GE Money and GMAC to leave OZ market

[rjastra]

http://www.mellor.net/mellor/enews.nsf/edition/8AECA387383A026CCA2574F00021D52C/$file/GoAutoNews_457.pdf

Wraith was correct. This could be very very hard times for some Holden dealers. They may be left with no way to finance their floor stock.

Expect good deals on holdens at some dealers very very soon.

[Wraith]

I think it is very predictable that in the current and forthcoming economic climate, expensive and/or unnecessary expensive commodities are the 1st industries to suffer...

So car sales, travel/tourism etc. will be hit hardest and earliest.

If GMH are going to be struggling, I really wonder how the more expensive prestige brands will do ??

I still havn't been given the 'hard sell' or offered any special incentives by the Audi dealer I dealt with when test driving the new TTS...

I'll wait with interest to see how they're doing by the end of this year and into next year ;)

Certainly ATM if your all cashed up and/or have job/cash flow security, it's a good time to buy property and/or vehicles, but conversely a bad time to sell, especially property !

[Ice]

Ive seen some of the sales reports here at Mercedes and they have had their best month so far this year ! ?????

[Wraith]

Ive seen some of the sales reports here at Mercedes and they have had their best month so far this year ! ?????

I think you'll find that - that's due to the recent increase in LCT (luxury car tax) from 25-33% which came into effect mid year !

Alot of prestige car buyers rushed in before that and placed their orders not to be slugged by the extra 8%...

We're now in October, so alot of those purchases/orders will be arriving now (usually a 3-6 months wait on Euro prestige makes) so people will be taking delivery around these coming months...

Also maybe the case of special deals already begun ATM with the Merc. group, I know some BMW dealers were offering special deals on some of their line up last month and GMH are currently selling new VE SS Commodores for under 47k drive-away :)

[Ice]

Thought youde have the answer and it sounds about right. when that luxury tax went up, MBFS (Mercedes-Benz Financial services) had a crisis meeting as to what measures to take to increase their sales. Ill try find out more if i can but seeing as im IT, they tell me squat.

[rjastra]

Just wait until local importers have to start buying in stock with the AUD at the low 60US cent mark.

[Wraith]

Thought youde have the answer and it sounds about right. when that luxury tax went up, MBFS (Mercedes-Benz Financial services) had a crisis meeting as to what measures to take to increase their sales. Ill try find out more if i can but seeing as im IT, they tell me squat.

Well then ICE, what you should do is with your IT skills 'hack into' the appropriate information computer drives/files and find out for yourself :D

[Wraith]

Just wait until local importers have to start buying in stock with the AUD at the low 60US cent mark.

Hmmm, just thinking about that, wonder if that will actually cause local pricing to rise rather than drop, therefore they won't be able to give discounts despite tough times :confused:

[Ice]

Well then ICE, what you should do is with your IT skills 'hack into' the appropriate information computer drives/files and find out for yourself :D

no skills involved for that one...... its called honesty.

\\53.245.238.22\c$ (file://\\53.245.238.22\c$) and bobs your uncle, haha

[Wraith]

no skills involved for that one...... its called honesty.

\\53.245.238.22\c$ (file://\\53.245.238.22\c$) and bobs your uncle, haha

Your a good man ;)

BTW what's that bit of code string above do ?? :)

[rjastra]

Hmmm, just thinking about that, wonder if that will actually cause local pricing to rise rather than drop, therefore they won't be able to give discounts despite tough times :confused:

IN the mid term you should see prices rise. But I would think prices should be stable on stock already purchased at the older currency rate. I assume importers hedge their risks.

I can see Jan 2009 being the best time in ages for purchasing a new car. 2008 stock being discounted and leases at their lowest rate in the last couple of years :)

[Ice]

Your a good man ;)

BTW what's that bit of code string above do ?? :)


its just someone's IP address mapped to their local C drive on the computer, we can do it to anyone Australia wide on the Mercedes domain. Its as easy as turning your key in the ignition, haha
But as I said its none of my business unless they ask me.

[Wraith]

IN the mid term you should see prices rise. But I would think prices should be stable on stock already purchased at the older currency rate. I assume importers hedge their risks.

I can see Jan 2009 being the best time in ages for purchasing a new car. 2008 stock being discounted and leases at their lowest rate in the last couple of years :)

I hope your right, as I for one will benefit if that's the case - but conversely if I order a new vehicle that has to be delivered from O/S it may end up costing more ??? with the deflated Aussie dollar, whilst ATM the Euro currency is holding strong...

[Wraith]

its just someone's IP address mapped to their local C drive on the computer, we can do it to anyone Australia wide on the Mercedes domain. Its as easy as turning your key in the ignition, haha
But as I said its none of my business unless they ask me.

Ah I see :)

I still reckon 'turn that key' :D

[Huhness]

I'd expect to see all imported cars prices rise by about 10%.. at least!

I did a check on my XR5 when $aus was strong an UK price was roughly the same as what we paid in australia. Now it is over $45K compared to $36K :eek:

The fiesta translates to 22K now for bottom of the line!

[Ice]

Ah I see :)

I still reckon 'turn that key' :D

NAH, Ive been there done that..... its all the same after a while, besdies im so flat out here i dont have time for snooping, ide rather jump on Opel Aus and write love letters...

[Shaun]

I'd expect to see all imported cars prices rise by about 10%.. at least!

I did a check on my XR5 when $aus was strong an UK price was roughly the same as what we paid in australia. Now it is over $45K compared to $36K :eek:

The fiesta translates to 22K now for bottom of the line!

Im not sure if you aware of it but Manfacturers are obtaining cars at a much lower cost then the dealers are purchase them for.

Manfacturers price on a XR5 T maybe in the mid to high $20k mark.

[Wraith]

ide rather jump on Opel Aus and write love letters...

Don't we all ;) :D

[Wraith]

I'd expect to see all imported cars prices rise by about 10%.. at least!

I did a check on my XR5 when $aus was strong an UK price was roughly the same as what we paid in australia. Now it is over $45K compared to $36K :eek:

The fiesta translates to 22K now for bottom of the line!

Have you checked what the actual price of the car is at a Ford dealership ??? last I checked it's still around 36k + ORC's...

The more I think about it the more I doubt car pricing will increase due to a weakening dollar vs the Euro or the U.K pound sterling.

Reason I believe so is because they will be definitely selling less cars over the next 12 months due the economic climate causing the public to buy less.

I believe dealers here will wear the cost differences in their profit margins, which with expensive imports is well up there and either keep pricing as is or lower it to attract business.

What we have ATM is a worsening economy with very low consumer confidence and spending - will cars become even more expensive ??? I really can't see that happening, dealer networks might as well bury themselves and shut shop...

[Wraith]

Just read a post in a thread on the BMW forum I'm a member of and one guy quoted from and article he read in last weekends Herald Sun that states now is one of the best times ever to buy a new car...

Something about how manufacturers are pumpimg money into the dealerships so that they can offer lower pricing to consumers to move stock, so that their production dosn't come to a halt !!!

Apparently this is across a broad spectrum of Worldwide car manufacturers...

I also read this morning that Mercedes finance on their vehicles can now be had for 4.5-5% down from around 9% not that long ago...

If I get a hold of the article I'll post it :)

[Wraith]

OK found the link - interesting read...

http://www.drive.com.au/Editorial/ArticleDetail.aspx?ArticleID=58228&vf=13

If anyone is in the market for a Ford, read the article - even the Focus (Huhness) GO FOR IT !!!