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Northern Ireland: 41% Increase In Sale Of Super Cars

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http://business.guardian.co.uk/story/0,,2161773,00.html

Supercar sales zoom in N Ireland
Terry "terence" Macalister
Tuesday September 4, 2007
The Guardian
The growing affluence of Northern Ireland in the aftermath of the Troubles was underlined yesterday when the Lookers car dealership network reported a 41% rise in first-half profits to £18.1m, helped by a significant boost in sales of high-performance sports cars.
The launch of models such as the
Aston Martin V8 Roadster and Maserati Quattroporte
Automatic helped sales at its Charles Hurst subsidiary, which reported record trading during the critical sales month of January in Northern Ireland, where house prices have also been soaring.
Despite five rises in interest rates hitting consumer confidence, Lookers remained upbeat about future trading with a good start to the second half.
There is a strong order book for top-class models arriving in the second half such as the Bentley Brooklands, Aston Martin DBS and Ferrari 430 Scuderia.

Given 73% HPI last year there must be a lot of cash ready and waiting to be invested in supercars in NI. If they get another good year Mercedes may get a bump with some more orders for the newly revised McLaren and Ferrari will have a ready demand for the F6 both of which will be competing for some of that Northern Irish equity release money. I am surpised Lockheed and Lear and not setting up shop in NI to market the latest in personal Jets to take them to hoiliday villas on Capri.

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http://business.guardian.co.uk/story/0,,2161773,00.html
Supercar sales zoom in N Ireland
Terry "terence" Macalister
Tuesday September 4, 2007
The Guardian
The growing affluence of Northern Ireland in the aftermath of the Troubles was underlined yesterday when the Lookers car dealership network reported a 41% rise in first-half profits to £18.1m, helped by a significant boost in sales of high-performance sports cars.
The launch of models such as the
Aston Martin V8 Roadster and Maserati Quattroporte
Automatic helped sales at its Charles Hurst subsidiary, which reported record trading during the critical sales month of January in Northern Ireland, where house prices have also been soaring.
From an earlier post (I haven't refined this analysis any further):
Major changes in ownership of Aston Martin tend to come before rocky times:
Founded 1914
1928 - sold to the Bertelli brothers, just before the 1929 stock market crash & start of the depression
1947 - sold to David Brown, start of the post-war consensus (the economy back then was dominated by post-war effects)
1972 - sold to William Willson - 1972 property crash and start of the 1970s bear market run
1980 - sold to Victor Gantlett (+ consortium) early 1980s recession
1987 - Ford took a major shareholding (leading to ownership) - housing crash in UK
2007 - sold to David Richards (+ consortium) - followed by......

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NI has always had a high per capita ownership of luxury cars, even during the troubles. Cheap housing, low rates, no water rates, no TV licence to pay etc made for a high personal disposable income.

You're joking, right? Only drug dealers and paramilitaries drove those cars.

Nowadays just MEW and fritter away your equity on a sports car! It'll only cost you 2x the purchase price over the life of your mortgage!

:lol:

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You're joking, right? Only drug dealers and paramilitaries drove those cars.

Nowadays just MEW and fritter away your equity on a sports car! It'll only cost you 2x the purchase price over the life of your mortgage!

:lol:

I was reading that house reposessions were up 30%. I would have thought that anyone facing financial difficulties will sell everything before risking losing the family home. Maybe it's just me, but I have noticed a lot of cars parked at the side of the road, with for sale signs recently. Though maybe this has more to do with the depressed second-hand car market - due to the amount of money (debt) in the economy at the moment - everyone is buying new cars. With the world credit crisis and the mortage resets happening in the next few months; there may be lot of luxury cars getting reposessed and sold of cheap. I seem to remember that the price of second-hand sports cars took a real dive in the early 90's as people could not afford the money needed to insure and run these luxury items. How would we track this indicator? Interesting times :unsure:

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Here's another angle, I definitely know of two families who have sold their houses and then rented them back, then one immediately appears with a new Subaru Imprezza and a new Superbike and the other wth a new BMW 4x4.

Sell house on the quiet to a BTL then rent back and flush equity down the crapperwith a rapidly depreciating asset to impress the neighbours, hoping they think you still own the house as well.

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This has just been mentioned on the 6.30pm NI BBC1 news. They stated the rise in sales of luxury cars was at least partly due to NI house prices.

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Makes you glad you live in the land of property millionaires <_<

Just proves what we all have known on here all along they are all MEWed up to the eyeballs, gonna be plenty of negative equity out there soon, that's if it's not there already.

The repo man cometh, should be plenty of cheap houses and luxury motors in the next few years just be patient, it's taking a bit longer to bite than we thought, but the bargains will be there for the prudent and patient

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Guest vicmac64
Just proves what we all have known on here all along they are all MEWed up to the eyeballs, gonna be plenty of negative equity out there soon, that's if it's not there already.

The repo man cometh, should be plenty of cheap houses and luxury motors in the next few years just be patient, it's taking a bit longer to bite than we thought, but the bargains will be there for the prudent and patient

Hey! patiently sitting here in NI waiting on - - - a a a a Firesale of Super Cars!! ha ha, but only after I've bought a couple of 'firesale' houses too!!

Proves what I've thought for a long time, there are a lot of 'morons' living the dream in Northern Ireland, up to their proverbial eyes in Debt and hoping that there big 'asset (house) will go up up up in price - even when they are falling. its hard to let go of dreams, long may they continue and then.....

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Guest vicmac64
Just proves what we all have known on here all along they are all MEWed up to the eyeballs, gonna be plenty of negative equity out there soon, that's if it's not there already.

The repo man cometh, should be plenty of cheap houses and luxury motors in the next few years just be patient, it's taking a bit longer to bite than we thought, but the bargains will be there for the prudent and patient

Neg Equ is here already - live and kicking hard! Houses are NOT SELLING! and there are an awful lot of them for sale compared to the beginning of the year. We have a saying 'longruns the fox' well the hounds have got the fox right now - guess whats coming?

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Wait... I seem to remember news like this before... now when was it?... oh, thats right, it was 1990 :o just before my English friends form university, were explaining negitive equity to me! :(

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Guest vicmac64
Wait... I seem to remember news like this before... now when was it?... oh, thats right, it was 1990 :o just before my English friends form university, were explaining negitive equity to me! :(

Yip - the headbangers that make up 70 % of the population in NI don't understand what the word 'moderation' means. Its excess the whole way, whether it be violence or property or fighting dogs or stoning fireengines or fraudulent claims or scamming the govt - the list goes on and on and on and on - anything except doing a decent days work!

This country so sickens me - more civil servants than private employees more claimants than workers - sooooooo many running around in cars that you and I bought them - imagine that - get a car for nothing scam!!!!!!

NI = Scammers Haven

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Guest vicmac64
You're joking, right? Only drug dealers and paramilitaries drove those cars.

Nowadays just MEW and fritter away your equity on a sports car! It'll only cost you 2x the purchase price over the life of your mortgage!

:lol:

No way - not those ones - might get them driving a Subaru or EVO though - Maseratis and Ferarris couldn't keep up with a good old Sub or Mitsubishi on NI roads!! ha ha

Only snobs buy maseratis.

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