New car prices getting out of hand
Discussion
What’s going on with new car prices at the moment?
I noticed the following stock prices:
Audi RS3 (£53k)
BMW M3 (£80k)
BMW M2 (£61k)
Merc A45 (£63k)
It seems that either we as a country are losing pace with the rest of the world in terms of earnings, or the market for cars is out of step with earnings. I mean even a Kia EV is now about £62k base.
Who can afford these cars?
I noticed the following stock prices:
Audi RS3 (£53k)
BMW M3 (£80k)
BMW M2 (£61k)
Merc A45 (£63k)
It seems that either we as a country are losing pace with the rest of the world in terms of earnings, or the market for cars is out of step with earnings. I mean even a Kia EV is now about £62k base.
Who can afford these cars?
Over the next few years we are probably going to find out “who can afford” such cars.
Tbh there’s nothing on that list that I’d want to purchase. Then again I’m probably not the target demographic for these sorts of cars anymore.
I’d much rather blow that sort of money on something far more interesting. Maybe a Lotus Exige of some sort, Porsche 997, Audi R8 V10 or even a AMG GT.
Tbh there’s nothing on that list that I’d want to purchase. Then again I’m probably not the target demographic for these sorts of cars anymore.
I’d much rather blow that sort of money on something far more interesting. Maybe a Lotus Exige of some sort, Porsche 997, Audi R8 V10 or even a AMG GT.
maz8062 said:
It seems that either we as a country are losing pace with the rest of the world in terms of earnings, or the market for cars is out of step with earnings. I mean even a Kia EV is now about £62k base.
Are we though and aren't cars similarly expensive elsewhere in Europe?Last time I bought a brand new car was in 2002, looking at the prices now it is pretty certain I will never buy another one in my lifetime.
With no new ICE cars being sold after 2030, I wonder what will happen to the prices of the remaining ICE cars?
Is it going to be like all other technologies, Cassette to CD, VHS to DVD to BlueRay to Streaming, brick mobile phones to Nokia to blackberry to smartphones that the phasing out of the old technology is seemless?
Or is it going to be a haves and have not situation where the rich are driving around in EVs and the poor are scrabbling around for the remaining ICE vehicles and people start hording them and the spare parts?
With no new ICE cars being sold after 2030, I wonder what will happen to the prices of the remaining ICE cars?
Is it going to be like all other technologies, Cassette to CD, VHS to DVD to BlueRay to Streaming, brick mobile phones to Nokia to blackberry to smartphones that the phasing out of the old technology is seemless?
Or is it going to be a haves and have not situation where the rich are driving around in EVs and the poor are scrabbling around for the remaining ICE vehicles and people start hording them and the spare parts?
Joey Deacon said:
Last time I bought a brand new car was in 2002, looking at the prices now it is pretty certain I will never buy another one in my lifetime.
With no new ICE cars being sold after 2030, I wonder what will happen to the prices of the remaining ICE cars?
Is it going to be like all other technologies, Cassette to CD, VHS to DVD to BlueRay to Streaming, brick mobile phones to Nokia to blackberry to smartphones that the phasing out of the old technology is seemless?
Or is it going to be a haves and have not situation where the rich are driving around in EVs and the poor are scrabbling around for the remaining ICE vehicles and people start hording them and the spare parts?
… “ Is it going to be like all other technologies, Cassette to CD, VHS to DVD to BlueRay to Streaming, brick mobile phones to Nokia to blackberry to smartphones that the phasing out of the old technology is seamless?”With no new ICE cars being sold after 2030, I wonder what will happen to the prices of the remaining ICE cars?
Is it going to be like all other technologies, Cassette to CD, VHS to DVD to BlueRay to Streaming, brick mobile phones to Nokia to blackberry to smartphones that the phasing out of the old technology is seemless?
Or is it going to be a haves and have not situation where the rich are driving around in EVs and the poor are scrabbling around for the remaining ICE vehicles and people start hording them and the spare parts?
Or like vinyl - very collectible?
Pica-Pica said:
… “ Is it going to be like all other technologies, Cassette to CD, VHS to DVD to BlueRay to Streaming, brick mobile phones to Nokia to blackberry to smartphones that the phasing out of the old technology is seamless?”
Or like vinyl - very collectible?
Vinyl is collectable at the moment, but I can't see that carrying on for ever. Or like vinyl - very collectible?
There's nothing wrong with the New Car prices. They've gone up accordingly with inflation over the years. I'm sure Autotrader did something on this or some other mag about car prices actually costing the same as they did in the 90s.
The issue is that wages haven't gone up in-line with those prices as such. That's the issue. The average salary outside of London is £25k-£27k, which you factor in usually half of that goes on a mortgage or rent these days. This is the underlaying issue because everything keeps going up but our wages aren't matching it. So unless you have relatively low mortgage or rent payments then you aren't getting a new car or nearly new. Only the rich can afford to buy them or you save up for a good few years then buy one.
The issue is that wages haven't gone up in-line with those prices as such. That's the issue. The average salary outside of London is £25k-£27k, which you factor in usually half of that goes on a mortgage or rent these days. This is the underlaying issue because everything keeps going up but our wages aren't matching it. So unless you have relatively low mortgage or rent payments then you aren't getting a new car or nearly new. Only the rich can afford to buy them or you save up for a good few years then buy one.
maz8062 said:
What’s going on with new car prices at the moment?
I noticed the following stock prices:
Audi RS3 (£53k)
BMW M3 (£80k)
BMW M2 (£61k)
Merc A45 (£63k)
It seems that either we as a country are losing pace with the rest of the world in terms of earnings, or the market for cars is out of step with earnings. I mean even a Kia EV is now about £62k base.
Who can afford these cars?
It's not the only factor but we're a low wage society, massively behind the likes of the US, while being taxed more. I noticed the following stock prices:
Audi RS3 (£53k)
BMW M3 (£80k)
BMW M2 (£61k)
Merc A45 (£63k)
It seems that either we as a country are losing pace with the rest of the world in terms of earnings, or the market for cars is out of step with earnings. I mean even a Kia EV is now about £62k base.
Who can afford these cars?
maz8062 said:
What’s going on with new car prices at the moment?
I noticed the following stock prices:
Audi RS3 (£53k)
BMW M3 (£80k)
BMW M2 (£61k)
Merc A45 (£63k)
It seems that either we as a country are losing pace with the rest of the world in terms of earnings, or the market for cars is out of step with earnings. I mean even a Kia EV is now about £62k base.
Who can afford these cars?
You'll sI noticed the following stock prices:
Audi RS3 (£53k)
BMW M3 (£80k)
BMW M2 (£61k)
Merc A45 (£63k)
It seems that either we as a country are losing pace with the rest of the world in terms of earnings, or the market for cars is out of step with earnings. I mean even a Kia EV is now about £62k base.
Who can afford these cars?
t your pants when you look at the prices of cars in Europe then...the UK has enjoyed cheap car prices for years.According to the leading experts on PH car prices are about to tank downwards..............in reality......we'll see more posts like this.
An A45 for £63k? Wtf
Timely article. They are betting demand is still there. As the recession bites in 2023 they're going to be in for a surprise.
New car sales at lowest level in 30 years
https://www.bbc.co.uk/news/business-64165689.amp
Timely article. They are betting demand is still there. As the recession bites in 2023 they're going to be in for a surprise.
New car sales at lowest level in 30 years
https://www.bbc.co.uk/news/business-64165689.amp
Edited by silent ninja on Friday 6th January 12:19
maz8062 said:
What’s going on with new car prices at the moment?
I noticed the following stock prices:
Audi RS3 (£53k)
BMW M3 (£80k)
BMW M2 (£61k)
Merc A45 (£63k)
It seems that either we as a country are losing pace with the rest of the world in terms of earnings, or the market for cars is out of step with earnings. I mean even a Kia EV is now about £62k base.
Who can afford these cars?
But nobody pays these prices do they? It's all on credit, so only monthlies matter. I noticed the following stock prices:
Audi RS3 (£53k)
BMW M3 (£80k)
BMW M2 (£61k)
Merc A45 (£63k)
It seems that either we as a country are losing pace with the rest of the world in terms of earnings, or the market for cars is out of step with earnings. I mean even a Kia EV is now about £62k base.
Who can afford these cars?
Interestingly in 1998 I bought a Merc CLK 320 new ... it was the equivalent of 76k at todays prices. I think I'd comfortably get into a C class coupe for that money today.
LHRFlightman said:
These will be much more affordable in a year or two as the PM has promised us a high skill, high wage economy.
What is actually happening is that our wages are being left behind. But we can't address that because 'inflation'.
No, asking for higher wages is immoral and you're not doing your part for the country and economy according to the Bank of England, Andrew Bailey. What is actually happening is that our wages are being left behind. But we can't address that because 'inflation'.
However, disproportionate and oversized profits for a continuously long period of time by corporations is fine. And if they struggle, we give them free cash (energy, railways, banks and so on). And we make life easy with plenty of tax breaks.
You need to understand who the BoE serves and who the government serve. It ain't you and me.
maz8062 said:
What’s going on with new car prices at the moment?
I noticed the following stock prices:
Audi RS3 (£53k)
BMW M3 (£80k)
BMW M2 (£61k)
Merc A45 (£63k)
It seems that either we as a country are losing pace with the rest of the world in terms of earnings, or the market for cars is out of step with earnings. I mean even a Kia EV is now about £62k base.
Who can afford these cars?
I do understand however, a 2014/2015 M3 was £58k when it was new, accounting for inflation it's not far off?I noticed the following stock prices:
Audi RS3 (£53k)
BMW M3 (£80k)
BMW M2 (£61k)
Merc A45 (£63k)
It seems that either we as a country are losing pace with the rest of the world in terms of earnings, or the market for cars is out of step with earnings. I mean even a Kia EV is now about £62k base.
Who can afford these cars?
Makes the M2 look somewhat of a bargain!
The other issue is, list price is largely irrelevant in most cases as so many people use financing options.
So a £50k car may only actually cost you £350 a month, for example.
You may also say that manufacturers are artificially pricing their cars so high to push financing.
£50k upfront or you can use the car for £350 a month? It's pretty obvious which one most people would take.
The other thing is that cars these days have so many more features and functions than previous models. Lane keeping assist, adaptive cruise, car play, reversing camera etc.
iphonedyou said:
Link to a 50k car which costs £350 / PCM to use?
Plenty of lease deals out and around.The prices may or may not be EXACT but it's a rough indication in a discussion, not a factual statement in a legal debate.
I'm sure you full well knew what I was getting at.
Enjoy your internet victory. You can waste your time searching if you'd like
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