Quote:
Originally Posted by nstg8a
I think the last 12-18 months have been the perfect storm for second hand car prices.
You have covid, which has one on hand thrown a heap of unexpected cash into some people’s accounts, and on the other hand 400,000 ex pats came home, most of which probably needed a car or two... then there’s the supply issues facing new cars which meant long wait times so people either hung onto their trade in for longer or bought something second hand but newer instead of waiting 7-8 months for a new car.
Couple that with the effects of no local production really hitting the market, you see the effect on the market of being no cheap large cars any more. No 30-35k falcons or commodores... now we have corollas that are over 40k, average price of a Thai “ute” is probably close to 60k than 40k..
even shoddy Chinese imports are gaining acceptance, because of the high price of the alternatives.
I don’t think prices will drop either, buy now or pay more later.
Sent from my iPhone using Tapatalk
|
Spot on and very interesting the number of people coming back, have been trying to work out the actual number (hard) but it's pretty big. They have to live somewhere/buy something to run around in
Edit: in light of those new car prices, the base Outback at 41K really shows that Suby is serious about selling a few of them. So much more car for the money compared to the 40K Corolla or 35K Yaris. Have checked out new model and like it.
Quote:
|
Originally Posted by Yellow_Festiva
I'm wondering what actually caused the price surge?
At the bargain end of the market you would assume it was people wanting a runabout to avoid public transport.
But the surge is across all segments??
Doubt it was a supply issue of new stuff?
Most are far from collectable or rare??
I think once things go back to normal (we can travel and everyone is back to work etc) I'm thinking there will be a bigger flood of people wanting to offload these same cars at much cheaper prices.
|
Could be supply of new stuff - take this with the internet grain of salt, but little birds known to our fam have suggested shortages of new stock until mid year
This would cause a shortfall of stuff to sell, which would ripple through the used market and then cause the used car price chaos we have seen