OV9

Just reading this article on BBC about new car sales being the lowest since 1992. My last 2 cars I bought brand new, but to get the equivalent of my current car, is about an extra 10 grand now (128Ti compared to my 125i). Prices of new cars seems astronomical now! Looking at the BMW site, even the entry 1 series is more than I paid for my car in 2016. Crazy how much they've increased in a relatively short amount of time, but I'm guessing that's feeding into their decline (amongst other things).

https://www.bbc.co.uk/news/business-64165689

Tesla Model Y third best seller? They weren't even available until a couple of months into the year. Blimey.

Yay finance driving the prices up.

We will all be zombies to the pay per day in 20 years.

Dave!

I had a quite high spec skoda fabia a few years ago (2015) from new on finance. The full cash price was £16k including a couple of options plus metallic colour, 2023 equivalent spec in the new cars is over 22k

The most basic fabia with a wheezy asthmatic non turbo 1l engine is 17k

How much is inflation versus the amount of new tech all manufacturers are cramming in to their cars in terms of cameras, sensors, radar etc along with the software dev and screens associated with them?

Also I'm guessing the UK has its own unique economic factors to consider?

Since I ordered the Touring, the base price for new orders has gone up by 2K and BMW finance have upped their APR by 3%.

When I bought my M240i in 2017, with discounts they were £27k. New ones are now £48k (more than what an M2 competition was).

At this rate when the Tesla goes back end of next year, I'll be cycling to work

As mentioned elsewhere in the EQA250 thread, there aren't many discounts available on new cars. If they weren't selling, there'd be scope to haggle so I guess they must be. Looking at used prices which have been very strong for the last couple of years, I imagine PCP deals have much higher balloons in consequence. Also the price of EVs has doubtless made people get used to £40k-50k for a family car, so manufacturers are happy to boost the price of ICE cars to match.

I'm wondering if used prices will come down or are new car volumes low enough that supply/demand will stay level?

Maybe the fact that we're being buggered with fuel and inflation with no end in sight is the reason.

Leasing prices are similarly inflated too, there's no way I could get the same deal I'm on now. Genuinely concerned I might have to hand the EV back and stick with the old Civic while I consider options.

Truly think that a lot of companies are working on principal of "lets do less and charge more to keep our profits up". We had a great deal on our M2 comp and were thinking of changing it for the new M2. New M2 is more than 40% more expensive. Some price hike was to be expected, but 40% increase is just taking the piss. So no new M2 for us and one less new car sale.

Has there been any shift in the price of s/h cars? I know they held strong from 2021 into 2022, and I guess that slow sales of new cars would prop-up the s/h market too.

Just wondering if the price bubble that appeared during covid shows any signs of easing.

Gavster wrote: Fri Jan 06, 2023 7:27 am Just wondering if the price bubble that appeared during covid shows any signs of easing.

People are saying that it is, but I'm not seeing much evidence yet - a few Merc estates which were very optimistically priced with about 10% cut off. I'm keeping an eye on the used market nearly as keenly as I used to keep an eye on Rightmove; didn't buy any cars last year so I'm getting itchy

Jobbo wrote: Fri Jan 06, 2023 8:56 am

Gavster wrote: Fri Jan 06, 2023 7:27 am Just wondering if the price bubble that appeared during covid shows any signs of easing.

People are saying that it is, but I'm not seeing much evidence yet - a few Merc estates which were very optimistically priced with about 10% cut off. I'm keeping an eye on the used market nearly as keenly as I used to keep an eye on Rightmove; didn't buy any cars last year so I'm getting itchy

Buying cars is quite fun, especially when they're a good deal A Turo friend sold a couple of his cars around the start of 2022 because he was convinced the bubble was finishing, which obvs didn't happen. I'm still amazed at how strong prices are on 10 y/o cars whenever I do a search.