For context, I would suggest that the seeds for the "no work" mentality as you call it (or the Great Resignation) go back a lot longer than just 2020 - 2022 during Covid.
I would also suggest that the supply-chain is not as robust as you imply it to be, especially given its global nature.

When state and local governments came out of the Great Recession of 2008-2009, they hired part-time employees with no benefits.
This trend solidified itself and became part of the "playbook" for not just state and municipal govt employees, but private one's as well over the next decade.
When you get no benefits, you arent "invested" in your workplace. As a result, the workplace falls prey to a horrible work ethic and culture.

Again, this just didnt start with Covid. It goes back to the Great Recession.

And when you combine this with the dramatic surge in real estate prices in metro areas like the the SF Bay Area, young people start to give up.
Ever increasing tuition for school doesnt help this "equation" either. They wind up living at home with their parents a lot longer than they had originally planned
in order to save some money and afford more than just a car to get to and from work. A sense of fatalism creeps in as they find themselves a lot less INDEPENDENT than they had imagined.

 

Can we all agree CA dealers are absolutely the greediest on average compared to other states? Existing relationships don't count. I'm talking about just someone shopping around for their first Porsche.

I live in the SF Bay Area and know a few people including myself that bought their Porsches out of state and actually paid less that way.

 

Maybe the demand, relative to supply, is highest in CA?

 

Yeah. Nice weather (for driving a Porsche) and lots of rich people I guess.

 

Another BAT auction ended today with reserve not met, this time $33K over on a fairly well optioned car with a $208K MSRP. That is now the last 3 auctions in a row with RNM on different cars, the previous one was ~$30K over RNM, and before that for a touring it was $47K RNM. So it seems like the current market is pricing a PDK wing at around $30K over in January, so i am hoping these will come down to ~$20K over in Q3 of this year. i think that is reasonable. Before the year ended I spoke to a local dealership about a new GT3 they had that they mentioned they were aggressively trying to move by year end. They were asking roughly $60K over on it, and i said thanks but I have budgeted $20-$30K over. They told me we can work something out and to come in. I wasnt able to make it in before it was sold that day, my guess is it sold in this range if they were telling me to come in to work a deal. I initially thought that $20-$30K over would be possible by end of year for a PDK Wing, and thought that MSRP was not going to be possible even on a bad spec, but part of me thinks that it could be possible based on where we are now. I do think they will continue to go lower, and we are already at ~$30K for PDK Wing cars. BAT was bringing in a bit of a premium over local dealers from what I saw last summer, so if that trend continues and dealerships actually decide to move inventory maybe we see it lower. I think $20K over for an ideal PDK Wing spec in a color I like with options I want would be something I would be comfortable doing. Granted these are RNM, and sellers need to actually decide to sell for this to be considered true market price.

https://bringatrailer.com/listing/2022-porsche-gt3-15/

 

Seller could have done a better job cleaning the car, scuff marks and just not clean for a premium sale. Many get scared off with 5k miles on the car also …it was a good speck. Regardless what people think they will keep going south, and once RS’s show up inventory will build as this is not a new trend that many think it’s not going to settle. It’s not a hot new car anymore …..

 

That's because the buyers in CA are also the greediest.

When times were in favor of buyers, they probably bargained the hardest, on average, for the largest discounts vis-a-vis MSRP.

 

You said "probably". What kind of data/examples do you have? I'm certainly not aware of anything that suggests CA consumers being greedier pre-pandemic.
I don't see how the factors that make demand-to-supply ratio higher in CA (nice weather, lots of rich people) are dependent on the pandemic but maybe you can educate me

 

Market is falling. 100 percent for currently produced cars. 80 percent even for collectibles like rs 4.0

 

This is a very balanced view imo

 

It’s not. I’m seeing shrimp come into the pipeline that have May and August 2021 production dates. When lobster tails were sky high back in spring 2022, they claimed no product. No I’m seeing tails with April 2022 production dates come through the system. Producers and importers were holding product back so they could get record prices, especially on lobster.

 

I don’t think this is true. You guys keep assigning moral character to a simple supply vs demand problem. Approximately none of you would do anything differently in these situations. It’s all about the relative power a given demand / supply produces.

CA is the 8th largest economy in the world and gets more allocations than most countries. When demand slows, this means that supply is very large, so larger discounts are possible or even necessary. When demand exceeds supply, folks bitch more, and they have relatively more money on average to bid up prices.

 

and I thought the adm conversation was pretty stupid. I really need to keep reminding myself that ignorance has no limit

 

 

Agreed 100% about assigning moral character to a simple supply/demand problem. - - - By the way, CALIFORNIA is the 4th LARGEST ECONOMY IN THE WORLD.

California recently moved ahead of Germany.

PS. I drove my new 2023 GT3 Touring today.