Likemystoppie?

The Cayman is NOT a good value.Not when up against the Boxster/Boxster S: But it would appear only WE know that since Porsche will continue to 'price it' to death.

nyca

Improving? In a macro sense, some of the recent positive consumer spending numbers were simply the result of 26 billion in tax refunds hitting the economy. That's over now.

Bob in NY

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Hope you are right Bob....maybe you can spread some of the good news in the land of Kalifornia. BTW, the best economic indicator is the BII (boobie implant indicator). My plastic surgeon friends start getting busy months before any other economic indicators! So far,
their business is "flat".
abe

That's funny!!!

Bob in NY

Sorry, I'm trying to be optimistic, I get tired of all the negative doomsday press everywhere. I do believe we've hit bottom but it will take some time to pull out of this economic situation. Saving is at 4.2% the highest in over a decade, people will open their wallets in time. There are deals on everything from Porsches to McIntosh, at some point consumers will realize now is the time for a purchase. As inventory falls in line prices will rebound.

nyca

Where is the money going to come from for increased consumption, or to stablilize home prices whereby people can actually afford to pay their mortgages with what they earn, that's the only true bottom for real estate prices.

Private sector wages are going no where except down. Typically in a recession, wages at least remain flat for those who remain employed. But this time, wage cuts are actually occurring (I was happy to get 0% this year). Only government employment is seeing increases. And you can forget about any meaningful tax cuts - in fact, expiration of previous tax cuts will mean significant tax increases in the future. Add cap and trade to that with the associated "hidden tax" in the form of higher energy prices. So sure, "deals" abound - but with what money will buyers emerge?

Yes, a bottom is being put in - but I see an L shaped pattern. We get to a bottom, consumption falls from 70% of GDP to the low 60s and output finds its level to match it, real estate prices fall to the level at which traditional mortgages can be serviced by prevailing wages - and that's where we stay.

Then toss in some other variables - I read the "what do you do for a living" thread and see we have many physicians on this board - what happens to their incomes under nationalized health care?

Bob in NY

I'm with you, 0% merit increases this year BUT many people are refinancing at record low interest rates, deflation is reducing COL expenses for the 90% that are working. There is no silver bullet here, I just think we are at bottom and may stay here for a while but things will improve by second half. If not there will be a lot of Porshes for sale cheap....On the next beautiful sunny day and you're out in the Porsche running through the gears looking for that next curve forget about all this crap, enjoy it and remember how lucky we are!!

BobbyB

+1

Likemystoppie?

The next big shoe to drop is high profile dealerships closing up /going under.


I just saw some of the numbers from this past months performance of the Porsche and Mercedes Dealerships around the country.


Holy Crap. Some seriously retarded dealership owners out there.

nyca

What do you mean? You mean their numbers indicate they should have closed already? Maybe pre-owned sales is what is keeping them above water.

brendo

yes, stoppie. do tell. better yet, have a few drinks, log back on, and tell us more!

stevebmd

stoppie...funnily enough, DC dealers seem to forget they are in crisis. They dont realize to move metal they need to make some concessions to a wary public. there is not much fat left on the pig (swine joke). around here the medical profession (ususally "recession proof") is feeling it, my buddies in finance/money businesses are feeling it. Porsche down 30 percent overall is feeling it. local dealers heads in sand or other wise...I canr wairt for them to have THREE models years new in stock 2008's that have been punched, 2009 lefrt overs and 2010's. hello summer sales event...

Likemystoppie?

No. And yes.


Jayzus.......I'm starting to get predictable around these parts....LOL ....

(what are you offering for a drink? )



Well, I could go off on a huge tangent; but since its *finally* gorgeous out here in Clever-Lands......I'll keep it short for you guys (you too Steve! )

The Auto bizz as you all know is in bad shape. But we've not even come close to rock botton yet.

Believe it or not; the automakers are doing a 'good job' on their end what with incentives and financing. One big piece of the equation though, is the banking sector will NOT work with us. MBUSA and MBF are working their azz's off to move cars. And doing very well at it. At 26% off in sales, MB is by FAR in much better shape then Lexus, BMW, Audi and Porsche -I'm speaking in %'s of course.

The problem is now, MBF (mercedes financial) is starting to be douche bags and turn down people who CLEARLY should not be declined for a loan or lease...I'm talking MULTIPLE repeat MB clients with 700++ fico scores.



Oh but it get's worse. This is a 3 pronged attack.


Economy sucks. right? right.
Customers are succumbing to fear.
Dealerships, for the most part, have not modified their approach.



The problem as I see it fellas, is that some of you are going to lose out on some great deals on cars. Not just Porsche. But your talking to the WRONG sales people and sales managers.


These arrogant bastards are smoking some serious crack. So when confronted by them, you turn and walk away and *bang!* you don't buy a car. What you're not realizing is that the automakers HAVE indeed, reduced production.


DRASTICALLY. - I did a search for a car in 3 different colors (porsche) for a Rennlister the other day.

Based on conversations by alleged 'know it alls' one would think there's a dozen or so of every model on the ground. If not more!

wrong. what I found for that specific car was that there was 1 in existance.

1. From Germany, to Vessel. To VPC. To dealership.


1 friggin car. - Let's talk about a mass produced car; the Mercedes Benz E350 4 Matic. Mercedes has done such a good job on incentives; that dealers are now NOT dealer trading these cars. There is less then a 10 day supply of these cars. Rear Wheel Drive E350 Sports, there's about 70 in the country.

Keep in mind folks, this is a SMALL number. Minute compared to how many people are out there.



*But here's the rub*



The dealer network. There's still, too many, arrogant, selfish, and, in my opinion- out of their friggin mind- Dealer Principals. The fish rots from the head down. They set the pace. So thats why you walk in.......................and you walk out; not having bought a car. Because their attitudes are not professional; but completely out of whack- not only for todays economic climate, but in general. Combine their sh*tty attitude, with the *wrong* information, and you have a clientel base that are not well educated on the 'real' market on a specific car. - but that's another convo for another day.


watch and learn. There are high profile dealerships in your area whom, one would think are monsters and never go down.


They're about to come crashing down. With tens of thousands of more people unemployed.

The automakers have done, for the most part; all they can. Now they're playing with allocations to ensure the stronger dealers survive. It's the only thing they can do.


Gyms callin my name. Laterz!

Likemystoppie?

wow. that wasn't short, was it?

Bob Rouleau

Dealers in Canada report the best month of March ever. Maybe some of those cars are coming up here....?

GSIRM3

Why do dealers "punch" cars before sold? My local dealer has three remaining 997s, and he punched all three in January. So whoever buys any of them has already lost four months of warranty. I guess they might punch the car to get allocations for 09s, but what for if they can't sell them.