bobdylan Posted February 4, 2005 Share Posted February 4, 2005 Looks like private car sales have fallen off the edge of a cliff. See BBC article here: http://news.bbc.co.uk/1/hi/business/4236235.stm Quote Link to comment Share on other sites More sharing options...
zzg113 Posted February 4, 2005 Share Posted February 4, 2005 It's all happening exactly as we thought it would, down to the finest detail. No more MEW=no more buying flash cars/ SUV's off the equity in your house. Quote Link to comment Share on other sites More sharing options...
Bear Goggles Posted February 4, 2005 Share Posted February 4, 2005 That is one hell of a fall. New cars are the number 1 MEW purchase, It'll be interesting to see what goes over next holiday bookings? DIY purchases? What's the MEW number 2? Quote Link to comment Share on other sites More sharing options...
Van Posted February 4, 2005 Share Posted February 4, 2005 That is one hell of a fall.New cars are the number 1 MEW purchase, It'll be interesting to see what goes over next holiday bookings? DIY purchases? What's the MEW number 2? <{POST_SNAPBACK}> New kitchens and other household improvements must be high on the list, which aren't strictly MEW by BoE definition as it is reinvested into the housing stock, but this won't be any consolation to MFI and DFS. Quote Link to comment Share on other sites More sharing options...
Guest consa Posted February 4, 2005 Share Posted February 4, 2005 That is one hell of a fall.New cars are the number 1 MEW purchase, It'll be interesting to see what goes over next holiday bookings? DIY purchases? What's the MEW number 2? <{POST_SNAPBACK}> No!! Property abroad the no 1 MEW. Quote Link to comment Share on other sites More sharing options...
zzg113 Posted February 4, 2005 Share Posted February 4, 2005 What's the MEW number 2? I think luxury holidays will be the next to go. Look out for travel industry profit warnings. Quote Link to comment Share on other sites More sharing options...
Bear Goggles Posted February 4, 2005 Share Posted February 4, 2005 No!! Property abroad the no 1 MEW.<{POST_SNAPBACK}> God damit, I think you're right! Watchout Spain!!! Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 4, 2005 Share Posted February 4, 2005 It's all happening exactly as we thought it would, down to the finest detail. No more MEW=no more buying flash cars/ SUV's off the equity in your house.<{POST_SNAPBACK}> Jump ahead 6 months: What Equity? Wuh huh huh huh (evil Laugh)! Quote Link to comment Share on other sites More sharing options...
Guest consa Posted February 4, 2005 Share Posted February 4, 2005 Jump ahead 6 months: What Equity? Wuh huh huh huh (evil Laugh)!   <{POST_SNAPBACK}> New name for it could be Debtquity!! Quote Link to comment Share on other sites More sharing options...
Guest consa Posted February 4, 2005 Share Posted February 4, 2005 New name for it could be Debtquity!! <{POST_SNAPBACK}> Latin version = Debtquitius Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 4, 2005 Share Posted February 4, 2005 Latin version = Debtquitius<{POST_SNAPBACK}> U.S. version: deep doo doo Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted February 4, 2005 Share Posted February 4, 2005 I do have to change my car this Spring - can't put it off much longer - so this is good news. I believe second hand prices are falling through the floor also. Quote Link to comment Share on other sites More sharing options...
eek Posted February 4, 2005 Share Posted February 4, 2005 I do have to change my car this Spring - can't put it off much longer - so this is good news. I believe second hand prices are falling through the floor also.<{POST_SNAPBACK}> Reg Vardy currently have a near enough near Renault Modus. Launched in September it cost £12,500 new. Yours for £8,300. Quote Link to comment Share on other sites More sharing options...
Randall Herbert Posted February 4, 2005 Share Posted February 4, 2005 Reg Vardy currently have a near enough near Renault Modus. Launched in September it cost £12,500 new. Yours for £8,300.<{POST_SNAPBACK}> I have been waiting for B&Q to falter for some time now..... Fall in lending was my first marker. Shouldn't be too long now before they can't avoid looking officially quiet as they were today. After a lunchtime saunter around the leting agencies in Aberdeen today I can confirm that the city is 'awash' with one bedroom and two bedroom flats available to rent tommorow. Quiate a few come with incentives such as DVD player and tv combo and Skybox. Not quite the healthy market TTRTR portrays............ in his mind that is. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted February 4, 2005 Share Posted February 4, 2005 Yes, if you look at sites like Whatcar and Parkers they will show you that many cars now lose HALF their value in the first 12 months. It is staggering. Many others lose a third. Your typical new family car costing about 15K will be worth a third of that in 3 years. A friend recently bought a 2001 Avensis, old model, for 6K whereas back in late 2001 itwas 16K. You can get top of the range Mondeo Ghias at 1 year old for 10K and 1 year old Avensis, new model, for 11 - 12K. The Vectra can be got at 1 year old for about 8K which is a full HALF of it's new price. The BMW 3 Series is interesting - more of them are now sold in the UK than Mondeos which says an awful lot about what has been going on in the UK economy of late. Again, the 12 month old value of these, which used to hold up, is now plummeting. Quote Link to comment Share on other sites More sharing options...
bobdylan Posted February 4, 2005 Author Share Posted February 4, 2005 The BMW 3 Series is interesting - more of them are now sold in the UK than Mondeos <{POST_SNAPBACK}> Don't think so. According to SMMT figures for Jan 2005, 5394 mondeos were sold compared to a total of 4434 BMWs (all BMWs, not just 3 series). Quote Link to comment Share on other sites More sharing options...
88Crash Posted February 4, 2005 Share Posted February 4, 2005 That is one hell of a fall.New cars are the number 1 MEW purchase, It'll be interesting to see what goes over next holiday bookings? DIY purchases? What's the MEW number 2? <{POST_SNAPBACK}> I think you'll find home improvements (new kitchens, extentions etc,) I was told by a colleague who designs kitchens that he is losing sales due to a hold in in planning approval Haven't checked the figures myself, but he told me that planning applications are at their highest level since the late eighties/early nineties From memory that was just about the time of the last HPC Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 4, 2005 Share Posted February 4, 2005 I think you'll find home improvements (new kitchens, extentions etc,)I was told by a colleague who designs kitchens that he is losing sales due to a hold in in planning approval Haven't checked the figures myself, but he told me that planning applications are at their highest level since the late eighties/early nineties From memory that was just about the time of the last HPC <{POST_SNAPBACK}> Spending is like a drug. MEW is addicting because of the "risk" aspect. Shopaholicism is a real disease. Constant fixes are needed. Can't sell the home, don't worry you can always spend more money by adding a little stone cladding to the outside or a faux gable over the front door! Major Equity Withdrawal? House prices are a matter of opinion, whereas debt is real. Merv King, BoE, 2004 Quote Link to comment Share on other sites More sharing options...
jpjh Posted February 5, 2005 Share Posted February 5, 2005 Haven't checked the figures myself, but he told me that planning applications are at their highest level since the late eighties/early nineties<{POST_SNAPBACK}> This derives from two effects 1. Can't move so lets fix up the family nest (and has all been done on MEW / credit cards) You will get a lot more of this as people with additions to the family will convert lofts (the number of loft conversions down our road in the last year is outstanding..must be 50% of the housing stock now) 2. Let's move but first we need to sort out that shabby kitchen / store room / conservatory...or extend the loft and call it an extra bedroom with on suite. All signs it's about to go horribly wrong. Just have to wait for the election + a couple of months for it to get up to full speed and then can start putting in really stupid offers (around 30 - 50 % below asking) Quote Link to comment Share on other sites More sharing options...
oracle Posted February 5, 2005 Share Posted February 5, 2005 MEW in terms of value is roughly in this order.not neccesarily in terms of popularity..if that is the yardstick then MEW2 is top. MEW1 is BTL,holiday home(70k-150k) MEW2 is new car(15-30k roughly) MEW 3 is home improvements...new extensions/kitchens. big ticket purchase,both of these will set you back 15k+for extension 6k for kitchen approx. both of these will have knock-on effects for construction workers/fitters. MEW 4 is long-haul package holidays.(3k for family of 4) MEW 5 is new consumer goods+peripherals...this is really a mixture of small value items,mostly electrical goods like fridge-freezers+pc's and usually bought with the capital from MEW in combination with one of the top 3. a small minority choose to MEW for fees to send their kids to a good public school but these are a rare breed and run against the trend by investing in the future(of their children).I think the stats are pretty plain,most folk blow all their money on the here-and-now. some MEW are already in debt so they MEW further to consolidate,but don't usually curb their free-spending habits.These guys are in deep sh1t!!! Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted February 5, 2005 Share Posted February 5, 2005 Don't think so. According to SMMT figures for Jan 2005, 5394 mondeos were sold compared to a total of 4434 BMWs (all BMWs, not just 3 series). Are you an EA? Do you usually take one month's figures and believe that is the absolute info? I much prefer to take multiple sources of info, Parkers and Whactar being but two of the most respected, and make my own mind up. Both comment on how more BMW 3 are now sold in the UK last year than Mondeos - both in the new and secondhand market. The BMW 3 is, no matter what any BMW 3 owner might like to think, a more common car than a Mondeo. In this month's Whatcar an article on the numbers of BMW 3 series available comments: "...BMW seems to be going for market share and residuals are nothing like they were. The best deals can be had on the 316, 318 and 320, which lose 34% of their value in the first year, but all petrol and Touring models depricate heavilly." The interesting thing about the big increase in BMW 3 sales in the UK in recent years is that: 1. The BMW 3 is quite a dated car now, with a replacement due this Summer, but, oddly, as the current 3 has come to the end of its life it has seen sales soar. So alot of people have been buying into a car which is very old hat in terms of technology. That cockpit is very dated indeed. Also, in the last JD Power reliability survey BMW were in the BOTTOM half. 2. So many people moving 'upmarket' to a BMW in the hope to avoid the depreciation that some other makes suffer, (OK, many also wanted the BMW snob feeling), have actually caused the very depreciation they had aimed to avoid - that and the fact that BMW sales people now have very high volume targets - which is both ironic and hilarious! Quote Link to comment Share on other sites More sharing options...
VacantPossession Posted February 5, 2005 Share Posted February 5, 2005 ......you can always spend more money by adding a little stone cladding to the outside or a faux gable over the front door! <{POST_SNAPBACK}> Arghh!!! Stone Cladding. That alone could cause a price crash! VacantPossession Quote Link to comment Share on other sites More sharing options...
bobdylan Posted February 5, 2005 Author Share Posted February 5, 2005 Are you an EA? Do you usually take one month's figures and believe that is the absolute info? <{POST_SNAPBACK}> Here are the sales figures for all of 2004, by model. Source is the SMMT. Notice that the Mondeo appears in this list, but the BMW 3 series does not. Focus 141,021 Corsa 101,625 Fiesta 89,295 206 86,605 Mégane 86,569 Astra 85,087 Clio 72,412 Golf 69,784 Mondeo 60,441 307 58,742 Probably what you read in What Car, Parkers etc is that *private* buyers buy more 3 series than Mondeos, which may be true. But the Mondeo is still a more common car on our roads, due to its popularity with fleet buyers. Quote Link to comment Share on other sites More sharing options...
sneaky_snookems Posted February 5, 2005 Share Posted February 5, 2005 In our garage we have had a influx of people trying to downsize their cars lately. Or trying to re-sell them to pay off finance. They look very worried when they are informed we aren't increasing our stock at present due to a slowdown in sales. Thankfully the workshop is busy so their is money coming in. But the tale tale sign of missed servicing is coming back which we saw in the early 1990's. Looks to me like money is getting tight on the car front. Quote Link to comment Share on other sites More sharing options...
Wuluf Posted February 5, 2005 Share Posted February 5, 2005 Are you an EA? Do you usually take one month's figures and believe that is the absolute info? I much prefer to take multiple sources of info, Parkers and Whactar being but two of the most respected, and make my own mind up. Both comment on how more BMW 3 are now sold in the UK last year than Mondeos - both in the new and secondhand market. The BMW 3 is, no matter what any BMW 3 owner might like to think, a more common car than a Mondeo.In this month's Whatcar an article on the numbers of BMW 3 series available comments: "...BMW seems to be going for market share and residuals are nothing like they were. The best deals can be had on the 316, 318 and 320, which lose 34% of their value in the first year, but all petrol and Touring models depricate heavilly." The interesting thing about the big increase in BMW 3 sales in the UK in recent years is that: 1. The BMW 3 is quite a dated car now, with a replacement due this Summer, but, oddly, as the current 3 has come to the end of its life it has seen sales soar. So alot of people have been buying into a car which is very old hat in terms of technology. That cockpit is very dated indeed. Also, in the last JD Power reliability survey BMW were in the BOTTOM half. 2. So many people moving 'upmarket' to a BMW in the hope to avoid the depreciation that some other makes suffer, (OK, many also wanted the BMW snob feeling), have actually caused the very depreciation they had aimed to avoid - that and the fact that BMW sales people now have very high volume targets - which is both ironic and hilarious! <{POST_SNAPBACK}> I think you will find that the figures showing that more BMW 3's sell than Mondeos refers to private sales. And I would imagine that any BMW would be much nicer to drive fast than a Mondeo - no matter how many other people have them Quote Link to comment Share on other sites More sharing options...
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