 | Home > General & Technical (L663) > When are prices going to drop? |
 
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| Cheshire110 Member Since: 26 Jul 2013 Location: Cheshire/London Posts: 2755  
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Wouldn’t bet on Omicron being bad for prices.
Just means more supply disruption potentially, more people ditching public transport again, and more people saving money working from home… Cheers, David Land Rovers of all shapes S3 onwards… Daily is a 110 V8. |
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11th Dec 2021 9:39am |
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| lightning Member Since: 23 Apr 2009 Location: High Peak, Derbyshire Posts: 2772
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Defender prices won't drop, because people are snowing into the dealerships and paying current prices. Why would LR lower them?
What will happen is, the premium being charged for used and pre registered Defenders will end, and you will be able to buy a used one for less than the list price. But it will be a while before that happens. |
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29th Jan 2022 5:06pm |
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| J77 Member Since: 04 Nov 2019 Location: Fife Posts: 3395 
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It’s up again, now £54,330, mine cost £49k or just under including options. 24MY 90 D250 HSE, Tasman Blue |
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29th Jan 2022 5:33pm |
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| XplusYplusZ Member Since: 16 Aug 2021 Location: UK Posts: 485 |
I think we're going through a significant change in new car technology (hybrid/ev/hydrogen). With new tooling, new supply chains, etc there's a lot to learn and manufacturers can't just lean on the decades of experience to drive prices down. I suspect new car prices are going to increase for the foreseeable future.
Second hand is more interesting. I was listening to a podcast last night with a second hand luxury car dealer, discussing the dynamics of the UK market with JLR products as an example. The dealer isn't affiliated with any manufacturers, and these were just his observations as a dealer, but there were a few interesting take-aways: 1. The manufacturers drive the second hand market based on their levels of supply of new cars. Simple supply and demand principles. 2. The chip shortage (and also some parts shortages due to brexit) is throttling supply of new cars, and hence driving up the second hand market. 3. If the second hand market inflates too much and approaches (or exceeds) retail price, it begins to regulate itself, with prospective buyers either downgrading to a lower model, different manufacturer or not buying at all and waiting for a new one. 4. Manufacturers produce multiple models in the same facility. So if a manufacturer doesn't have enough parts to make all the vehicles they need to, they are faced with a choice of choosing to make a lower profit margin model, or a higher profit margin model. (eg, £15k for an evoque, or £30k for a range rover). Given that they are making losses due to large overheads and throttled production, whilst sad, they need to protect their business and hence the higher profit margins/more important vehicles probably are being prioritised to keep the businesses afloat. 5. The dealer believed the market was softening. Still high, but not as crazy as it was a few months ago. Dealers may have initially benefitted from the surge in second hand prices, but it sounded like they're starting to grow a little more cautious and maybe not speculating as much as they were doing. With these points in mind, and coming back to the OP's question; even if all chips required became available tomorrow, and factories were able to return to full production, there's still 3-4 times the regular amount of orders in the books. So the recovery will take multiple months AFTER the semiconductor shortage normalises. My guess is that it'll be a few more months before the semi conductor issues are resolved, and then another 6-9 months after that before factories can get themselves back on track. So the second hand market will slowly improve, but it won't be back to what it was until maybe Q1/Q2 2023? At which point you'll see more and more cars being banned from ULEZ's and the electric only pressure increasing - which will likely drive up reasonably new second hand ICE cars.. |
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1st Feb 2022 10:46am |
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| Farmerben Member Since: 16 Jan 2017 Location: Herefordshire Posts: 605 
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Duckworths have a fairly basic HT 90 with 10k on the clock for £64k+VAT or £76,800 inc. Think that's the highest I've seen a non-pimped 90 HT advertised for. Mine that is arriving next month has a few more boxes ticked and it under £50k including VAT. Prices certainly aren't dropping for hard tops. https://instagram.com/bentheoandrews
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1st Feb 2022 11:35am |
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| J77 Member Since: 04 Nov 2019 Location: Fife Posts: 3395
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WBAC now offering £57k for my 90. Settle the finance and that will give me £10k+ in my hand. 24MY 90 D250 HSE, Tasman Blue
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9th Feb 2022 5:47pm |
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| pjm-84 Member Since: 12 Apr 2021 Location: Hampshire Posts: 661
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Do it, buy a Volvo, and order another one.
Just don't go petrol otherwise you'll have a long wait. |
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9th Feb 2022 5:54pm |
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| J77 Member Since: 04 Nov 2019 Location: Fife Posts: 3395
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It’s tempting, but currently nothing in the LR range I’d have. 90 only available in HSE spec and I don’t see what it brings over my S. 24MY 90 D250 HSE, Tasman Blue
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10th Feb 2022 9:25am |
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