicking. Cars will not be different, there will effectively be no substantial bid in the market for luxury toys of any sort. Things are escalating very scarily fast with this virus, and it may be some considerable time before we come out the ther side. What the world looks like politicaly and economicaly once we do is any bodys guess at this point.
looking at the way CV is going...….I wonder if the question should be how low can they go...….

jonah35

3,714 posts

109 months

Thursday 12th March
quotequote all
I think you may all laugh but I do think a 30-45% fall is likely

Cheib

18,052 posts

127 months

Thursday 12th March
quotequote all
jonah35 said:
I think you may all laugh but I do think a 30-45% fall is likely
I was going to post that anyone thinking of buying a car within 20% of it’s sale price a month ago is bonkers...so i guess not far off.

r23ves

10 posts

50 months

Thursday 12th March
quotequote all
jonah35 said:
I think you may all laugh but I do think a 30-45% fall is likely
I agree and while stock markets may recover reasonably quickly I don't think supercars will for a long time.

Edited by r23ves on Thursday 12th March 22:06

scottydoesntknow

781 posts

9 months

Thursday 12th March
quotequote all
Guy on another thread is trying to get out of his 5 series. WBAC bid has gone from £9.4k to £8k in two weeks.

jonah35

3,714 posts

109 months

Thursday 12th March
quotequote all
I think gone are the days of the £65k Sierra Cosworth

Gone are the days of the £100k Ferrari 355

The cars are still advertised at those prices now because the vendors haven’t changed their price but soon the advertised prices will drop

The smart dealer is the one that under prices his stock now and shifts it ASAP before he is left holding the stock

Well worth building up or having a cash reserve for that bargain

av185

10,494 posts

79 months

Thursday 12th March
quotequote all
r23ves said:
jonah35 said:
I think you may all laugh but I do think a 30-45% fall is likely
I agree and while stock markets may recover reasonably quickly I don't think supercars will for a long time.

Edited by r23ves on Thursday 12th March 22:06
They recovered very quickly after the 2008 crisis as anyone who sold at the time found out to their substantial cost buying back in.

cgt2

1,454 posts

140 months

Thursday 12th March
quotequote all
av185 said:
They recovered very quickly after the 2008 crisis as anyone who sold at the time found out to their substantial cost buying back in.
I bought a 993 2S (last year of production, 1997 car) for £21k in 2013. I seem to recall it took a good 4 years

av185

10,494 posts

79 months

Thursday 12th March
quotequote all
cgt2 said:
av185 said:
They recovered very quickly after the 2008 crisis as anyone who sold at the time found out to their substantial cost buying back in.
I bought a 993 2S (last year of production, 1997 car) for £21k in 2013. I seem to recall it took a good 4 years
2 to 3 year old Ferraris and Porsches were retailing for more in mid 2009 than they were mid 2008.

Raygun

3,202 posts

72 months

Friday 13th March
quotequote all
Bar toilet paper, hand cleaner and food I'm guessing Coronavirus will affect all markets in the current situation.

RDMcG

14,594 posts

159 months

Friday 13th March
quotequote all
Raygun said:
Bar toilet paper, hand cleaner and food I'm guessing Coronavirus will affect all markets in the current situation.
Absolutely...this will be a bad run.
Tupperware stock is up though.

Fast Eddie

181 posts

197 months

Friday 13th March
quotequote all
mike01606 said:
I've just come off the phone with a colleague who was very negative about the impact of CV on the economy and generally everything....I was really surprised how far apart we were.

My view, still too early to tell. There needs to be some perspective applied and when it improves, which it will, we all need to help businesses survive and recover rather than look to government for all the answers. If that happens any effects should be transient and I will personally do everything I can, starting with my local pub tonight!

If I was in the market for a car I'd buy one and I'm actually looking for a relatively expensive motorhome at the moment without a second thought. How many years have we all got left whilst waiting for 'right market' to come along?
Yes agree. Tired of all these people waiting for an additional price drop. If you're selling there's 2 sides to the deal anyway.
Someone said 'We're here for a good time not a long time.'

Ferruccio

1,007 posts

71 months

Friday 13th March
quotequote all
av185 said:
cgt2 said:
av185 said:
They recovered very quickly after the 2008 crisis as anyone who sold at the time found out to their substantial cost buying back in.
I bought a 993 2S (last year of production, 1997 car) for £21k in 2013. I seem to recall it took a good 4 years
2 to 3 year old Ferraris and Porsches were retailing for more in mid 2009 than they were mid 2008.
There was a structural change in interest rates and thus car financing deals.
That can’t happen in the same way this time.

Also supply has just kept going up and up.

cgt2

1,454 posts

140 months

Friday 13th March
quotequote all
Ferruccio said:
There was a structural change in interest rates and thus car financing deals.
That can’t happen in the same way this time.

Also supply has just kept going up and up.
It's also very evident that there are far less examples of a number of models registered in 2009-10-11 compared with the preceding few years and post 2012. How many 430's or 599's are on the market from 2009-10, even though their replacements were some way off. I bought several amazing cars throughout these years for crazy money, hence why it's very clear in my mind!

PompeyReece

753 posts

41 months

Friday 13th March
quotequote all
Raygun said:
Bar toilet paper, hand cleaner and food I'm guessing Coronavirus will affect all markets in the current situation.
...and Netflix, Durex and games consoles smile

Raygun

3,202 posts

72 months

Friday 13th March
quotequote all
PompeyReece said:
Raygun said:
Bar toilet paper, hand cleaner and food I'm guessing Coronavirus will affect all markets in the current situation.
...and Netflix, Durex and games consoles smile
No relevance to me as I approach 60 in a couple of years.

andrew

8,937 posts

144 months

Friday 13th March
quotequote all
PompeyReece said:
Raygun said:
Bar toilet paper, hand cleaner and food I'm guessing Coronavirus will affect all markets in the current situation.
...and Netflix, Durex and games consoles smile
pretty dull sex if you also require netflix and a games console

andrew

8,937 posts

144 months

Friday 13th March
quotequote all
ftm lamborghini production has now stopped
atb italy

AndrewD

7,028 posts

236 months

Friday 13th March
quotequote all
andrew said:
PompeyReece said:
Raygun said:
Bar toilet paper, hand cleaner and food I'm guessing Coronavirus will affect all markets in the current situation.
...and Netflix, Durex and games consoles smile
pretty dull sex if you also require netflix and a games console
Ironic post from somebody who requires torches, lay-bys and strangers smile