Will Corona effect the Supercar Market

Will Corona effect the Supercar Market

Author
Discussion

bobhitch

4 posts

17 months

Tuesday 2nd June
quotequote all
Saweep said:
I've been trying to get back into another Ferrari for the last few days.

My Bentley has just been decimated. Trade bids 20k less than pre lockdown. It's making paying non adjusted list a bitter pill to swallow and I don't think I can stomach it.

The dealers all seem super busy though tbh.
Are you surprised? - dealers are going to use this as much to their advantage as possible -that's business
They will offer low citing the CV19 effect and downturn in the economy on your 'undesirable' car and then in the next breath tell you they can't offer you a reduction on other inventory because 'the market is buoyant' and 'they ,coincidentally ,already have 2 firm offers on the very car you are interested in so you'd better snap it up now or you will miss it'

hasn't it always been thus?


Pvapour

8,879 posts

209 months

Tuesday 2nd June
quotequote all
Saweep said:
I've been trying to get back into another Ferrari for the last few days.

My Bentley has just been decimated. Trade bids 20k less than pre lockdown. It's making paying non adjusted list a bitter pill to swallow and I don't think I can stomach it.

The dealers all seem super busy though tbh.
Is it a gen3 by chance?

Argleton

3,993 posts

54 months

Tuesday 2nd June
quotequote all
bobhitch said:
Saweep said:
I've been trying to get back into another Ferrari for the last few days.

My Bentley has just been decimated. Trade bids 20k less than pre lockdown. It's making paying non adjusted list a bitter pill to swallow and I don't think I can stomach it.

The dealers all seem super busy though tbh.
Are you surprised? - dealers are going to use this as much to their advantage as possible -that's business
They will offer low citing the CV19 effect and downturn in the economy on your 'undesirable' car and then in the next breath tell you they can't offer you a reduction on other inventory because 'the market is buoyant' and 'they ,coincidentally ,already have 2 firm offers on the very car you are interested in so you'd better snap it up now or you will miss it'

hasn't it always been thus?
The best car is always the one you happen to have in stock. The worst is the one the customer wants you to take in.

Chapter 1, verse 1 on Bullst Car Dealer Manual.

Saweep

5,244 posts

142 months

Tuesday 2nd June
quotequote all
Pvapour said:
Saweep said:
I've been trying to get back into another Ferrari for the last few days.

My Bentley has just been decimated. Trade bids 20k less than pre lockdown. It's making paying non adjusted list a bitter pill to swallow and I don't think I can stomach it.

The dealers all seem super busy though tbh.
Is it a gen3 by chance?
Gen 3?

It's a 1 year old Bentayga.

And to the others who have commented, I always knew I was gonna get beaten on the value. It's the price of admission to this insane addiction called cars!

GT4RS

2,371 posts

153 months

Tuesday 2nd June
quotequote all
Saweep said:
I've been trying to get back into another Ferrari for the last few days.

My Bentley has just been decimated. Trade bids 20k less than pre lockdown. It's making paying non adjusted list a bitter pill to swallow and I don't think I can stomach it.

The dealers all seem super busy though tbh.
They’re only busy as 99% of their staff are furloughed. Bring the staff back and I’m sure it will be a different situation!

Cheib

18,983 posts

131 months

Tuesday 2nd June
quotequote all
markst said:
I hate to say it....but I agree, if you are going to try and sell its now - still early summer, the weathers great, not that many people have really grasped whats happened and the governments throwing money around.

...I want another Ferrari , but i'm sitting it out until October …..they wont be going up and the risk is all to the downside.
As I posted in another thread come October the market is normally soft but this year we’ll hear Furlough running off so economic uncertainty and I think there will be genuine concern about what winter will bring in terms of Covid.

easytiger123

2,108 posts

165 months

Wednesday 3rd June
quotequote all
I have to say I am very surprised at both the number of high-end cars now being bought, and in particular the prices being paid. Looks like dealers have been shifting stuff that had been sitting around for a fair while pre-Covid at prices pretty close to asking. I kind of understand there's some pent-up demand after nearly 3 months of people barely spending any money, and obviously some people will have prospered during lockdown if they are in the right business, but I still don't really get it as far as the run-of-the-mill supercars are concerned.

Pvapour

8,879 posts

209 months

Wednesday 3rd June
quotequote all
Saweep said:
Pvapour said:
Saweep said:
I've been trying to get back into another Ferrari for the last few days.

My Bentley has just been decimated. Trade bids 20k less than pre lockdown. It's making paying non adjusted list a bitter pill to swallow and I don't think I can stomach it.

The dealers all seem super busy though tbh.
Is it a gen3 by chance?
Gen 3?

It's a 1 year old Bentayga.

And to the others who have commented, I always knew I was gonna get beaten on the value. It's the price of admission to this insane addiction called cars!
Ah Ok, no, i’m after a gen3 conti.

good luck with Selling it though smile

Cheib

18,983 posts

131 months

Wednesday 3rd June
quotequote all
easytiger123 said:
I have to say I am very surprised at both the number of high-end cars now being bought, and in particular the prices being paid. Looks like dealers have been shifting stuff that had been sitting around for a fair while pre-Covid at prices pretty close to asking. I kind of understand there's some pent-up demand after nearly 3 months of people barely spending any money, and obviously some people will have prospered during lockdown if they are in the right business, but I still don't really get it as far as the run-of-the-mill supercars are concerned.
I suppose the question is whether it is pretty close to asking or they’ve done deals to get stock shifted....Romans posted they’d sold 8 cars yesterday...I doubt some of those were very close to asking. My guess is on the Senna someone’s bid that was previously unacceptable suddenly looked more realistic...I don’t think anyone buying a Senna wouldn’t know how they’ve been trading for the last few months and would suddenly pay close to list. Different car but the Macan Turbo has been up for sale for six months and has always looked expensive as Porsche dealers have got a lot of cars sitting around...they specced it themselves as a stock car. Can’t believe they didn’t reduce that to get it sold straight after they open....they are only going one way.

I spoke to a different dealer a couple of weeks ago...they have sold a few cars during lockdown it’s been at 10% to 15% below asking prices pre Covid. Much easier reducing prices as a dealer when it’s not your money ! They’re not reducing advertised prices by that much though....that’s not good for business.

So

18,740 posts

178 months

Wednesday 3rd June
quotequote all
Saweep said:
Pvapour said:
Saweep said:
I've been trying to get back into another Ferrari for the last few days.

My Bentley has just been decimated. Trade bids 20k less than pre lockdown. It's making paying non adjusted list a bitter pill to swallow and I don't think I can stomach it.

The dealers all seem super busy though tbh.
Is it a gen3 by chance?
Gen 3?

It's a 1 year old Bentayga.

And to the others who have commented, I always knew I was gonna get beaten on the value. It's the price of admission to this insane addiction called cars!
I would not be surprised if Bentaygas tell a story of rapid depreciation to very low numbers. It seems to me that they are desirable only when new (and then only to some people). They are one ugly mofo of a vehicle and will find few buyers who want them because they are such a beautiful thing. All the while they will remain an expensive beast to keep.

My casual observation is that right now high end "summer" cars are selling. I don't think the Bentayga qualifies for that. Come the autumn, there will be fewer buyers for sports and convertible cars, but will people be buying big 'ol luxury SUVs? Maybe, but it's about the time that the economic st will be hitting the fan, which may have a negative impact.

The above may sound like I am criticising your buying decision, and I am really not. But given that car dealerships are far from stupid, I am not surprised that they are filling the bath for you.








Saweep

5,244 posts

142 months

Wednesday 3rd June
quotequote all
So said:
Saweep said:
Pvapour said:
Saweep said:
I've been trying to get back into another Ferrari for the last few days.

My Bentley has just been decimated. Trade bids 20k less than pre lockdown. It's making paying non adjusted list a bitter pill to swallow and I don't think I can stomach it.

The dealers all seem super busy though tbh.
Is it a gen3 by chance?
Gen 3?

It's a 1 year old Bentayga.

And to the others who have commented, I always knew I was gonna get beaten on the value. It's the price of admission to this insane addiction called cars!
I would not be surprised if Bentaygas tell a story of rapid depreciation to very low numbers. It seems to me that they are desirable only when new (and then only to some people). They are one ugly mofo of a vehicle and will find few buyers who want them because they are such a beautiful thing. All the while they will remain an expensive beast to keep.

My casual observation is that right now high end "summer" cars are selling. I don't think the Bentayga qualifies for that. Come the autumn, there will be fewer buyers for sports and convertible cars, but will people be buying big 'ol luxury SUVs? Maybe, but it's about the time that the economic st will be hitting the fan, which may have a negative impact.

The above may sound like I am criticising your buying decision, and I am really not. But given that car dealerships are far from stupid, I am not surprised that they are filling the bath for you.
Oh I agree entirely.

It's now just a case of stick or twist...

Tough call...what would you do?

Pvapour

8,879 posts

209 months

Wednesday 3rd June
quotequote all
Saweep said:
So said:
Saweep said:
Pvapour said:
Saweep said:
I've been trying to get back into another Ferrari for the last few days.

My Bentley has just been decimated. Trade bids 20k less than pre lockdown. It's making paying non adjusted list a bitter pill to swallow and I don't think I can stomach it.

The dealers all seem super busy though tbh.
Is it a gen3 by chance?
Gen 3?

It's a 1 year old Bentayga.

And to the others who have commented, I always knew I was gonna get beaten on the value. It's the price of admission to this insane addiction called cars!
I would not be surprised if Bentaygas tell a story of rapid depreciation to very low numbers. It seems to me that they are desirable only when new (and then only to some people). They are one ugly mofo of a vehicle and will find few buyers who want them because they are such a beautiful thing. All the while they will remain an expensive beast to keep.

My casual observation is that right now high end "summer" cars are selling. I don't think the Bentayga qualifies for that. Come the autumn, there will be fewer buyers for sports and convertible cars, but will people be buying big 'ol luxury SUVs? Maybe, but it's about the time that the economic st will be hitting the fan, which may have a negative impact.

The above may sound like I am criticising your buying decision, and I am really not. But given that car dealerships are far from stupid, I am not surprised that they are filling the bath for you.
Oh I agree entirely.

It's now just a case of stick or twist...

Tough call...what would you do?
I would stick, I’ve said it before, but I think the demand for big luxury vehicles is going to increase as people with money realise their holiday options are now limited to driving through Europe, that or charter small jets in syndicates via fab groups at small airports to get distancing and lower risks.

So

18,740 posts

178 months

Wednesday 3rd June
quotequote all
Saweep said:
So said:
Saweep said:
Pvapour said:
Saweep said:
I've been trying to get back into another Ferrari for the last few days.

My Bentley has just been decimated. Trade bids 20k less than pre lockdown. It's making paying non adjusted list a bitter pill to swallow and I don't think I can stomach it.

The dealers all seem super busy though tbh.
Is it a gen3 by chance?
Gen 3?

It's a 1 year old Bentayga.

And to the others who have commented, I always knew I was gonna get beaten on the value. It's the price of admission to this insane addiction called cars!
I would not be surprised if Bentaygas tell a story of rapid depreciation to very low numbers. It seems to me that they are desirable only when new (and then only to some people). They are one ugly mofo of a vehicle and will find few buyers who want them because they are such a beautiful thing. All the while they will remain an expensive beast to keep.

My casual observation is that right now high end "summer" cars are selling. I don't think the Bentayga qualifies for that. Come the autumn, there will be fewer buyers for sports and convertible cars, but will people be buying big 'ol luxury SUVs? Maybe, but it's about the time that the economic st will be hitting the fan, which may have a negative impact.

The above may sound like I am criticising your buying decision, and I am really not. But given that car dealerships are far from stupid, I am not surprised that they are filling the bath for you.
Oh I agree entirely.

It's now just a case of stick or twist...

Tough call...what would you do?
I wouldn't have bought the fking thing in the first place. wink

But since you have. A loss is only a paper loss until its realised. If you can afford it, and have the space, I'd keep it and buy the Ferrari as well.[/man maths]

Just understand that you will then have one car which was always going to have ruinous depreciation and you've knowingly bought something else at the top of the market, probably.

So you can crystalise a loss and knowingly buy something else that you'll probably lose money on. Or have a paper loss and do the same.

It depends on a number of factors as to what the best choice is, doesn't it.

You could always keep the Bentayga, not buy the Ferrari but instead create a Beach Boys playlist. It will at least give you that summer vibe.




Cheib

18,983 posts

131 months

Wednesday 3rd June
quotequote all
Pvapour said:
I would stick, I’ve said it before, but I think the demand for big luxury vehicles is going to increase as people with money realise their holiday options are now limited to driving through Europe, that or charter small jets in syndicates via fab groups at small airports to get distancing and lower risks.
Don’t think chartering small jets is much of an option...I was talking to a friend last night who has a place in Portugal, normally spends the summer there. He’s thinking of going out there and could most definitely afford to charter a private jet if he felt so inclined....I asked and he said he had checked the price and it was ludicrous. Guessing they’ll be very, very expensive for the foreseeable !

Saweep

5,244 posts

142 months

Wednesday 3rd June
quotequote all
So said:
I wouldn't have bought the fking thing in the first place. wink

But since you have. A loss is only a paper loss until its realised. If you can afford it, and have the space, I'd keep it and buy the Ferrari as well.[/man maths]

Just understand that you will then have one car which was always going to have ruinous depreciation and you've knowingly bought something else at the top of the market, probably.

So you can crystalise a loss and knowingly buy something else that you'll probably lose money on. Or have a paper loss and do the same.

It depends on a number of factors as to what the best choice is, doesn't it.

You could always keep the Bentayga, not buy the Ferrari but instead create a Beach Boys playlist. It will at least give you that summer vibe.
rofl

Thanks for the advice biggrin

Pvapour

8,879 posts

209 months

Wednesday 3rd June
quotequote all
Cheib said:
Pvapour said:
I would stick, I’ve said it before, but I think the demand for big luxury vehicles is going to increase as people with money realise their holiday options are now limited to driving through Europe, that or charter small jets in syndicates via fab groups at small airports to get distancing and lower risks.
Don’t think chartering small jets is much of an option...I was talking to a friend last night who has a place in Portugal, normally spends the summer there. He’s thinking of going out there and could most definitely afford to charter a private jet if he felt so inclined....I asked and he said he had checked the price and it was ludicrous. Guessing they’ll be very, very expensive for the foreseeable !
From bergerac airport To Agadir (morroco) - 8 people - £13k return = £1600 each, we paid a fair bit more than that for business class to South Africa last year, granted it an 11hr flight as opposed to 3hr but i’d happily pay £1600 to get a clear airport (as they can schedule between other flights) and pretty comfy seats.

Heres some other examples

https://www.privatefly.com/private-jets/medium-jet...

Wouldnt take much to get 8 people together or even 12 if you wanted to get further away, plus because the plane is smaller you can fly direct to some of the more exotic locations..

So

18,740 posts

178 months

Wednesday 3rd June
quotequote all
Saweep said:
So said:
I wouldn't have bought the fking thing in the first place. wink

But since you have. A loss is only a paper loss until its realised. If you can afford it, and have the space, I'd keep it and buy the Ferrari as well.[/man maths]

Just understand that you will then have one car which was always going to have ruinous depreciation and you've knowingly bought something else at the top of the market, probably.

So you can crystalise a loss and knowingly buy something else that you'll probably lose money on. Or have a paper loss and do the same.

It depends on a number of factors as to what the best choice is, doesn't it.

You could always keep the Bentayga, not buy the Ferrari but instead create a Beach Boys playlist. It will at least give you that summer vibe.
rofl

Thanks for the advice biggrin
Any time. I am full of it.

You could always have the Beach Boys playing and cruise about with your ironing board strapped to the roof, for extra surfy summertimeness.


Cheib

18,983 posts

131 months

Wednesday 3rd June
quotequote all
Pvapour said:
Cheib said:
Pvapour said:
I would stick, I’ve said it before, but I think the demand for big luxury vehicles is going to increase as people with money realise their holiday options are now limited to driving through Europe, that or charter small jets in syndicates via fab groups at small airports to get distancing and lower risks.
Don’t think chartering small jets is much of an option...I was talking to a friend last night who has a place in Portugal, normally spends the summer there. He’s thinking of going out there and could most definitely afford to charter a private jet if he felt so inclined....I asked and he said he had checked the price and it was ludicrous. Guessing they’ll be very, very expensive for the foreseeable !
From bergerac airport To Agadir (morroco) - 8 people - £13k return = £1600 each, we paid a fair bit more than that for business class to South Africa last year, granted it an 11hr flight as opposed to 3hr but i’d happily pay £1600 to get a clear airport (as they can schedule between other flights) and pretty comfy seats.

Heres some other examples

https://www.privatefly.com/private-jets/medium-jet...

Wouldnt take much to get 8 people together or even 12 if you wanted to get further away, plus because the plane is smaller you can fly direct to some of the more exotic locations..
You’ve done that recently ? Seems very good value ! Those were the kind of prices I’d heard in the past before anyone had heard of Covid 19 !

garystoybox

367 posts

73 months

Wednesday 3rd June
quotequote all
Pvapour said:
I would stick, I’ve said it before, but I think the demand for big luxury vehicles is going to increase as people with money realise their holiday options are now limited to driving through Europe, that or charter small jets in syndicates via fab groups at small airports to get distancing and lower risks.
With what’s been going on I’m amazed at all this talk of ‘will I be able to get away in holiday this year for a couple of weeks‘. I can’t imagine why most people would want to.... trying to social distance, chill out/relaxing don’t go hand in hand. Surely just enjoy yourself at home and make the most of what you have on your doorstep and then hopefully next year we’ll have normality returning and you can then truly relax and enjoy travel/hols, etc. Think there’s a British obsession of must having a overseas holiday.
Regarding big luxury vehicles I cannot see any way their values will not continue to fall. Let’s pick the biggest depreciating type of car, add in a global recession, social and economic pressures, fear of huge unemployment and the threat of Covid second spike. I can’t see this adding up to prices for luxury vehicles increasing because you can drive them around Europe on your hols with a bunch of screaming brats in the back. It probably would be cheaper to hire a jet than stomach the depreciation on the car (unless you buy a 10 year old smoking S class).

Edited by garystoybox on Wednesday 3rd June 16:31

Pvapour

8,879 posts

209 months

Wednesday 3rd June
quotequote all
garystoybox said:
Pvapour said:
I would stick, I’ve said it before, but I think the demand for big luxury vehicles is going to increase as people with money realise their holiday options are now limited to driving through Europe, that or charter small jets in syndicates via fab groups at small airports to get distancing and lower risks.
With what’s been going on I’m amazed at all this talk of ‘will I be able to get away in holiday this year for a couple of weeks‘. I can’t imagine why most people would want to.... trying to social distance, chill out/relaxing don’t go hand in hand. Surely just enjoy yourself at home and make the most of what you have on your doorstep and then hopefully next year we’ll have normality returning and you can then truly relax and enjoy travel/hols, etc. Think there’s a British obsession of must having a overseas holiday.
Regarding big luxury vehicles I cannot see any way there values will not continue to fall. Let’s pick the biggest depreciating type of car, add in a global recession, social and economic pressures, fear of huge unemployment and the threat of Covid second spike. I can’t see this adding up to prices for luxury vehicles increasing because you can drive them around Europe on your hols with a bunch of screaming brats in the back. It probably would be cheaper to hire a jet than stomach the depreciation on the car (unless you buy a 10 year old smoking S class).
im speaking of the people not effected by the factors you mention who can happily drop cash on a 100k car, id wager the people im talking about dont have kids in tow either, maybe dogs in the back? We’re talking a minority of people but also luxury cars are a minority to, I think there will also be more business miles done in cars, maybe chauffeured instead of short hops across uk by plane, depends if airports sort themselves out though... all this being void if they do..

I think the UKs obsession (as you call it) with getting away is because the UK is so overcrowded wherever you go, people with money dont want that, the uk will have the same distancing regs as everywhere else in the world but id rather put up with them somewhere exotic instead of Skegness hehe i think the uk would be lovely if it had half the population, youve even had some decent weather of late..