Auctions are empty....

[Grantlfc81 88]

Just looking through the catalogues of Aston Barclay etc..... the amount of cars going through are really low..... also the quality of cars going through is also poor on average....

im assuming it’s been a poor plate change on 1st September as can’t remember such small amount of numbers....

[Casper 272]

14 hours ago, Grantlfc81 said:

Just looking through the catalogues of Aston Barclay etc..... the amount of cars going through are really low..... also the quality of cars going through is also poor on average....

im assuming it’s been a poor plate change on 1st September as can’t remember such small amount of numbers....

I've noticed that to I've also noticed some auctions not getting cars from usual sources I've also heard some of the people at sales etc say about the poor plate change .. 

Edited September 21, 2019 by Casper

[BHM 994]

I’ve visited 5 different auctions this week & it’s clear to me auctions lots are in reduced numbers.

At the lower end of the market just about everything has been traded in for a reason - not that that stops some from buying half-knackered cars & wiping a few hundred quid across them for the Facebook market. It seems to me this week that just about every diesel I sat in requires £700 worth of clutch & flywheel rendering them uneconomical to repair at book money.

[Dealer 54]

Main dealer local to me was moaning this week at how bad it is across all of their 3 different sites! 

If we are quiet at this end of the market then think what it must be like for the franchise boys with their overheads. 

[Grantlfc81 88]

I should imagine a lot of main dealers running at a loss over the last few months...

[BHM 994]

....just like Thomas Cook......and a number of high street stores.

[Casper 272]

6 minutes ago, BHM said:

....just like Thomas Cook......and a number of high street stores.

I said the same the other day its not just motor trade but many high street stores

[Tom 164]

Our local Nissan dealer are selling pick ups and vans like no tomorrow 200 registered this month all brand new.  

[Contracts 68]

25 minutes ago, Tom said:

Our local Nissan dealer are selling pick ups and vans like no tomorrow 200 registered this month all brand new.  

I have brought a fair few new bits lately as certain dealers are mugging themselves and trading on target bonus.  I think there will be a big push for registrations over the next few days to help the quarter figures.

One main dealer I know claims pre volume bonus they are loosing £300 a car. 

[metcars 397]

4 hours ago, Grantlfc81 said:

I should imagine a lot of main dealers running at a loss over the last few months...

https://www.thisismoney.co.uk/money/markets/article-7476857/Hundreds-jobs-axed-Car-Store-owner-Pendragon-vows-close-22-sites-amid-stinging-losses.html

[Nick M.K. 574]

Brexit. 

What else.

[tradegirl 112]

4 hours ago, Nick M.K. said:

Brexit. 

What else.

At least if they'd get it over and done with, and we'd all deal with whatever comes next.

[Nick M.K. 574]

28 minutes ago, tradegirl said:

and we'd all deal with whatever comes next.

And that's the scariest thought of all. Hence no one dares to do anything. Book flights, holidays, change car unless they have to. 

[beenaroundtheblock 21]

It's funny how everything is always due to Brexit. 

This is the biggest downturn, since the last one.

[metcars 397]

10 hours ago, Nick M.K. said:

And that's the scariest thought of all. Hence no one dares to do anything. Book flights, holidays, change car unless they have to. 

Yes. Happy, confident punters spend money on cars, anxious punters keep it in the bank.

[trader555 2]

18k cars showing on BCA, last year this was 28k. 

[justina3 518]

7 minutes ago, trader555 said:

18k cars showing on BCA, last year this was 28k. 

Sub 5k cars are in the same as always price wise.

[NacMan 67]

I smell a recession. 

[A & S 20]

16 hours ago, Nick M.K. said:

Brexit. 

What else.

Speaking to 2 different guys who manage different estate agents, both said very quiet due to Brexit. 

[Frankieola 22]

My local Vauxhall dealer has done a grand total of 11 new cars this month!! 

[Stephen 21]

Cazoo have done deal with bca. So can see them getting the pick of cars before they go to auction 

[tradegirl 112]

21 hours ago, Nick M.K. said:

And that's the scariest thought of all. Hence no one dares to do anything. Book flights, holidays, change car unless they have to. 

I don't understand the mentality though. England is hardly going to become a third world country overnight. If you spend an extra £3-4k upgrading your car (taking into account the value of your current vehicle) it's hardly going to make a difference is it?

Or going on holiday.

The only thing I understand is the housing market slowing down, because a drop in prices could lose you thousands.

[Nick M.K. 574]

Not overnight, no (unless you were on a Thomas Cook holiday yesterday). 

But it will become a little worse, then much worse for a while.

Every little helps...

[metcars 397]

1 hour ago, tradegirl said:

I don't understand the mentality though. England is hardly going to become a third world country overnight. If you spend an extra £3-4k upgrading your car (taking into account the value of your current vehicle) it's hardly going to make a difference is it?

Or going on holiday.

The only thing I understand is the housing market slowing down, because a drop in prices could lose you thousands.

Well, Unless you are investing, in which case a tanking economy is good! There are many sinister characters (rees mogg) waiting in the wings to pick the bones clean. Not forgetting that these same sinister characters believe that wIth working conditions are a barrier to trade! Interestingly these same sinister characters were telling us how easy leaving would be and how great it would be? 

I wonder why?

[CCC 31]

1 hour ago, tradegirl said:

I don't understand the mentality though. England is hardly going to become a third world country overnight. If you spend an extra £3-4k upgrading your car (taking into account the value of your current vehicle) it's hardly going to make a difference is it?

Or going on holiday.

The only thing I understand is the housing market slowing down, because a drop in prices could lose you thousands.

Those of us old enough to remember the recessions of the 80's and 90's will know why.

We've not had a "real" recession for 30 yrs or so, where we see large scale unemployment and significant drops in housing values.

The idea of being unemployed for 2-3 yrs can be enough to scare you into not trading up your car, especially if you've just paid off the last one and are looking at making a fresh £200-£400 per month commitment on the new one.

We bought our first house in the early 90's and viewed lots of repos (our place was a part exchange property probably sold at 25% off what the last owner had paid for it). If we see the same again, people will be losing 10's or 100's of Thousands. Not a few.

Markets work on confidence, and Brexit is ripping that out of the economy fast, and no-deal would accelerate it.

On the upside, a few property bargains will come about, classic 911's might go down to sensible money and zombie businesses (as Thomas Cook were technically) will leave the market reducing competition and increasing margins.