New Car Sales Drop A Huge 13% In January

[Realistbear]

http://www.tiscali.co.uk/news/newswire.php...y_template.html

FRANKFURT/LONDON (Reuters) - New car sales in Germany soared 11 percent in

January but fell over 13 percent in Britain

as Europe’s two biggest auto markets raced apart at the start of what could be another tough year, data showed on Monday.

The storm gathers apace.

Edited February 6, 2006 by Realistbear

[OnlyMe]

Too much money spent on housing, consumer economy too reliant on equity withdrawal. Housing WILL kill the consumer economy.

[Realistbear]

Too much money spent on housing, consumer economy too reliant on equity withdrawal. Housing WILL kill the consumer economy.

It killed the San Diego bubble during the Great Crash (1989-96). No money to spend in the local economy with the result that many buinsesses went to the wall and higher unemployment rates followed. People took out massive loans in the hope of a quick buck and moved into new homes without furniture and lived on bean bags with sheets up at the window. I was there and got out in 1989. Phewwww. Its baaaack:

http://www.signonsandiego.com/news/busines...9-1b5money.html

February 5, 2006

Like a lot of San Diegans, Cheryl McGrady has wealth, but little cash. Her home value and stock investments have ballooned over the years, but a few expensive emergencies put her into $18,000 worth of credit card debt.

Its called "house poor." The only way a lot of these numpties will get out of debt is by selling their millstones--when they all get the idea to do the same its showtime!

Edited February 6, 2006 by Realistbear

[dogbox]

New car sales in Germany soared 11 percent

Ahemm.

[Realistbear]

Ahemm.

Germans don't go house mad like us, they rent with joyful abandon! That affords them a better lifestyle and ability to buy a nice motor every now and then. UK should follow the lead and get used to renting as an acceptable lifestyle. "Every Englishman's home is his castle" applied to the Earls and Barons of the middle ages.

I have been renting after selling up in late 2003 and am just getting used to it as a lifestyle option. It is not at all bad especially when your STR proceeds cover the rent.

[Mushroom]

http://www.tiscali.co.uk/news/newswire.php...y_template.html

FRANKFURT/LONDON (Reuters) - New car sales in Germany soared 11 percent in

January but fell over 13 percent in Britain

as Europe’s two biggest auto markets raced apart at the start of what could be another tough year, data showed on Monday.

The storm gathers apace.

Good news here in the UK then.

For the Green Tendency, less of those nasty cars.

[lowrentyieldmakessense(honest!)]

Ahemm.

German Real Estate Crisis

[Come On Down]

Germans don't go house mad like us, they rent with joyful abandon! That affords them a better lifestyle and ability to buy a nice motor every now and then. UK should follow the lead and get used to renting as an acceptable lifestyle. "Every Englishman's home is his castle" applied to the Earls and Barons of the middle ages.

I have been renting after selling up in late 2003 and am just getting used to it as a lifestyle option. It is not at all bad especially when your STR proceeds cover the rent.

Have you got a family RealistBear?

Renting is all very well unless you have a family.

I'd rather not live under the threat of being asked to move when someone wants to sell up all the time?

This is one of the reasons why people like their own home.

[MarkG]

I'd rather not live under the threat of being asked to move when someone wants to sell up all the time?

That's the difference: Germans have a ton of tenant protection laws, so they don't need to worry about buying a house.

[gilf]

Have you got a family RealistBear?

Renting is all very well unless you have a family.

I'd rather not live under the threat of being asked to move when someone wants to sell up all the time?

This is one of the reasons why people like their own home.

I really don't see how having a family is any problem, in many cases it gives much greater flexibility to move around to meet the needs of the family, schools and such.

I've rented for a while and to be honest not once have I ever worried about my landlord selling up. There are far more things to be worried about when owning a house than renting one. As a home owner there were always things going wrong with my house, boilers, fence falling down, leaky roof etc etc as a renter thats for the Landlord to worry about.

Edited February 6, 2006 by gilf

[Realistbear]

Have you got a family RealistBear?

Renting is all very well unless you have a family.

I'd rather not live under the threat of being asked to move when someone wants to sell up all the time?

This is one of the reasons why people like their own home.

Just me and trouble and strife, dustbins are on their own now. We found a long-term rental where the owner has plans to move into it in about 10 years. I agree, short term renting is very disruptive and most smaller properties probably have a high turnover rate. We will probably start looking to buy again when prioces are down 40% in our area--10% so far with 30% to go.

I can see with the looming BTL crisis that there may be a lot of instability in the rental market as BTLers seek to off-load properties that are dropping in value or have a negative return on investment (over 80% of them?).

Edited February 6, 2006 by Realistbear

[Come On Down]

I really don't see how having a family is any problem, in many cases it gives much greater flexibility to move around to meet the needs of the family, schools and such.

I've rented for a while and to be honest not once have I ever worried about my landlord selling up. There are far more things to be worried about when owning a house than renting one. As a home owner there were always things going wrong with my house, boilers, fence falling down, leaky roof etc etc as a renter thats for the Landlord to worry about.

Have you got a family gilf?

[Guest Bart of Darkness]

New Car Sales Drop A Huge 13% In January, Another sign of a faltering economy

I think you'll find that it's more a sign that NuLabour's message on energy conservation is getting through.

People are simply walking more/using public transport.

[Converted Lurker]

Too much money spent on housing, consumer economy too reliant on equity withdrawal. Housing WILL kill the consumer economy.

The amount of folk I regularly come across wanting to bail out of the, for example, 5 year old Jag XK8 parked outside the non descript newish build 2 up 2 down semi is staggering. They`ve mewed to the max, and now the car, in the main still on finance with settlements in a lot of case more than the car is worth, has to go. The lifestyle statement game is over...Muppets

[dogbox]

I think you'll find that it's more a sign that NuLabour's message on energy conservation is getting through.

People are simply walking more/using public transport.

Saw Top Gear last night. I seem to have outgrown the fast car thing (had an Audi 4.2 S4 but got bored and felt guilty about emissions), all so banal and pointless really, grown Men fretting over whether a Porshe is slightly quicker than an Aston.

Bring on the electric car, and so what if its a bit slow. Who needs petrol?

[The Masked Tulip]

Come on people - the Spring bounce in car sales is just a few weeks away... We all need more than 2 or 3 BMW 4X4s in our lives... Go out and MEW to buy that new Merc 4X4 for the missus... You know she will love you all the more for it!

[AteMoose]

Saw Top Gear last night. I seem to have outgrown the fast car thing (had an Audi 4.2 S4 but got bored and felt guilty about emissions), all so banal and pointless really, grown Men fretting over whether a Porshe is slightly quicker than an Aston.

Bring on the electric car, and so what if its a bit slow. Who needs petrol?

Slow? Hmm you must be thinking of old electric cars.

http://www.commutercars.com/

Electric car, looks more pants than a smart car but...... it outruns a Porche.

As far as performance goes, the Tango is no slouch. Since electric cars--especially small ones--are generally thought to be slow and weak performers we set out to blow some minds by designing the Tango to accelerate through the standing 1/4 mile in 12 seconds at over 120 mph and travel from 0 to 60 mph in 4 seconds

Edited February 6, 2006 by moosetea

[BuyingBear]

Saw Top Gear last night. I seem to have outgrown the fast car thing (had an Audi 4.2 S4 but got bored and felt guilty about emissions), all so banal and pointless really, grown Men fretting over whether a Porshe is slightly quicker than an Aston.

I like Aston's actually, they're inoffensive and understated, a Porsche is guaranteed to mark you out as some to$$er from the 80's with a stupid brick phone, do they really expect people to be impressed when they tell them their optional brake pack cost more than their family car or the fact x is more powerful than the other car, the BMW M6-toll?!?

Take the following Aston parked in inner-city Birmingham, it blends right in and it's parked with consideration :-

Edited February 6, 2006 by BuyingBear

[messychopper]

Bring on the electric car, and so what if its a bit slow. Who needs petrol?

Most of the developed world

[kinesin]

On the same subject:

Insolvencies in the UK’s automotive industry at their highest since 2001

Press release dated: Thursday 19 January 2006

The number of motor traders going bust in 2005 was the highest since 2001, according to Experian®, the global information solutions company.

The total number of insolvencies in 2005 leapt by 7.9 per cent compared to 2004, from 241 to 260. This was despite a promising end to the year when they fell by 1.6 per cent between October and December, compared to the same period in 2004.

The number of failures among motor traders is the highest recorded since 2001 when the figure totalled 250. According to Experian, the number had started to fall during 2002 and 2003, but rose sharply in 2004 and is likely to continue into 2006.

The results are part of Experian’s survey of 34 industries in the UK, which revealed that 2005 has been a difficult year for the economy as corporate failures throughout these industries rose by 11 per cent, despite having fallen in the previous two years. It is the highest number of corporate failures recorded across the UK since 2002 and Experian has predicted an upward trend in 2006.

Rob Whalley, Managing Director of Experian’s Automotive division, said: “The automotive industry has been affected by a slowdown in consumer spending and by inflation. New car sales saw a 5 per cent drop in 2005 and forecasters are predicting a further 2.5 – 5 per cent drop in 2006. Coupled with manufacturers’ targets remaining high and more new models than ever before being launched, supply will continue to outweigh demand.

“The effect of this is that residual values will continue to fall, so the ability to make a profit will become even more important – and difficult – in 2006. Those dealers who understand their customers and use new and innovative methods to reach them will help to prevent them from appearing on the list of business failures in 2006.”

[Realistbear]

On the same subject:

Funny, haven't read this on the BBC website. A little too negative for Gordon's move into No. 10?

[MEtallic]

Not surprised! I was thinking the other day that there are plenty of 02, 03, 04 and 05 registered cars, but I have yet to see a single 06 registered one.

[BuyingBear]

Not surprised! I was thinking the other day that there are plenty of 02, 03, 04 and 05 registered cars, but I have yet to see a single 06 registered one.

I'm not surpised, considering they're not out until the start of next month an 06 plate would be just slightly illegal.

[Realistbear]

I'm not surpised, considering they're not out until the start of next month an 06 plate would be just slightly illegal.

I see very few 55 plates around--just a few BMW and Merc SUVs that drift over this way from the Cotswolds.

[Bingley Bloke]

I think the issue with car sales is partly to do with the fact that everyone's skint after Christmas and people are holding out for the new 06 plates in March, but I don't doubt that sales will still be down on last year come March.

The amount of folk I regularly come across wanting to bail out of the, for example, 5 year old Jag XK8 parked outside the non descript newish build 2 up 2 down semi is staggering. They`ve mewed to the max, and now the car, in the main still on finance with settlements in a lot of case more than the car is worth, has to go. The lifestyle statement game is over...Muppets

I said something similar in the 'What's Your Bell-weather?' thread. I am a Ferrari enthusiast and I'm always watching the prices of used Ferraris in Top Marques magazine and on the Auto Trader and eBay sites. The number of Ferraris that I've seen appear in the last year photographed outside suburban semis that have clearly been MEWed to pay for these cars is quite staggering. With soaring living costs and cheap mortgage deals ending these wannabe rich folk are obviously finding it hard to run these cars and are having to get rid.

Germans don't go house mad like us, they rent with joyful abandon! That affords them a better lifestyle and ability to buy a nice motor every now and then. UK should follow the lead and get used to renting as an acceptable lifestyle. "Every Englishman's home is his castle" applied to the Earls and Barons of the middle ages.

I have been renting after selling up in late 2003 and am just getting used to it as a lifestyle option. It is not at all bad especially when your STR proceeds cover the rent.

I have to disagree about renting. In my area it costs considerably more to rent than it does to buy like for like. Since the bank won't lend me more than about half what it would cost me to buy, probably because they don't believe I could afford the repayments, I would be foolish to rent something for even more. Of course noone would stop me and if I were to eat cold food, leave the heating and the lights off permanently and start doing 'favours' for someone at the local council i could probably manage it, but I wouldn't call it a 'better lifestyle'.