| 03-07-2016, 02:04 AM | #2 |
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Second Lieutenant
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Very nice
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Current: 2020 MB M2cs, 2022 G50 X5e, 2008 4Runner
Past: a91 ref blue Zupra, 86 Starion, 350z, Supra TT Auto, Supra TT 6 spd, IM/IM E46 M3, BMW 1m Coupe x2, S2000, 987.2 CS, ND2 MX5, LSB e46 M3 x2, 993 911 |
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| 03-07-2016, 04:24 AM | #4 | |
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So first the price (All price will be in USD since most of you guys are in the states), when you buy a new car here in HK you have to pay almost double of what you pay in the states. For the 1M the price was a little over $54,000, the tax was about $38,000. Total price just over $92,000 for a brand new 1M. Now the HK market, I was hunting for a car for about a year. First a 964, then 993 and then had my eyes set on an E30 M3. Prices for the 964 ranged from $47,000 (OK condition, needs restoration) about a year ago to $71,000 now. Which is much higher than the states. For the E30 M3, right hand converted by Birds. I think was sold at $57,000 (it was also in ok condition, needs minor restoration). In my mind too expensive for a converted RHD one. For the 1M. About a year ago some sold at $80,000 also there weren’t that many on sale in HK. Now they are going about $70,000 with about 9 on sale now. So it’s still over the original price NOT including tax. But it dropped $10,000 in a year. I’m guessing the factor is the M2. That being said. I think the few people who own the 1M, really want the M2 now and they are selling (hence the reason more are up for sale) and driving the price down. Also there aren’t that many of 1M in HK, if I had to make a guess about 15 to 20 cars in HK (really no clue, local HK owners please chime in). Where will the price bottom out for HK? I’m guessing back to $54,000 is the lowest. But I think it will level off soon around here because of the “story” telling behind it. (See my other post). The story telling from this forum and then the occasionally reminder from websites like Jalopnik or youtube of how great BMW used to make cars and then mention the 1M. Hong Kong pricing is just different (higher) but the Hong Kong market does follow the world on the stories being told. IE E30 M3. Can the price go even lower than MSRP? Maybe, driving here is a luxury (Yes I know 1M is too) but you really don’t need a car in HK. Gas is expensive, parking is expensive, just owning a car is expensive – actually everything is expensive especially the rent. But people do own cars here. Will it go up in price? Maybe… Depends who will buy it. The rich? Not likely. They like flash. There are a lot of lambo, r8, 911, Ferraris here. The upper middle class? Most likely. The ones that want this car with just enough money to buy it. The middle class. Probably 50/50. Depends on the addiction of the 1M they have. Everyone else? Just look and hope it comes down. Anyway that is just my observation. Off to drive now!  |
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| 03-07-2016, 12:15 PM | #5 |
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I came from HK over 20 years ago and I wonder if I never moved to Canada, could I have afforded a car, let alone a 1M, and find roads to enjoy it without running into stupid street races and the cops. Congrats on your purchase
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| 03-07-2016, 02:50 PM | #6 |
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congrats on the new car
thats a good insight on the hk market. I normally head back to hk every year and i have noticed there isnt as many 1M on the roads now |
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| 03-08-2016, 12:13 AM | #8 | |
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| 03-08-2016, 12:27 AM | #10 | |
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 Anyway first day, I went on a drive from HK Island to Taipo to border of China and HK to the airport to Disney to Kowloon then back to HK Island. It was a nice drive but on parts of the freeway there were speed cameras every mile. So you speed then slow down. Top speed by law on that freeway is about 68MPH. On HK Island there are these backroads in the hills, like in LA but the roads are much tighter. When I find some more I let you know. Still getting use to the lay of the land now that I have a car. |
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| 03-08-2016, 01:55 AM | #11 |
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Try Tai Mo Shan mountain if you're in the N.T. area. I use to do a lot of midnight runs there. It's my favorite stretch of demanding mountain road in hk. Best experience on there was a 458, worse was an lp560-4. Z3 M roadster top down was the most fun.
Let me know how you feel after you try it. |
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| 03-09-2016, 05:42 AM | #12 | |
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I'm in this group, and the car sitting behind in the middle is mine....... |
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| 03-10-2016, 07:05 PM | #15 | |
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| 03-10-2016, 07:42 PM | #17 | |
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