[Wivenhoe]

Photo today of just one site in the UK used by dealers for storing new and used cars. I somehow think that residuals will be effected ! There may well be similar sites elsewhere in the World.

[csm7djs]

Can’t read the full post but this is probably due to the dealers shifting their stock to off site storage.

From chatting with a few BMW dealers they have reported that used prices have stuck firm and actually seen an increase in demand with people stuck at home they seem to want to buy a new car.

[SBM1206]

Originally Posted by csm7djs

Can’t read the full post but this is probably due to the dealers shifting their stock to off site storage.

From chatting with a few BMW dealers they have reported that used prices have stuck firm and actually seen an increase in demand with people stuck at home they seem to want to buy a new car.

Yes, sure - when you are stuck at home you don't buy a big screen TV you can watch, you buy a car you cannot drive!
BTW, did you notice if the dealership people lips were moving? If so they probably were lying. Lying is what car dealers do for living.

[mjr24]

Most everyone is driving and has been for awhile now......

Quite honestly I think the financial effect of COVID was vastly overstated in the US. The Dow has gone way back up as well. Especially in light of the recent race issues and how quickly that made COVID a back-page story.....I think most people are hip to the idea that COVID was drastically over-sensationalized (now, granted, some states are still restricted a bit....).

No, we aren't at pre-COVID levels....but most people out there buying BMW's right now aren't hurting either money-wise.

BMW dealers have not been doing amazing deals because they don't have to.......they bet on this being a short-term economic issue and thus far that's all it's been. I suspect it will be business as usual by winter....and I feel that will be the time to get the best deals of the year still.

[csm7djs]

Originally Posted by SBM1206

Yes, sure - when you are stuck at home you don't buy a big screen TV you can watch, you buy a car you cannot drive!
BTW, did you notice if the dealership people lips were moving? If so they probably were lying. Lying is what car dealers do for living.

I assumed the same.

I mentioned used car sales, Not new car sales. Just read the motoring press.

[sjak92]

Originally Posted by csm7djs

Can’t read the full post but this is probably due to the dealers shifting their stock to off site storage.

From chatting with a few BMW dealers they have reported that used prices have stuck firm and actually seen an increase in demand with people stuck at home they seem to want to buy a new car.

That is the biggest load of nonsense I've heard a dealer say. I know they will say a lot to get a sale but come on! Clearly car sales have slowed down.

Economic hit or not from Covid-19 9 out of 10 people would think twice before parting with large amounts of money or signing up to credit agreements with so much uncertainty coming over the next months.

[crew09]

Originally Posted by sjak92

That is the biggest load of nonsense I've heard a dealer say. I know they will say a lot to get a sale but come on! Clearly car sales have slowed down.

Economic hit or not from Covid-19 9 out of 10 people would think twice before parting with large amounts of money or signing up to credit agreements with so much uncertainty coming over the next months.

I think demand is higher than expected with incentives, but a big part is the supply has become more constrained in the US. Car factories have been shut down, so dealers know they can potentially hold out for higher prices.

For used cars, the physical auctions have been shut down. So unless a dealer is getting lease returns, the inventory they have basically all there is going to be until they reopen.

https://www.usatoday.com/story/money...nt/5176653002/

https://www.forbes.com/sites/davidsi.../#1e05fdba8019