Will Corona effect the Supercar Market

Will Corona effect the Supercar Market

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Discussion

footsoldier

2,251 posts

191 months

Monday 6th July 2020
quotequote all
Ferruccio said:
Cheib said:
Three months ago people were saying older cars will be fine and the new stuff is where the trouble will be!
Most people are wrong, most of the time.....................??
It's quite specific as far as I can see. Some older cars (stalwarts) selling well enough, anything more unusual not selling at all.
Newer stuff such as Porsche GT cars has definitely picked up. Ferraris suffering, esp V12, and you can buy quite far below asking.

anonymous-user

53 months

Friday 10th July 2020
quotequote all
Could this be why there has been a spike in supercar sales?

“ Bounce Back loans to keep small businesses afloat in the coronavirus crisis are being splashed out on supercars, motor industry insiders claim”

https://www.thisismoney.co.uk/money/cars/article-8...

sparta6

3,689 posts

99 months

Friday 10th July 2020
quotequote all
hornbaek said:
unrestricted autobahns and free to enter city centers will belong to a bygone era.
Sad and true.

Mayor Khan has already stabbed his knife into London motorists.

Nevertheless he gets a chauffeur driven & bullet proof Range Rover through town.

The hypocrite must've upset somebody

So

26,271 posts

221 months

Friday 10th July 2020
quotequote all
MAC 720S said:
Could this be why there has been a spike in supercar sales?

“ Bounce Back loans to keep small businesses afloat in the coronavirus crisis are being splashed out on supercars, motor industry insiders claim”

https://www.thisismoney.co.uk/money/cars/article-8...
That is a 3-week old article, which was a rehash of a previous article, which was as much bks as the rehash,

WilliamWaiver

439 posts

44 months

Friday 10th July 2020
quotequote all
MAC 720S said:
Could this be why there has been a spike in supercar sales?

“ Bounce Back loans to keep small businesses afloat in the coronavirus crisis are being splashed out on supercars, motor industry insiders claim”

https://www.thisismoney.co.uk/money/cars/article-8...
I don't want to be tarred with that brush. I've had to work bl00dy hard to own my 3, bl00dy hard. Tax man has made a fortune out of me and I've not had a penny in return

Saweep

6,593 posts

185 months

Friday 10th July 2020
quotequote all
WilliamWaiver said:
MAC 720S said:
Could this be why there has been a spike in supercar sales?

“ Bounce Back loans to keep small businesses afloat in the coronavirus crisis are being splashed out on supercars, motor industry insiders claim”

https://www.thisismoney.co.uk/money/cars/article-8...
I don't want to be tarred with that brush. I've had to work bl00dy hard to own my 3, bl00dy hard. Tax man has made a fortune out of me and I've not had a penny in return
They aren't grants.

Broshnat

50 posts

155 months

Saturday 11th July 2020
quotequote all
sparta6 said:
Sad and true.

Mayor Khan has already stabbed his knife into London motorists.

Nevertheless he gets a chauffeur driven & bullet proof Range Rover through town.

The hypocrite must've upset somebody
Amen to that

Cheib

23,067 posts

174 months

Saturday 11th July 2020
quotequote all
Interesting to me that we’re hearing and seeing lots of cars leaving car forecourts right now/ record sales months and then just saw this pop up on Insta. Pista below list.

https://www.instagram.com/p/CCeMKGlF4YN/?utm_sourc...

OldAndTired

370 posts

44 months

Saturday 11th July 2020
quotequote all
The short term pop up in prices is exactly to be expected. It does not change the fundamental economic picture which points to a depression. Or at the very least the worst recession in history.

We cannot hide from the massive debt governments world wide have taken on.

Ironically “cash flow rich“ people have saved money during the lockdown. They aren’t going to take their vacations, they aren’t eating out,etc. They are using those savings to upgrade their cars.

It’s anecdotal but my parents-in-law just appeared unannounced in a new convertible sports car. They traded in their SUV. They are also going to trade in their small car to buy a new SUV.

They usually go on 5 holidays a year. All cancelled. So they spent it on cars instead.

The main dealer said business is booming - BUT - 50% of our staff are being let go in the next few weeks.

This is a short term liquidity spike In spending which is unsustainable.

Once the furlough is over all bets are off.

Larry5.2

496 posts

107 months

Saturday 11th July 2020
quotequote all
I'll wager there's a few unexpected inheritances being spent too...

av185

18,386 posts

126 months

Saturday 11th July 2020
quotequote all
Cheib said:
Interesting to me that we’re hearing and seeing lots of cars leaving car forecourts right now/ record sales months and then just saw this pop up on Insta. Pista below list.

https://www.instagram.com/p/CCeMKGlF4YN/?utm_sourc...
Wrong colour C.

Silver probably the worst Pista colour.

Ferruccio

1,832 posts

118 months

Saturday 11th July 2020
quotequote all
Larry5.2 said:
I'll wager there's a few unexpected inheritances being spent too...
On Niall Ferguson’s Imperial modelling, 2/3 of CV deaths would have died in the next 9 months in any event.
65,000 additional deaths vs an annual total of around 650,000.
That doesn’t change the market.

WilliamWaiver

439 posts

44 months

Saturday 11th July 2020
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av185 said:
Wrong colour C.

Silver probably the worst Pista colour.
I quite like that for a change, think it shows off the lines nicely but as you say its not a favoured ferrari colour

Cheib

23,067 posts

174 months

Saturday 11th July 2020
quotequote all
av185 said:
Cheib said:
Interesting to me that we’re hearing and seeing lots of cars leaving car forecourts right now/ record sales months and then just saw this pop up on Insta. Pista below list.

https://www.instagram.com/p/CCeMKGlF4YN/?utm_sourc...
Wrong colour C.

Silver probably the worst Pista colour.
You learn something new every day! I wouldn’t kick it out of bed personally....

WilliamWaiver

439 posts

44 months

Saturday 11th July 2020
quotequote all
Cheib said:
You learn something new every day! I wouldn’t kick it out of bed personally....
If its not resale red its a bad colour no matter how good it might look.

Standard ferrari dealer phrase come px will be its not the best colour for a ferrari and straight away its worth £10k less.
Personally I like both yellow and white but you just know that the above will apply

hunter 66

3,881 posts

219 months

Saturday 11th July 2020
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Mate who sees Porsche GT product PX a Scud and it sold in a Day .... and it is white !!! Strong market it appears

SSO

1,386 posts

190 months

Sunday 11th October 2020
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I just posted an update on the Supercar market coming out of Q3. Now that summer is over, it will be interesting to see if the market holds.

Cheib

23,067 posts

174 months

Sunday 11th October 2020
quotequote all
Very good it is too

https://karenable.com/supercar-market-update-q3-20...

I think your summary in the last paragraph hits the nail on the head....the summer shutdown allowed inventory to clear and created a pent up demand for cars in all price brackets both new and used. There are already signs in the used car adverts to me at least that we’re in for a long winter....nearly 20 992 Turbo S’s in the classifieds, a car which has only been out for a three or four months, is delivered in relatively low numbers and has had rave reviews. Normally there would only be a handful for sale by now

LaurasOtherHalf

21,429 posts

195 months

Sunday 11th October 2020
quotequote all
Without naming names, I've been looking at certain Porsche GT models and anything that sells is generally £10k under the asking price or at least 15% less.

Pvapour

8,981 posts

252 months

Sunday 11th October 2020
quotequote all
I’ve been staying in contact with 5 (Uk) Bentley dealers on a used mk3 gtc (also 2 in Europe)

No movement whatsoever March - August, Start of sept saw 10% offering, start ofOct another 5% and now a further 5% (on average).

There is obviously some seasonal changes in there due to open top but the rest is significant, just before Xmas may well see them at the price I think is right.