Car values dropping
#301
Race Car
Well said.
With Russia cutting fuel to Germany (temporarily) until late June and the threat of it happening again thereafter will cause even more pressure on industrial output and I think we may see another upward wave of pricing over the next four quarters. It’ll be interesting to see what happens. The only variable that may offset this is the US going into a deeper recession. It sure is a mess out there.
With Russia cutting fuel to Germany (temporarily) until late June and the threat of it happening again thereafter will cause even more pressure on industrial output and I think we may see another upward wave of pricing over the next four quarters. It’ll be interesting to see what happens. The only variable that may offset this is the US going into a deeper recession. It sure is a mess out there.
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Laszlo_Laz (07-17-2022)
#302
Keep in mind these are late-model mass-produced cars. The car market has been crazy lately because of Covid cash and supply constraints. But this trend will correct and, with few exceptions, these cars will depreciate fairly rapidly.
#303
True, but I bought my car to drive and enjoy. Put 1200 miles on it in less than 2 weeks not to resell, or invest. Last fun car was my corvette that I owned for 14 years. I'll keep my Turbo S at least that long. So if price drops, ohh well, can always get more money, can't get more time enjoying it.
#304
Racer
True, but I bought my car to drive and enjoy. Put 1200 miles on it in less than 2 weeks not to resell, or invest. Last fun car was my corvette that I owned for 14 years. I'll keep my Turbo S at least that long. So if price drops, ohh well, can always get more money, can't get more time enjoying it.
i'm with you here as much as i can be. got mine to drive the hell out of as well. zero thought given to resale/return and future pricing. was lucky to jump in early on in the pandemic and got a great price but again....not planned/pure luck. that being said, i can't seem to keep anything long term. cars, watches, girlfriends.....anything. get bored easy and new shiny objects push me over the edge rather easily. as much as i love my 991.1S, it's highly doubtful i'll own it for more then 4-5 years tops (2-3 more years from now).
although i might feel differently if it was a Turbo S like yours (my ultimate end game dream car)
we have so many different currents affecting pricing right now that it's really impossible to predict what comes next. some market forces are pushing prices higher, while others are pushing it lower. these forces will battle it out in the real world and an eventual "winner" will emerge. until then, it's anyone's guess where pricing will go short term (3-12 months horizon). long term, i'd bet the farm prices will come down but when and by how much is again anyone's guess
#305
Recently the CEO of VW said they’re not making any capacity increases at all for the 911/brand (portfolio) and will continue to monitor the economic situation which they frame as fragile. And now… this week Russia’s about to hang the EU dry. No energy, no cars. If this pans out, new 911s will get incredibly scarce driving up preowned even more which are already sky high. The EU is taking emergency measures this minute to survive the coldest winter since WWII.
PS; the pandemic is over and covid peak is long gone We are now entering a very new and uncharted waters. Hand onto your pants.
Last edited by Laszlo_Laz; 07-17-2022 at 12:44 AM.
#306
Race Car
Your comment is very fair from a generalists’ point of view. The mean average across all vehicles. But trends will not all be equal or in parity.
Recently the CEO of VW said they’re not making any capacity increases at all for the 911/brand (portfolio) and will continue to monitor the economic situation which they frame as fragile. And now… this week Russia’s about to hang the EU dry. No energy, no cars. If this pans out, new 911s will get incredibly scarce driving up preowned even more which are already sky high. The EU is taking emergency measures this minute to survive the coldest winter since WWII.
PS; the pandemic is over and covid peak is long gone We are now entering a very new and uncharted waters. Hand onto your pants.
Recently the CEO of VW said they’re not making any capacity increases at all for the 911/brand (portfolio) and will continue to monitor the economic situation which they frame as fragile. And now… this week Russia’s about to hang the EU dry. No energy, no cars. If this pans out, new 911s will get incredibly scarce driving up preowned even more which are already sky high. The EU is taking emergency measures this minute to survive the coldest winter since WWII.
PS; the pandemic is over and covid peak is long gone We are now entering a very new and uncharted waters. Hand onto your pants.
Last edited by shrimp money; 07-17-2022 at 01:04 AM.
#307
Covid is making a resurgence apparently, the Warner Brothers studio is experiencing an outbreak, LA county is mulling mask mandates by end of this month. Even where I live in Ohio, the news headlines are ramping up the hysteria already. Is what it is. We’re all on the same team, so play it smart, and learn from what we just went through.
Last edited by Laszlo_Laz; 07-17-2022 at 12:46 PM.
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d-- (07-18-2022)
#309
Doug Demuro from Cars and Bids talking about the market. He mentions the 991 at about the nine minute mark.
https://youtu.be/MRaLC8-EQIQ
https://youtu.be/MRaLC8-EQIQ
As for me, I’m planning to keep my 991.2 for at least 5-more years, that’s when my CPO expires. She’s a rare spec and I absolutely love it.
I don’t see it as an asset but I do see it as an achievement for working hard.
I’m assuming by the time my car won’t be worth too much but that’s okay.
If it’s not a mechanical headache then maybe I can keep her.
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#310
Rennlist Member
Doug Demuro from Cars and Bids talking about the market. He mentions the 991 at about the nine minute mark.
https://youtu.be/MRaLC8-EQIQ
https://youtu.be/MRaLC8-EQIQ
https://bringatrailer.com/listing/20...gt3-touring-6/
manuals still tend to be what they are.
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DarienA (07-18-2022)
#312
Doug has access to his own dbase of cars for sale so short of scraping his website he is going to have better data points then most. Also he knows transaction prices which data from cars.com or any other major cars for sale site wouldn't really have, because its one thing for a car to vanish from cars.com its another thing to know the transaction prices. Short of having Manhiem MMR data or working at a very large dealer network which has tons of franchises like Penske or something its really hard to have a finger on the pulse of the direction of the market of most cars.
#313
So I do my search on cars.com periodically for what I’m looking for. 991.2 with less than 45k miles, auto, awd, under 100k.
of the 6 that popped up, 2 of them had 1-3k recent price cuts. don’t recall seeing any price cuts in prior months. May not mean anything but makes me feel better as a buyer in waiting :-)
of the 6 that popped up, 2 of them had 1-3k recent price cuts. don’t recall seeing any price cuts in prior months. May not mean anything but makes me feel better as a buyer in waiting :-)
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vg247 (07-20-2022)
#314
Rennlist Member
So I do my search on cars.com periodically for what I’m looking for. 991.2 with less than 45k miles, auto, awd, under 100k.
of the 6 that popped up, 2 of them had 1-3k recent price cuts. don’t recall seeing any price cuts in prior months. May not mean anything but makes me feel better as a buyer in waiting :-)
of the 6 that popped up, 2 of them had 1-3k recent price cuts. don’t recall seeing any price cuts in prior months. May not mean anything but makes me feel better as a buyer in waiting :-)
Last edited by B Russ; 07-19-2022 at 11:38 AM.
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vg247 (07-20-2022)
#315
Yeah, same here. I am in Texas (looking for a 991.2), and while searching ran into this one again (first saw it 3-4 weeks ago), and now it has a $15K dealer discount:
2015 911 Convertible Carrera GTS
Several other cars at the same dealership also starting to show a dealer discount ...
2015 911 Convertible Carrera GTS
Several other cars at the same dealership also starting to show a dealer discount ...
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vg247 (07-20-2022)