Discussion
We’re officially in the credit crunch! The American car manufacturers are even as I speak going cap in hand to the US Government begging for money because they are so short of cash.
Raw materials including metal prices have plummeted to a low not seen since before the Great Depression. I read the car manufacturers are so desperate their new offer is for the senior directors and chairmen are offering to work for $1!
So redundancies loom large in Detroit as the recession bites, it’s apparently a novelty to see a customer in a showroom. I also read there are thousands of cars lined up at the dock as dealers hurriedly cancel previous orders due to a lack of paying customers.
Here in blighty things are fairing no better, car sales have fallen to an all time low here too, in fact November the BBC inform me showed the largest drop in 28 years for the major dealers....
So I am thinking now would be a good time to get a lovely spanking new Mustang then?
If the lost tribes of the Amazon see more people than the main stream dealers in the UK the specialist importers will be practically giving these low sale high value cars away not to mention plying you with all manner of offers and discounts to entice you in and part you from your cash....
Funny though, I took a look around a selection of importers on the internet and prices seemed to have remained static since the start of the year.....? No discounts or offers, not even free use of the swivel chair on a Wednesday afternoon!
Hmmmmm.......
Raw materials including metal prices have plummeted to a low not seen since before the Great Depression. I read the car manufacturers are so desperate their new offer is for the senior directors and chairmen are offering to work for $1!
So redundancies loom large in Detroit as the recession bites, it’s apparently a novelty to see a customer in a showroom. I also read there are thousands of cars lined up at the dock as dealers hurriedly cancel previous orders due to a lack of paying customers.
Here in blighty things are fairing no better, car sales have fallen to an all time low here too, in fact November the BBC inform me showed the largest drop in 28 years for the major dealers....
So I am thinking now would be a good time to get a lovely spanking new Mustang then?
If the lost tribes of the Amazon see more people than the main stream dealers in the UK the specialist importers will be practically giving these low sale high value cars away not to mention plying you with all manner of offers and discounts to entice you in and part you from your cash....
Funny though, I took a look around a selection of importers on the internet and prices seemed to have remained static since the start of the year.....? No discounts or offers, not even free use of the swivel chair on a Wednesday afternoon!
Hmmmmm.......
Bill Shepherd Mustang on another forum said:
Quick message from Bill Shepherd , there’s no way of getting away from it. With an average exchange rate of US $ 1.5 / to UK £ 1.00, or worse, the price of a new Mustang in the UK will rise significantly – probably around 25%. So maybe £6-7000 on a GT Coupe! That’s a mathematical fact.
Some UK dealers, like ourselves, did see the problem coming and have stock bought in at the old rate. These are now bargains – once they’re gone, they’re gone. (You can’t even personal import and beat these prices.) My feeling is that this will impact used values, which will harden over the months ahead – but we can’t find any cars to buy already!
Spoke with James at Atlantic Sports Cars the other day and he said pretty much the same thing. The exchange rate is heading south at a fair old rate of knots, so I don't think the dealers need to drop their prices too quickly on existing stock. You've missed the boat on a new car at a good price unless you buy one already imported some months ago - as Bill says "once they’re gone, they’re gone".Some UK dealers, like ourselves, did see the problem coming and have stock bought in at the old rate. These are now bargains – once they’re gone, they’re gone. (You can’t even personal import and beat these prices.) My feeling is that this will impact used values, which will harden over the months ahead – but we can’t find any cars to buy already!
Second hand you can get a lot of car for the money though.
Edited by benny.c on Thursday 4th December 14:21
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