Bmx Bandits

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Posts posted by Bmx Bandits


  1. 5 hours ago, Halfpenny said:

    Carzam, Cazoo, Cinch, Carvana.......Hmm...  I think we can now safely say that their online model for used car retailing has been tested to destruction! The only 'disruption' is to their investors bank balances. 

    Used car values have confounded my expectations so far, but I think that with rising interest rates and a likely recession on the horizon there is a reckoning coming. I gather used car demand/prices have started to drop quite sharply in USA.  If mirrored in the UK that would be a steak through the heart of Cazoo..

    Your spot on with the disruption to investors bank balances!!!

    Used car prices are an interesting one though, I can’t help but think that if the recession and fall in consumer demand continues to hit sales of new electric cars, just as it would appear that supply of these electric cars starts to increase. Then there will be massive pressure from the manufacturers and main dealers for another government scrappage scheme.
    Tesla has already dropped prices and I’m sure others will be following, manufacturers would much rather hide their discounts in a scrappage type deal than straight off list prices to help protect their residual values for those all important lower monthly payments and the government could save (environment) face with an increase in uptake of electric cars and polluting older cars taken off the road.


    In which case rather than fall used prices might actually stay very strong as once again really nice good quality low mileage older cars are removed from the road again. 

    • Like 1

  2. 8 hours ago, trade vet said:

    So the founder and Chief Honcho has been removed.However,no worries and in order to ‘reset their top line ( not bottom line ) ambitions ‘and to ‘ maximise their cash runway ‘,they have created a new strategy —— close down prep centres which probably means sacking fitters,painters and valeters and ‘Bob’s your uncle ‘.  You cannot make it up.

    What makes it even more unbelievable is they are proposing closing the prep center's they have recently paid an absolute fortune for!! Didn’t they spend something like £70 million to buy 6 of them?!! 

    It’s very hard to see how this is going to end well!

    I do feel sorry for all the people who will be losing their jobs while the kingpins at the top who couldn’t organise a p*ss up in a brewery, get to keep their jobs and will no doubt continue to pay themselves large bonuses. 

    I can’t wait until they inevitably need to go to the market and try and borrow more money to keep the lights on for another 6 months or so. In the current climate I can’t see many takers.

     

    • Like 2

  3. 8 hours ago, trade vet said:

    Looking forward to the next press release from the Cazoo guy . Something like ‘ we would like to thank NYSE for their support,we continue to meet our projections with increased cash flow,lower carbon footprint,and our upgraded health and safety programme .Our  latest modern slavery mission statement emphasises the strong beliefs we have while driving the company forward.The company is in good hands.’ Etc etc

    You forgot to include ………he has the full support of the board which is made up of at least 50% Female/LGBTQ+ :lol:

     

     

    • Haha 1

  4. We had this issue with a IQ that we lost the key for and had no spare, we were told we would need a new smart key module and then keys. We ended up finding a key man that coded new keys up to the original module. It did take a while and he charged us 700 for two genuine smart keys coded but it could have been a lot worse. Just have a ring around and im sure you find someone who knows how it’s done.


  5. These figures are pretty shocking and made even worse but the continual impressive results being released from the established dealer groups - yes the same ones that where being written off due to the market changing potential of this disruptor!!

    With the chances of recession appearing to be increasing daily and the dire results, it’s no surprise the Chief financial officer is exiting stage left/been given the boot.
     

    With such a decline is share price since listing they are going to find it really hard and expensive to borrow any more money; so no wonder they have started a European business review. Their cash burn has been out of this world and needs to be cut quickly. The problem is trying to cut costs/staff/sites quickly is normally very expensive!! 

    I’m sure they will also start spending big trying to manipulate their share price to  put off getting delisted, so expect paid for research, lots of positive spin announcements from the board and pumping going on. Can only see that putting of the inevitable for so long before they have to turn the lights off. 
     

    A good friend with an Italian wife pointed out that Cazzo in Italian is not the sort of name you would give any company!!  Worth googling “cazzo  collins dictionary”  for a laugh! 

    • Like 2
    • Thanks 1

  6. 6 hours ago, David Horgan said:

    All prattling about used cars , that they have zero clue about .

    One wonders why its all falling down not making money :rolleyes:

    Your not wrong!! 
     

    They really are doing a great job of turning a large amount of money into a very small amount of money. 


  7. 5 hours ago, metcars said:

    I was playing ‘management lingo bingo’ reading through that. Can imagine what their strategy meetings were like!:D

    Can you images the idea’s that must get bounded about in those strategy meeting. It’s like the blind leading the blind…. 

    • Like 1

  8. They are everywhere. We took in a Corsa today in p/x that had been written off twice - cat c and a cat s, much to the surprise of the owner. There are definitely more advertised on Autotrader/trade

    I think it’s probably got something to do with these YouTuber’s who make it look so easy to buy off copart, then fix/bodge and sell for big profits


  9. We struggled a couple of weeks ago to get a clutch for a Hyundai i10 1.2, none of the local factors had stock or any idea when they would get any either. We got one off eBay on the end it was just under £100 and we had to wait a week for him to get the stock in. He’s now advertised them for £119. 

    We are also struggling with headlamps, ended up getting a set for a Q5 from Audi, we ordered them with euro’s but after about a week they canceled the order as they couldn't get the pattern ones. The bonkers thing was the new ones from Audi were cheaper than 2nd hand ones on eBay. It really is strange times!!  

     


  10. 2 hours ago, BHM said:

    A customer of mine arrived in a 10yr old RR & bought a Caddy van. I asked him what his was like for bills. He shrugged his shoulders & said anyone buying one should know what they’re getting themselves into so should expect it! Refreshingly realistic I thought.

    I hope he said thing about the caddy :lol:


  11. Seriously you can’t and shouldn’t try to please everyone. If you ask me you did much more than you should have and have dodged a bullet.

    Dust your self down, put it down to experience, learn from it and the next enquiry will seem like a walk in the park compared to this joker. 
     

    You’ll get better at spotting customers that really are going to bring you nothing but grief and point them in the direction of a main dealer, who have more than enough process and power suits to put them well and truly in their place and likely fleece them at the same time (that’s if they really have the money of course)


  12. Terrible news….. let me have the blokes number and I’ll take them off his hands :D

    In all seriousness I’d give them a go, diesels will sell just as quickly as most petrols. People have cottoned on the the fact that the going green is far more expensive and most of the population is being hit with an increase in the cost of living all round. Which means they have little choice but to live for the here and now, where cost is king and let’s be honest from an environmental point of view, the cars we sell pollute a damn sight less than some of the old bangers they part exchange. 


  13. Same nasty forbidden page. TS is right about Cazoo’s purchasing Cazana, so time will tell. Last time the function disappeared it did re-appeared again.

    Although this time they may need to charge for it as Cazoo’s share price has tanked 58%.


  14. 8 hours ago, BHM said:

    It could also be from the Armed Forces overseas vat exemption scheme. Basically it’s squaddies buying UK spec cars abroad cheaper.

    That was a superb scheme for Army personnel normally based in Germany. Nearly all of car manufacturers gave very substantial discounts on top of the 20% VAT saving.  There were thousands of cars going over thought this sales channel. The manufacturer I worked for gave 18% discount and free LHD headlamps in most of their range. I was supplying over 150 cars a year. 

    As you only had to keep the car 9 -12 months, most changed their car yearly as nearly all made money from the scheme and I would get really clean year old low mileage cars to sell on. Normally the cars were only driven short distances by the wives while in Germany and most of the mileage was normally done driving them to Germany and then back again to swap for the new one. They where good times  :lol:


  15. Yes, I’ve sold a quite a few over the years, no real issues as long as it’s uk spec, you just have to change the date of reg on the Autotrader advert back to 2012.
    Most customers are absolutely fine with it when you explain it to them and to be honest if they start to get funny about it the they are probably not customers you would want anyway.
    There was a car super market nearby that used to bring them over by the transporter load and re-register them, they never had any problems selling them. Motab even went through phases of offering free delivery over to the uk to shift them. 

    If it’s a nice straight car, with history I can’t see a problem and you might be able to get it a little cheaper if your lucky due to the re-register.


  16. We’re the opposite, Jan’s normally a slower start to the year, always put it down to people over spending at Christmas, this year the month started well and has just continued, no pattern as to what’s selling, Petrol/diesel/small/big. I’ve even managed to sell some oldies that have been hanging about for far too long. We have been really firm on our prices too.
     

    I have noticed we are getting a really good enquiry level from Autotrader, noticeably higher than normal in fact, so might be worth a look if your not already using them. 
     

    It’s all swings and roundabouts, so I’m sure give it a couple of weeks and you’ll be flying and my sales guys will be sat around telling me they could earn more money stacking shelves or driving HGV’s :lol: