Will the car market crash?
Discussion
ArthurLee said:
It really depends on what is causing the rise.
If its lack of supply due to production issues, i.e. wait times for new cars then once that is sorted out it will likely correct itself eventually but whether it will be a crash or a gradual decline in prices due to the supply starting to outstrip the demand remains to be seen.
If its people not buying new cars due to increased costs of them or other factors like working from home more etc then it might prop the market up and continue to be high and therefore become the norm.
The day of the cheap lease deals seems to be gone and combined with many doing less miles overall, I wonder if people can justify brand new cars anymore, especially considering what they cost.
In summary, I have no idea
Have to agree, my thoughts!If its lack of supply due to production issues, i.e. wait times for new cars then once that is sorted out it will likely correct itself eventually but whether it will be a crash or a gradual decline in prices due to the supply starting to outstrip the demand remains to be seen.
If its people not buying new cars due to increased costs of them or other factors like working from home more etc then it might prop the market up and continue to be high and therefore become the norm.
The day of the cheap lease deals seems to be gone and combined with many doing less miles overall, I wonder if people can justify brand new cars anymore, especially considering what they cost.
In summary, I have no idea
Pandemic, people at home thinking life is too short or bored in furlough!
Business loans/furlough.
The potential end of petrol cars and the last chance to own their dream car?
Lack of new car availability.
Maybe people seeing cars as an investment with QE meaning inflation and or savings getting bugger all interest?
Joey Deacon said:
I was shocked to read that 3.4 million people are still on Furlough. The interesting part is "But of the 3.4 million people still on furlough, many were involved in "beverage serving activities", which includes pubs and restaurants. As of 30 April, the sector still had around 70% of eligible staff not working and instead receiving government assistance."
Yes, that is the same industry that is currently screaming out for staff while it would appear a large percentage of them are still furloughed. That to me suggests that these staff would rather sit at home on 80% of pay than get back to work (and to be honest I don't blame them)
So what happens next, do the government end the furlough scheme at the end of September forcing these people back to work or do they extend it again? Surely the big risk for the government is they may suddenly have millions of unemployed people who will then claim benefits anyway.
A fair percentage were probably foreign workers who went home due to Brexit and or Covid!Yes, that is the same industry that is currently screaming out for staff while it would appear a large percentage of them are still furloughed. That to me suggests that these staff would rather sit at home on 80% of pay than get back to work (and to be honest I don't blame them)
So what happens next, do the government end the furlough scheme at the end of September forcing these people back to work or do they extend it again? Surely the big risk for the government is they may suddenly have millions of unemployed people who will then claim benefits anyway.
Edited by Mark300zx on Wednesday 9th June 10:33
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