the slow down

[New year revolutions...... 197]

felt it yet?

battening the hatches?

reading what's happening out there?

just asking.......

I'm working to see what happens come dec,anyone else afraid?

[Halfpenny 114]

Its going to be carnage. Government and private debt are escalating to unsustainable levels. We're fcuked. Brexit will be the final nail in the coffin. I think there is a real chance of a catastrophic devaluation of the pound at the end of the year.

I semi-retired a couple of years ago but still have 50% of a business (40 car pitch plus service, MoT).  I think I will bail out soon. Been having discussions with my partner. I have property overseas and want to get out. The UK is a hellhole now - for many many reasons.

[Rory RSC 596]

People are going to want cars. Im not going anywhere. Maybe switch my stock profile as and when things change.   Currently doing well.

[Mojo121 229]

When the big one happens they’ll be nothing any of us can do  until then, like Rory said, we just have to adapt

[BHM 994]

The main problem at the moment is buying but.....

12 hours ago, New year revolutions...... said:

felt it yet?

battening the hatches?

....all of a sudden the cheapie buyers are cheaper than ever & I've had a few customers downgrading to my £3-4K stock due to redundancy.

[Anglo9 26]

3 hours ago, Mojo121 said:

When the big one happens they’ll be nothing any of us can do  until then, like Rory said, we just have to adapt

Agreed , keep overheads as low as poss,buying fewer cars but with sensible margins , but nobody knows how the winter will look .  That said I've been in and around the motor trade since 1986 ( I know...) and weathered a few recessions  , but my financial year ends Oct so that's crunch time for me whether to commit again for another year . Truth is though , if I'm not doing this , I'm likely a minimum wage bod !

 

[Lakeside 94]

3 hours ago, BHM said:

The main problem at the moment is buying but.....

....all of a sudden the cheapie buyers are cheaper than ever & I've had a few customers downgrading to my £3-4K stock due to redundancy.

This will be the problem. Yes people will still want cars but with people cutting costs and losing jobs it will be the banger selling Facebook doorsteppers that will thrive. 
 

[grant8064 219]

Just get on with it, no point being afraid. Currently people need cars and there's very limited supply. Will people need cars in a few months time...probably.

All you can do is work hard, efficiently and keep an eye on costs, same as every month. If there's a mega recession I won't be able to stop it.

 

 

Edited July 1, 2020 by grant8064

[Row 71]

So will stock become cheaper?

[Mojo121 229]

3 hours ago, Lakeside said:

This will be the problem. Yes people will still want cars but with people cutting costs and losing jobs it will be the banger selling Facebook doorsteppers that will thrive. 
 

Had a few nice ones offered to me in the last few days - all maintained to the hilt by proper people who’ve just realised they don’t need them and are changing to something more suitable for them.

the virus has given people time to think.

Not doom and gloom, these people are going to buy newer cars.

perhaps I’ve been lucky

[BHM 994]

11 hours ago, grant8064 said:

Just get on with it, no point being afraid. Currently people need cars and there's very limited supply. Will people need cars in a few months time...probably.

+1. I can sell just about everything I can lay my hands on anyway, tbh it’s a bit embarrassing because whenever anyone comes around I’ve space for 25 but constantly only have 4-6 at any one time. It looks like I’m going bust.

9 hours ago, Row said:

So will stock become cheaper?

The law of supply & demand. When supply is low prices will always be up. Any buyers that don’t appreciate how a market works won’t buy, but there’ll be those that do.

12 hours ago, Lakeside said:

banger selling Facebook doorsteppers that will thrive. 

They’ll always sell for a few quid profit. However there are plenty of people, even shopping at the lower end of the market, who realise there’s a catch. In my experience many of these customers have a tale of a past ‘cheap’ purchase & don’t wish to repeat the experience .

[umesh 336]

Can't over think and second guess what's going to happen, Think we all know when the furlough stops, job losses start things will change massively but in the meanwhile just got to be positive and get on with it. 

 

[metcars 397]

16 hours ago, Row said:

So will stock become cheaper?

Well usually everyone thinks that buying cheaper cars is the answer,  so if that’s your area you’ll be getting more competition? Guys that a few years ago would have poked fun at you for selling £2k focus will now clammer for one! Lol

[AAM90 22]

8 hours ago, BHM said:

+1. I can sell just about everything I can lay my hands on anyway, tbh it’s a bit embarrassing because whenever anyone comes around I’ve space for 25 but constantly only have 4-6 at any one time. It looks like I’m going bust.

The law of supply & demand. When supply is low prices will always be up. Any buyers that don’t appreciate how a market works won’t buy, but there’ll be those that do.

They’ll always sell for a few quid profit. However there are plenty of people, even shopping at the lower end of the market, who realise there’s a catch. In my experience many of these customers have a tale of a past ‘cheap’ purchase & don’t wish to repeat the experience .

My sentiments and position exactly. The job is on fire at the moment. How long it will last who knows. Make hay while the sun shines.

This week i've not managed to buy anything that will show a worthwhile profit. I fear I will have to join the 'pay anything to fill a hole' brigade

Edited July 2, 2020 by AAM90

[CCC 31]

On 7/1/2020 at 12:45 AM, Halfpenny said:

Its going to be carnage. Government and private debt are escalating to unsustainable levels. We're fcuked. Brexit will be the final nail in the coffin. I think there is a real chance of a catastrophic devaluation of the pound at the end of the year.

I semi-retired a couple of years ago but still have 50% of a business (40 car pitch plus service, MoT).  I think I will bail out soon. Been having discussions with my partner. I have property overseas and want to get out. The UK is a hellhole now - for many many reasons.

I can see the pound plummeting but not sure how that will affect the market. Arguably just make new cars more expensive and help prop up the used market.

The cheapies market is where the action will be as people wise up to the risks around PCP and buy what they can afford to run in tougher times.

[Halfpenny 114]

On 7/2/2020 at 10:54 PM, CCC said:

I can see the pound plummeting but not sure how that will affect the market. Arguably just make new cars more expensive and help prop up the used market.

The cheapies market is where the action will be as people wise up to the risks around PCP and buy what they can afford to run in tougher times.

The falling pound will affect the car market because the country will become poorer. Fewer people in work, pay falling or stagnating.  Fewer youngsters taking driving lessons and buying their first car. Demand drops across the industry..

The value of currency is a good indicator of a country's economic health. It is significant because a lot of UK's debt is non-Sterling - so interest payments rise when the pound falls. Also we import more than half our food plus most of our cars, car parts, tools and equipment etc etc.  It will all get more expensive. We all get relatively poorer and business gets a lot tougher..

The economy was struggling BEFORE coronavirus.  In the first three months of the year the UK GDP fell by 2.2%. That's the biggest fall since 1979.  I have been in business since the late 1970's so I have seen my share of ups and downs, but what we are facing now is the biggest downturn in history.  The fact that the government are contemplating a no-deal Brexit with concomitant tariffs in the current situation just beggars belief. We are being led off a cliff. And I say that as someone who has been an active member of the Conservative Party for 27 years.

[Frank Cannon 812]

On 7/2/2020 at 12:53 PM, AAM90 said:

My sentiments and position exactly. The job is on fire at the moment. How long it will last who knows. Make hay while the sun shines.

This week i've not managed to buy anything that will show a worthwhile profit. I fear I will have to join the 'pay anything to fill a hole' brigade

Same here, there are REALLY are cheaper cars for sale privately.

Obviously a lot with undeclared Vcar status/cluster changes etc

 

Edited July 5, 2020 by Frank Cannon

[Mojo121 229]

On 7/4/2020 at 3:57 PM, Halfpenny said:

 

The economy was struggling BEFORE coronavirus.  In the first three months of the year the UK GDP fell by 2.2%. That's the biggest fall since 1979.  I have been in business since the late 1970's so I have seen my share of ups and downs, but what we are facing now is the biggest downturn in history.  The fact that the government are contemplating a no-deal Brexit with concomitant tariffs in the current situation just beggars belief. We are being led off a cliff. And I say that as someone who has been an active member of the Conservative Party for 27 years.

I agree with the going off a cliff analogy. To my understanding the issue with a no-deal Brexit and the tariffs is simply because we import too much from abroad, the effect on GDP is huge as you send money overseas. We import around 50% of our food in this country. It’s an easy trap to fall into when being part of this larger common market. Countries always take advantage of cheaper goods available from elsewhere, well, private enterprise does and offers it to consumers who take advantage. Local manufacturers of produce become non-competitive and many simply close the doors. Then you have the wider variety of produce we have access to. These products will either increase in price or become a lot harder to obtain. My point is self sufficiency in regard to your food supply should be the primary concern of any government in any nation and needs addressing here asap.