Will Corona effect the Supercar Market

Will Corona effect the Supercar Market

Author
Discussion

ghost83

5,474 posts

189 months

Friday 22nd May 2020
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SSO said:
Similar article covering the McLarens just posted.
Yep was a good read,

paddy1970

687 posts

108 months

Sunday 24th May 2020
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Ok, I have looked at the selling price of the following cars (mileage<100k, more than 5 new listings or modified listings in the last week on autotrader) and it seems that there has been a drop of -4.1% in selling price from last week.



Edited by paddy1970 on Sunday 24th May 17:27

Saweep

6,593 posts

185 months

Sunday 24th May 2020
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paddy1970 said:
Ok, I have looked at the selling price of the following cars (mileage<100k, more than 5 new listings or modified listings in the last week on autotrader) and it seems that there has been a drop of -4.1% in selling price from last week.



Edited by paddy1970 on Sunday 24th May 17:27
That's a lot in a week.

Regy53

260 posts

130 months

Sunday 24th May 2020
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paddy1970 said:
Ok, I have looked at the selling price of the following cars (mileage<100k, more than 5 new listings or modified listings in the last week on autotrader) and it seems that there has been a drop of -4.1% in selling price from last week.



Edited by paddy1970 on Sunday 24th May 17:27
how do you get this info, is it a report or made by yourself?

dmahon

2,717 posts

63 months

Sunday 24th May 2020
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Good report. Could you include Ferrari 458 and 488 if you have the data?

SVJBalboni

477 posts

53 months

Sunday 24th May 2020
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I expect Pista's to drop further. Ferrari built too many of them so collectability status is out the window.

Cheib

23,067 posts

174 months

Sunday 24th May 2020
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Interesting though I think it’ll be end of June when we really start to see prices move....seems like most big franchised dealers will be back operating next month. My guess is they’ll see how the market is once they are back open (whatever that looks like) and then end of the month start re-pricing. Can’t see them walking in the door and reducing prices straight away

Taffy66

5,964 posts

101 months

Sunday 24th May 2020
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Cheib said:
Interesting though I think it’ll be end of June when we really start to see prices move....seems like most big franchised dealers will be back operating next month. My guess is they’ll see how the market is once they are back open (whatever that looks like) and then end of the month start re-pricing. Can’t see them walking in the door and reducing prices straight away
Most likely scenario...I'm holding out to see how things pans out however if there is an almighty crash then there will be plenty of people including me snapping up car bargains.

SVJBalboni

477 posts

53 months

Sunday 24th May 2020
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Prices will tumble as inventories start to increase and add in private sellers who can't trade or sell their cars to dealers.

I've been following SVJ/SV prices and I'm noticing SVJ prices are dropping fast but still a ways off from hitting 300. I reckon my car will lose around 80k maybe more if I were to trade it in assuming a dealer would take it in. SV coupes seem to have bottomed out around 250ish. Lets see what happens in the coming months.

paddy1970

687 posts

108 months

Monday 25th May 2020
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Regy53 said:
how do you get this info, is it a report or made by yourself?
I made it myself. I will try to update it on a weekly basis.

paddy1970

687 posts

108 months

Monday 25th May 2020
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dmahon said:
Good report. Could you include Ferrari 458 and 488 if you have the data?
Not enough data to be meaningful. I only included cars that have more than 5 new or modified listings.

Auto810graphy

1,351 posts

91 months

Monday 25th May 2020
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Taffy66 said:
Most likely scenario...I'm holding out to see how things pans out however if there is an almighty crash then there will be plenty of people including me snapping up car bargains.
There are a lot of people in this situation which could slow any major price adjustments.

Turbo cab

1,601 posts

231 months

Monday 25th May 2020
quotequote all
Taffy66 said:
Cheib said:
Interesting though I think it’ll be end of June when we really start to see prices move....seems like most big franchised dealers will be back operating next month. My guess is they’ll see how the market is once they are back open (whatever that looks like) and then end of the month start re-pricing. Can’t see them walking in the door and reducing prices straight away
Most likely scenario...I'm holding out to see how things pans out however if there is an almighty crash then there will be plenty of people including me snapping up car bargains.
Most high end car dealers have still been opperating throughout lockdown and some prices have been adjusted accordingly, it was only last week my SVJ roadster was sold through one of them, an 8 month old car with delivery mileage. Yes I took a substantial hit but I feel I was was lucky to get out of it given how many the're making and the discounts I've heard that are now available due to people walking away from their orders.

Cheib

23,067 posts

174 months

Monday 25th May 2020
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Turbo cab said:
Taffy66 said:
Cheib said:
Interesting though I think it’ll be end of June when we really start to see prices move....seems like most big franchised dealers will be back operating next month. My guess is they’ll see how the market is once they are back open (whatever that looks like) and then end of the month start re-pricing. Can’t see them walking in the door and reducing prices straight away
Most likely scenario...I'm holding out to see how things pans out however if there is an almighty crash then there will be plenty of people including me snapping up car bargains.
Most high end car dealers have still been opperating throughout lockdown and some prices have been adjusted accordingly, it was only last week my SVJ roadster was sold through one of them, an 8 month old car with delivery mileage. Yes I took a substantial hit but I feel I was was lucky to get out of it given how many the're making and the discounts I've heard that are now available due to people walking away from their orders.
I think that was a very sensible move and yes I agree that the high end dealers have been open but I think the main dealer groups have been largely shut. Sytner owned dealers across all brands have been shut for example...with maybe a skeleton staff back now.

andy97

4,690 posts

221 months

Tuesday 26th May 2020
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Petrus1983

8,443 posts

161 months

Monday 1st June 2020
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I’m hearing about some very strong sales in the 2nd hand supercar market today.

SSO

1,386 posts

190 months

Monday 1st June 2020
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Petrus1983 said:
I’m hearing about some very strong sales in the 2nd hand supercar market today.
I just posted an article updating Aston, Ferrari, and McLaren's business results and situation. It's not at all pretty.

Regy53

260 posts

130 months

Monday 1st June 2020
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ferraris i was looking at have sold after being on the market since feb...

Petrus1983

8,443 posts

161 months

Monday 1st June 2020
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SSO said:
Petrus1983 said:
I’m hearing about some very strong sales in the 2nd hand supercar market today.
I just posted an article updating Aston, Ferrari, and McLaren's business results and situation. It's not at all pretty.
That’s the overall businesses- I said 2nd hand and so far have seen a Senna and a 918 leave the market at strong prices today.