Future market conditions...

[Martin F 15]

An interesting article published on the BBC website today

https://www.bbc.co.uk/news/uk-england-northamptonshire-56104281
 

Makes me wonder if somebody is able to afford to do this are they going to try and control the market once they start releasing stock?

Anybody know if these cars are anything to do with City Auction Group, based at Rockingham ?

 

[BHM 994]

Control the market? It just looks like a field full of unwanted Vauxhalls to my eye.

[Halfpenny 114]

55 minutes ago, Martin F said:

An interesting article published on the BBC website today

https://www.bbc.co.uk/news/uk-england-northamptonshire-56104281
 

Makes me wonder if somebody is able to afford to do this are they going to try and control the market once they start releasing stock?

Anybody know if these cars are anything to do with City Auction Group, based at Rockingham ?

 

Not really news. Its IT Fleet Automotive/City Auctions  - defleet and storage. There's cars sitting around all over the place at the moment.  The market is seriously constipated.

[Bmx Bandits 52]

It’s just one storage compound full of Vauxhall management cars/fleet pre reg/daily rental return cars. Back in the day (20 years ago) I worked for a vauxhall and they had fields full of cars back then too, they used a high tech showroom customer facing used car locator so that you could order a specific 1 - 12 month old car in the spec/colour/mileage the customer wanted and it would be delivered direct to the dealership for handover, they had cars everywhere.
 

Mazda for example still photo these cars unwanted-nearly new cars and advertise them direct on their used car locator 

The real issue has always been that most manufacturers try to force their market share so inevitably have lots of cars sat around waiting to find homes.

They won’t be trying to control the market, they would happily sell them all ASAP, if they could, to get the ££££ back in and also help save on the big storage fees.

[Frank Cannon 812]

I believe this is what's called fake news....this really isn't going to effect the price of a 2012 Fiesta is it

[trade vet 696]

It was reported that when Hertz declared bankruptcy in the summer caused by the pandemic,they had 700,000 cars lying idle and on lease.I was told just yesterday that there are not many cars availible at airports if you want to hire one.I would imagine that until they sort the leases out,they cannot sell them ? 

[David Horgan 564]

Storage of boring overpriced shite there , no funny stuff going storing those types , sat waiting for their values to fall so they will sell . 

Probably due to over selling on PCP deals and then back fired when they all got handed back.

Seen that TV program " The undateables " well these are the " Unsellables "  what normally happened is the customer paid of the loan on finance and kept the cars till they were 5/6 years old now they sit in that high price boring shite level of a cars life were no one is going to give 8k for one and lose a packet 

Or some lease deal gone sour . either way they will be there a while till somebody writes the values off 

Edited February 19, 2021 by David Horgan

[Earunder 69]

http://rockingham.co.uk/automotive-solutions

 

[BHM 994]

6 hours ago, David Horgan said:

well these are the " Unsellables "  what normally happened is the customer paid of the loan on finance and kept the cars till they were 5/6 years old now they sit in that high price boring shite level of a cars life were no one is going to give 8k for one and lose a packet 

  you nailed it there. I often wonder who pays £8Kish for such total & utter dross.