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Chewing Grass

New Car Registrations

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New car sales fall by 1/5 as turkeys come home to roost in the sector.

https://www.theguardian.com/business/2017/may/04/uk-car-sales-tax-changes-price-rises-april

http://www.bbc.co.uk/news/uk-scotland-scotland-business-39807468

Lack of PPI funded deposits, changing government attitude to diesel, market flooded with low-mileage used, disappearing electric subsidy etc etc, plus a tapped out population mean that the good times for car dealers have faded by 20% in England and 17.5% in Scotland.

The chap from the SMMT says, "Given the strength of the new car market over the first four months of the year, with numbers still up on 2016 by 1%, the retailers have fantastic levels of outstanding pre-owned vehicles and the message we are hearing is still a very encouraging 'business as usual' for anyone looking to change their current vehicle."

There you have it 'outstanding levels of pre-owned vehicles', most probably diesel, car dealer speak for cake today - starve tomorrow.

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A more accurate comparison might be buying a house at an inflated price... ie. as long as the finance is readily available and cheap, then most people will never realise the full cost as they can just make a monthly payment and forget about it. Until interest rates go up, I can't see the rate of take up dropping off. If the blip continues, dealers will come up with creative ways of selling them. An example on TOS that is likely to come to wider roll-out is PCP on used cars....

 

Every other car on the road is a 1-3 year old AUDI round my way now - so tedious.

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11 minutes ago, spunko2010 said:

A more accurate comparison might be buying a house at an inflated price... ie. as long as the finance is readily available and cheap, then most people will never realise the full cost as they can just make a monthly payment and forget about it. Until interest rates go up, I can't see the rate of take up dropping off. If the blip continues, dealers will come up with creative ways of selling them. An example on TOS that is likely to come to wider roll-out is PCP on used cars....

 

Every other car on the road is a <3 year old AUDI round my way now - so tedious.

Yet those Audi drivers think they are so special, individual and free thinking.  

As per other thread on engines, we are looking for a new car.  Mr one percent asked 'how about an Audi?'  After I had stopped laughing and he had been discharged from casualty, we are rethinking that one.  xD

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Audis are for wankers. These were within a day of each other. Chances are the dickhead hanging 2cm off the back bumper is in a fucking Audi.

index.jpg

index1.jpg

Edited by chronyx

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29 minutes ago, One percent said:

Yet those Audi drivers think they are so special, individual and free thinking.  

As per other thread on engines, we are looking for a new car.  Mr one percent asked 'how about an Audi?'  After I had stopped laughing and he had been discharged from casualty, we are rethinking that one.  xD

Amazingly they all buy the same vehicle!

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As a way of highlighting the contradictory messages we are given by tptb and msm, today they report that car finance is likely to be the next financial incident.

http://www.bbc.co.uk/news/business-39895327

funny that a week ago sales were tumbling, this week there has been a 13 percent rise is borrowing to fund car renting. 

This is not going to end well is it. 

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18 minutes ago, One percent said:

As a way of highlighting the contradictory messages we are given by tptb and msm, today they report that car finance is likely to be the next financial incident.

http://www.bbc.co.uk/news/business-39895327

funny that a week ago sales were tumbling, this week there has been a 13 percent rise is borrowing to fund car renting. 

This is not going to end well is it. 

I could end up with another cheap car?xD

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3 minutes ago, MrPin said:

I could end up with another cheap car?

Well yes those of us who would not dream of buying new might just get a very nice cheap car.  Mind from what I've seen getting bought on finance, it will be a choice between a small shiny boy racer type of a white SUV. xD

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Just now, One percent said:

Well yes those of us who would not dream of buying new might just get a very nice cheap car.  Mind from what I've seen getting bought on finance, it will be a choice between a small shiny boy racer type of a white SUV. xD

Mr Soprano had a nice Cadillac Escalade in a white colour! Mind you he killed people in it!

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9 minutes ago, One percent said:

As a way of highlighting the contradictory messages we are given by tptb and msm, today they report that car finance is likely to be the next financial incident.

http://www.bbc.co.uk/news/business-39895327

funny that a week ago sales were tumbling, this week there has been a 13 percent rise is borrowing to fund car renting. 

This is not going to end well is it. 

No shit, it is all about the residuals and debt. If your target market increasingly only buy your product on lease/tick then they have plenty of issues in regards affordability - where are the downpayment coming from? If your production/marketing strategy is reliant on residuals and finance then as a car manufacturer you have some issues when those residuals don't perform as expected. if you are the bank providing finance your loans are going to be in trouble . If they financial risks have been offloaded onto an insurer their claims are going to be hit and will need to reprice or get out of the market altogether if they lose enough.

 

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You can amazingly sometimes buy a new car for less than a nearly-new one, depending on the model and the dealer discounts! I bought a brand new BMW this way when they were bringing out a facelift shortly.

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3 minutes ago, One percent said:

Well yes those of us who would not dream of buying new might just get a very nice cheap car.  Mind from what I've seen getting bought on finance, it will be a choice between a small shiny boy racer type of a white SUV. xD

Well I ended up with a decent van just in time before scrappage  and the incentives started, got very lucky there.

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9 minutes ago, spunko2010 said:

You can amazingly sometimes buy a new car for less than a nearly-new one, depending on the model and the dealer discounts! I bought a brand new BMW this way when they were bringing out a facelift shortly.

https://en.wikipedia.org/wiki/BMW_303

I guess war was coming! That would look excellent outside the Admiralty!

Edited by MrPin

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On 04/05/2017 at 18:14, Chewing Grass said:

Lack of PPI funded deposits, changing government attitude to diesel, market flooded with low-mileage used, disappearing electric subsidy etc etc, plus a tapped out population mean that the good times for car dealers have faded by 20% in England and 17.5% in Scotland.

Don't worry, after the election they'll bring in a diesel scrappage scheme using taxpayer funds in order to carry on subsidising the car and finance industries improving the environment.

ETA: On a more positive note, I look forward to lots of cheap second hand cars. Having said that, my 12 and 17 year old cars are still going strong and have recently passed their MOTs with no advisories, so I'm not planning on changing soon.

Edited by The Idiocrat

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1 minute ago, The Idiocrat said:

Don't worry, after the election they'll bring in a diesel scrappage scheme using taxpayer funds in order to carry on subsidising the car and finance industries improving the environment.

That's the way I see it!o.O

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We bought a nearly new rover (the one that I am mithering about at the moment) just after rover went pete tong.  A car costing well over 20K was bought for 12. 

It looks like the stars may be aligning for dosbodders to snaffle up a car at a very good price  :)

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2 minutes ago, One percent said:

We bought a nearly new rover (the one that I am mithering about at the moment) just after rover went pete tong.  A car costing well over 20K was bought for 12. 

It looks like the stars may be aligning for dosbodders to snaffle up a car at a very good price  :)

Look! I'm not  buying a Rover.

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9 minutes ago, The Idiocrat said:

ETA: On a more positive note, I look forward to lots of cheap second hand cars. Having said that, my 12 and 17 year old cars are still going strong and have recently passed their MOTs with no advisories, so I'm not planning on changing soon.

Yeah, it's amazing how often that happens on internet forums.

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On 2017-5-4 at 19:51, chronyx said:

Audis are for wankers. These were within a day of each other. Chances are the dickhead hanging 2cm off the back bumper is in a fucking Audi.

index.jpg

index1.jpg

Mystified why anyone buys one since they have clearly been the bell end's weapon of choice for years. There's not much they offer these days that either a VAG group model or another marque don't.

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