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Today's Times reports some second-hand cars cost more than new


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  • Gold FFM

That could very well be. There is an Audi factory close by (mainly A1 I think), cars are transported by train to the importer and further distribution probably takes a while.

I have made many mistakes in my life. Buying a multiple Lotus is not one of them.

 

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  • Gold FFM

Went past avonmouth docks on the motorway today. The huge parking lots that are normally rammed with new cars are empty - next to nothing anywhere.

Only here once

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  • 2 weeks later...

Good old BBC only 3 months behind the news when it happens! For everyone's information the market has stabilised now but at a much higher level. Nearly New (3 to 12 months) are actually only slightly behind new car pricing. Discounts on new don't happen as there are none being built and if you want a new car some models and brands have waiting lists well into next summer. We have some large 4x4's that were ordered in May 2021 and still don't even have a build date, we won't see those till March maybe even a year from order date! https://www.bbc.co.uk/news/business-58993851

Possibly save your life. Check out this website.
http://everyman-campaign.org/

 

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*****

FIRST MICROCHIPS, NOW MAGNESIUM
'COMPLETE EUROPEAN AUTOMOBILE INDUSTRY MAY STOP DURING SHORTAGES'

It has been crises saving lately, also in the car industry. In addition to the chip shortage, there is now a shortage of a material that the car industry cannot do without: magnesium. Experts take into account quite a doomsday scenario.

The lost car production due to lockdowns has already been completely overshadowed by the effect of the global chip shortage. As a result, the car industry is already largely on hiatus and hordes of people worldwide are waiting a long time for their new car. Just when you think it couldn't get any worse, it threatens to go one step further. Industry analysts are sounding the alarm about magnesium deliveries from China in conversation with the Financial Times.

Magnesium is essential in the production of aluminum, which in turn is needed on a large scale for building cars. Without magnesium, therefore, no cars. By far the most magnesium for the European car industry comes from China. However, there is an energy crisis and factories are now also temporarily closed. The magnesium industry is also being hit hard by this and industry analyst Amos Fletcher of research firm Barclays outlines that this could have huge consequences in a short time: "If the magnesium supply stops, the entire car industry could be forced to shut down."


According to Fletcher, this could still happen this year, according to the words of the German association of metal producers, WVM. That warns, according to Reuters. that stocks can quickly dwindle. "Current stocks in Germany and all of Europe will be exhausted by the end of November." Only 15 of the 50 magnesium plants in China are now said to be operational, even at half power. If it stays that way long enough, it may become even quieter in the car factories. WVM: "With a bottleneck of such proportions in the supply, there is a threat of huge production loss in all sectors in the aluminum chain, such as the car industry (...)."

Google translation: https://www.autoweek.nl/autonieuws/artikel/complete-europese-auto-industrie-kan-stilvallen-door-tekorten/

 

Edited by rudolphwolven
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It’s amazing really. For decades the automotive giants have been screwing the global supply chain with year-on-year price reductions and OTT penalty clauses for even slightly late deliveries. God help any supplier who ever brought a production line to a stop, no matter what the reason.

Now the shoe really is on the other foot, as their once all-powerful Purchasing Departments scratch around for components seemingly at any price.

Lotus certainly picked an ideal time to stop production in advance of tooling up for the Emira. Let’s hope things improve a little next year.

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No loss there @jonwat:) 

  • Haha 2

Possibly save your life. Check out this website.
http://everyman-campaign.org/

 

Distributor for 'Every Male' grooming products. (Discounts for any TLF members hairier than I am!)

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  • 4 weeks later...

Parts shortage - 

Suzuki GB plan to import 4,000 incomplete cars.....

https://www.am-online.com/news/manufacturer/2021/11/22/suzuki-gb-plan-to-import-4-000-incomplete-cars-will-pay-off-for-dealers

Suzuki GB’s decision to import cars left incomplete due to the shortage of semiconductor microchips is set to give dealers access to 4,000 vehicles they would not otherwise have had......

......And Wyatt told AM that a decision to import thousands of incomplete cars to the UK and source his own infotainment systems locally would now bear fruit, with retailers destined to receive vehicle within weeks.

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  • 2 weeks later...

Today's Times reports it's still happening 

In the latest signs of the upheaval in the car market, figures show that 25 per cent of “nearly new” cars are more expensive than their brand new equivalents. This has been the result of computer chip shortages reducing production volumes and unfulfilled consumer demand exacerbated by buyers coming out of their three-year payment plans signed before the pandemic.

A report by Auto Trader, the motor-dealing website, found that of 900,000 vehicles going through its portals, the average price of a used car had risen on a like-for-like basis by 28 per cent over the past year to £17,366.

 

if only I'd bought shares in chip manufacturers 😃

Cheers,

John W

http://jonwatkins.co.uk

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