Will Corona effect the Supercar Market

Will Corona effect the Supercar Market

Author
Discussion

carspath

832 posts

176 months

Sunday 15th March 2020
quotequote all
I have not been following supercar prices closely for sometime now ,but have been looking at used Elise and Exige prices religiously for the last 18 months .

Two days ago , for the first time in the last year and a half , I found an Exige S2 at a main dealer that has had a very significant price reduction ( castle lotus yellow S2 from 28k to 25k ) . Admittedly that car has been on sale for some considerable period , but you would not expect a price reduction in early March for an Exige . The Elise and Exige also have a reputation for cast iron residuals , so this particular price reduction carries a message within it .

But with recent reports suggesting that younger people are now being identified with severe infection , it brings to the fore that you should enjoy responsibly while you can .
Buy what you really , really want , and hang on to it forever , and depreciation becomes irrelevant .

Greta and her ilk , although highlighting the truth and the obvious , are the greatest threat to the supercar.... although supercars are responsible for a minute proportion of the co2 and NoX output .
Sadly they attract too much attention and envy , so are at the top of the hit list ... a shallow response , but that is the reality

HokumPokum

2,049 posts

204 months

Sunday 15th March 2020
quotequote all
people need to understand that China being on top of the virus and starting production plus the west starting lockdown is very positive news.

Also that a vaccine is being trialed and could be in production in months is very positive plus the central banks are throwing money at the situation plus interest rates in the U.S going to zero very very soon changes how people think.


In a world where FOMO and zero rates, you think you want to sit on money especially if the biggest manufacturer of the world is back in production, you are then not forecasting that fact that it is flu-like. ie this will pass. LOOK AT CHINA, SOUTH KOREA


Sure you could miss the first 5% of jump back, but these things have a habit of moving back fast too.


It is easy to doom and gloom everything, it actually takes courage and clarity of mind to go the other way.

dvb247

270 posts

197 months

Sunday 15th March 2020
quotequote all
I'm back in the market again, looking for a 430 or a push to a 458, slightly distracted by a Mac 12c or 650s too, but I'm going to continue to wait, I'm sick of seeing the same unsold stock at top end money, a particular 430 I like actually went up from 65k to 70k last month, dealer said it was SOR but the owner was desperate for money so they bought it into their stock, I am genuinely interested but would be very reluctant in paying anything starting with a 6. and the 458 market is super crazy, why would anyone pay 145k for a 7 to 10 year old car? thats when Mclaren come in to the party, because they fall off a cliff in the first 2/3 years and are now pretty good value for money, a 650s at 90k, thats a lot of supercar and has all the drama.
Meanwhile as I wait my b@s%$rd FFRR drops 1k per month :-\

Drl22

764 posts

64 months

Sunday 15th March 2020
quotequote all
HokumPokum said:
people need to understand that China being on top of the virus and starting production plus the west starting lockdown is very positive news.

Also that a vaccine is being trialed and could be in production in months is very positive plus the central banks are throwing money at the situation plus interest rates in the U.S going to zero very very soon changes how people think.


In a world where FOMO and zero rates, you think you want to sit on money especially if the biggest manufacturer of the world is back in production, you are then not forecasting that fact that it is flu-like. ie this will pass. LOOK AT CHINA, SOUTH KOREA


Sure you could miss the first 5% of jump back, but these things have a habit of moving back fast too.


It is easy to doom and gloom everything, it actually takes courage and clarity of mind to go the other way.
+1 we are just behind the curve. China is on the up again already.

Cheib

23,112 posts

174 months

Sunday 15th March 2020
quotequote all
Each to their own but I am genuinely staggered that people think this is going to be a one or two month issue and things will be on the way up by the beginning of summer.

anonymous-user

53 months

Sunday 15th March 2020
quotequote all
carspath said:
I have not been following supercar prices closely for sometime now ,but have been looking at used Elise and Exige prices religiously for the last 18 months .

Two days ago , for the first time in the last year and a half , I found an Exige S2 at a main dealer that has had a very significant price reduction ( castle lotus yellow S2 from 28k to 25k ) . Admittedly that car has been on sale for some considerable period , but you would not expect a price reduction in early March for an Exige . The Elise and Exige also have a reputation for cast iron residuals , so this particular price reduction carries a message within it .
Tbh this moment in time couldn't be a worse time for selling an expensive toy BUT there could be a big bounce back-up once we're see light at the end of a tunnel, we've had a wet windy 6 month Winter followed by this poxy virus, there's a good chance people will want to go out and enjoy themselves once it's all over.

r23ves

11 posts

97 months

Sunday 15th March 2020
quotequote all
If it was just the virus I'd say it would be a minor blip. But its the virus + corporate debt crisis + oil price shock altogether.

Larry5.2

496 posts

107 months

Sunday 15th March 2020
quotequote all
r23ves said:
If it was just the virus I'd say it would be a minor blip. But its the virus + corporate debt crisis + oil price shock altogether.
Let's not forget Brexit. If BJ has any sense, he'll postpone it as we don't want to give the economy yet another shock come Xmas.... but he doesn't...

johnnyreggae

2,930 posts

159 months

Sunday 15th March 2020
quotequote all
Remoaning is so last year............

SVJBalboni

479 posts

53 months

Sunday 15th March 2020
quotequote all
HokumPokum said:
people need to understand that China being on top of the virus and starting production plus the west starting lockdown is very positive news.

Also that a vaccine is being trialed and could be in production in months is very positive plus the central banks are throwing money at the situation plus interest rates in the U.S going to zero very very soon changes how people think.


In a world where FOMO and zero rates, you think you want to sit on money especially if the biggest manufacturer of the world is back in production, you are then not forecasting that fact that it is flu-like. ie this will pass. LOOK AT CHINA, SOUTH KOREA


Sure you could miss the first 5% of jump back, but these things have a habit of moving back fast too.


It is easy to doom and gloom everything, it actually takes courage and clarity of mind to go the other way.
100% agree with this.

cgt2

7,093 posts

187 months

Sunday 15th March 2020
quotequote all
Larry5.2 said:
Let's not forget Brexit. If BJ has any sense, he'll postpone it as we don't want to give the economy yet another shock come Xmas.... but he doesn't...
Have barely seen him recently. Strange that he isn't on TV every day reassuring people...after all he sees himself as a Churchill figure..

AndrewD

7,527 posts

283 months

Sunday 15th March 2020
quotequote all
HokumPokum said:
people need to understand that China being on top of the virus and starting production plus the west starting lockdown is very positive news.

Also that a vaccine is being trialed and could be in production in months is very positive plus the central banks are throwing money at the situation plus interest rates in the U.S going to zero very very soon changes how people think.


In a world where FOMO and zero rates, you think you want to sit on money especially if the biggest manufacturer of the world is back in production, you are then not forecasting that fact that it is flu-like. ie this will pass. LOOK AT CHINA, SOUTH KOREA


Sure you could miss the first 5% of jump back, but these things have a habit of moving back fast too.


It is easy to doom and gloom everything, it actually takes courage and clarity of mind to go the other way.
Quite a big difference between a drug being in clinical trials to it being available to patients.

The reality is, we won’t be back to “normal” until there is a vaccine. This virus won’t go away, it’s here to stay and we need to add it to the list of things we get injections against.

Until then I guess we go through the phases of containment etc to manage the load on the health systems.

Very strange times.

SVJBalboni

479 posts

53 months

Sunday 15th March 2020
quotequote all
AndrewD said:
Quite a big difference between a drug being in clinical trials to it being available to patients.

The reality is, we won’t be back to “normal” until there is a vaccine. This virus won’t go away, it’s here to stay and we need to add it to the list of things we get injections against.

Until then I guess we go through the phases of containment etc to manage the load on the health systems.

Very strange times.
The fear of the unknown is worst than the actual virus. It's human nature, we need to be told everything is fine, everything is under control. Right now there's not much information coming out about the virus so there's panic. Once we get a better understanding you'll see things return to normal.

Penrhyn

658 posts

97 months

Sunday 15th March 2020
quotequote all
Unfortunately even if a vaccine is found, trials need to be done on rats and then humans to ensure it really works.Well thats our current rules on new medication.

An additional issue is that we have only small production facilities for vaccine production, we get flu vaccine from Belgium.

MingtheMerciless

414 posts

208 months

Sunday 15th March 2020
quotequote all
If anyone has a distress Speciale to offload I am there for you. I will fit it with a .30 cal mount and use it as my Mad Max Apocalypse ride.

RDMcG

19,096 posts

206 months

Monday 16th March 2020
quotequote all
Cheib said:
Each to their own but I am genuinely staggered that people think this is going to be a one or two month issue and things will be on the way up by the beginning of summer.
Agree completely.

Right now I am assuming that we are in for a major recession and unknown progress of this virus. Where I live in Canada, ( we are a couple of weeks behind the curve), there is a very noticeable slowdown, services being cut, panic buying, the lot...same as everywhere else. How it will be when the spread accelerates is anybody's guess.

AndrewD

7,527 posts

283 months

Monday 16th March 2020
quotequote all
Penrhyn said:
Unfortunately even if a vaccine is found, trials need to be done on rats and then humans to ensure it really works.Well thats our current rules on new medication.

An additional issue is that we have only small production facilities for vaccine production, we get flu vaccine from Belgium.
Well that’s a bit of a simplification.
If a drug is already used for another indication, so you are re-purposing it for Covid19, then it would already have been shown to be safe in humans so you wouldn’t need the safety study.
I believe Gilead’s trials are already underway in humans, for example.

Larry5.2

496 posts

107 months

Monday 16th March 2020
quotequote all
MingtheMerciless said:
If anyone has a distress Speciale to offload I am there for you. I will fit it with a .30 cal mount and use it as my Mad Max Apocalypse ride.
rofl

mike01606

531 posts

148 months

Monday 16th March 2020
quotequote all
AndrewD said:
Well that’s a bit of a simplification.
If a drug is already used for another indication, so you are re-purposing it for Covid19, then it would already have been shown to be safe in humans so you wouldn’t need the safety study.
I believe Gilead’s trials are already underway in humans, for example.
Continuing O/T smile

Gilead's drug is an anti-viral not a vaccine i.e it treats the symptoms/severity and not preventative ... It has shown some activity in very ill Covid 19 patients and could be rapidly scaled up like Tamiflu was for H5N1 if the supply chain remains intact. It could cut only the serious illness/death rate as opposed to the infection rate which would still be tremendous, particularly in the peak.

A vaccine is at least 12-18 months away and would still require some serious resources/corner cutting to meet that timeline. The UK still does manufacture flu vaccines. Next winters flu vaccine will already be in safety testing and manufactured through the summer for the 20/21 flu season.


anonymous-user

53 months

Monday 16th March 2020
quotequote all
People panic buy on Christmas Eve because the shops close for one day so I wouldn't use the current panic buying a sign of doom and gloom.