CAR DEALERS DISAPPEARING! Car Market Faces Turmoil In 2024!
Vložit
- čas přidán 30. 05. 2024
- "Secure your privacy with Surfshark! Enter coupon code ShiftingMetal for an extra 3 months free at surfshark.deals/shiftingmetal".
30 day money back guarantee!
In today's video we talk about the state of the car market in 2024, why are dealers closing down and what can we expect to see as the year goes on?!
VEHICLE TRANSPORT QUOTES: berrowmotors.co.uk/transport
LAST WEEK'S Berrow Motors Weekly: • Growing pains - Seekin...
Behind the Scenes At G3 Car Auction UK : • Behind the Scenes At G...
Follow me on:
/ shifting_metal
search/top?q...
/ shifting.metal
berrowmotors.co.uk/
/ @realtorquepodcast
carsboughtformore.com/
🔔 SUBSCRIBE NOW! 🔔 3 VIDEOS EVERY WEEK! ✅
www.youtube.com/@ShiftingMeta...
Get 90% off a Quickbooks subscription for 7 months! : bit.ly/90off7months
#UsedCarMarketCrash
#AutoIndustryCollapse
#EconomicDownturn2024
#CarDepreciationCrisis
#BuyerBeware
#ResaleValuePlunge
#VehicleDevaluation
#RecessionRide
#MarketMeltdown
#SecondhandShakeup
#WorstYearForUsedCars
#TradeInTroubles
#AutomotiveDecline
#FinancialImpact2024
#PreOwnedPanic
#CarValueFreefall
#DismalResaleScenario
#RippleEffectOnCarSales
#ResaleMarketDisaster
#DrivenToDespair
#DealershipShutdown
#AutoRetailCollapse
#CarLotClosures
#EndOfTheRoadforDealers
#DealershipDoomsday
#AutomotiveRetailCrash
#CarSalesDespair
#ShowroomShutdown
#VehicleVendorVortex
#ClosingDoorsAutoBiz
"Car dealers disappearing"....possibly because the second hand cars are so BLOODY expensive! Ive got nearly 160k miles on my car. Usually I'd have traded it in, but I'm not paying silly money for a 5-6 year old motor. The fact that half the roads around my neck of the woods are like the moons craters is another factor.
Absolutely true second hand car r expensive I stop looking now and stared using my push bike
I bought a 1yr old car 11 years ago that was 40% less than new. Now it's only 10% less for a 1yr old car. It's why I've still got my old 12 year old car with 180,000miles on it. Not gonna change it until I have to.
@@danielbishop9077 That's the way forward matey! Old is the new "new".
bro my clapped out honda gave up the ghost and also my clapped out gixxer. i brought a 2011 audi from a work colleague and it has 229k on the clock. i went to look at a newish audi 2021 a6 pretty basic for 27k out the door. the car is THE SAME! even the guy that sold me the car got a merc 2017 for 13k and you could bolt the seats off of my audi onto his merc. i don't see the reason to change it because it ticks over and all i get with the new car is a couple screens that i hate anyway. the interior was exactly the same, the suspension and chassis was exactly the same, the engine was new but for 27k i pay rebuild the curent one 5 times over.
I think that cars are still way too expensive especially on PCP and people are not buying into it anymore, they realise we are being ripped off by finance companies and big dealer networks generally 😢
Bang on I got a claim against Audi Financial Services which really is VW finance.
Buying a car is one of the biggest scams created.
You spend $30,000 The moment you drive it away you’ve lost 10,000 you drive it around for a couple years and then sell it for 7000 what is the point ?
14% interest on used cars from Volkswagen
@@Smith6265index fund too
Spot on.
20 years experience in Franchised and non-franchised dealerships and the last 15 years in another more professional industry taught me this: In the Motor trade, absolutely *everyone* bangs on about giving good / great / outstanding customer service but virtually *no-one* gives good customer service. Treat your customers with contempt and guess what? They’ll do the same to you, this is why dealers / traders constantly complain about their customers - but they ignore the fact that they present cars poorly, won’t negotiate, show almost no interest, and then unsurprisingly struggle for sales - if 90% of dealers out there did close - who would care? Not the customers - that’s for sure. The motor trade *never* changes, but the products and the buying public do - that’s why it is dying, end of farce.
Absolutely spot on. This hit the nail on the head. If they cared about customer service they would reduce salesman’s monthly targets so they can concentrate on delivering a great service, but they don’t they push more sales and customer service goes out the window because salesmen want to get paid. The whole reason I left the industry in October 22
I’m totally with you. The service is just abysmal now, plus the old ‘the price is fixed, it’s in line with current market prices’ every time you ask to do a deal. Makes me sick. Not only all that you’ve said, the finance deals are a disgrace, ŠKODA wanted 14% off me for my Tesla!! I settled with 6.9% from the Halifax. I hate buying cars now, it used to be one of my favourite things to shop for.
You, Chops Garage and High Peak autos have hit the nail on the head IMO. You Tube channels DO help sell your vehicles, I'm sure of it, 'cus we get to know you, and how you operate. No hiding in the shadows wondering what you're REALLY like, unlike some of the shysters out there on the high street that are only interested in having yer kecks down.
Totally agree. In fact I think High Peak isn't that far from me. I've been looking for a replacement car for three months. Might pay a visit.
Yes, it applies to any business. CZcams presence brings in a lot of customers.
While us car enthusiasts watch these channels, it's fair to assume the vast majority of buyers that dealerships rely on for the majority of their business simply aren't into this type of content.
But a good, well run and honest business is the key, and that's what we like to watch
I wouldn't hesitate to buy from James or Joe forsure and absolutely CZcams does help but also for these 2 word of mouth
Car Uk at The Car Pitch also a very honest dealer worth a look.
After a brief look around at the second hand market I have just invested £800 in making my beat up Zafira B CDTI safe to use with a further amount needed to replace the clutch and flywheel in a couple of thousand miles or so. Says a lot about the state of the market when it is safer to throw money at an end of life car rather than replace it.
You would love the geoff buys cars channel
I've got an 09 plated Zafira. Looked at replacing it but have spent nearly £1000 on keeping it on the road. Will keep it now until the government decide we should all be unemployed and not darken their motorways.
Got a fifteen yr old civic. Touch wood 160k trouble free miles. I'd usually have traded it in by now for a newer car, but I'll keep it until there's literally no life left in it. What's the point when the dealer will give me peanuts, the cars on offer are ridiculously overpriced and the roads are like the surface of the moon?!
You are spot on. You might have noticed that in the Estate Agents market, the same thing is happening. The online companies thought they were going to transform the way we bought our homes. It has not happened. As you say, it is customer service that people want. How many of your customers have come back to you because they were so happy with the service you gave them last time?
if you actually get good customer service
Ye Purp bricks went under
The lack of customer service these days is a major issue across many businesses in many sectors …..the focus on profits, dividends and shareholders while at the same time ignoring their customer bases will bring their businesses down….if you don’t look after your customers, you have no business. I’ve seen this growth across many sectors like House buying, car dealerships, supermarkets , hospitality to name a few …..been in sales for 36 years…and things have got very bad. I spent a few years in the motor trade , inc selling finance as a business manager , when my partner was looking for a car last year, we visited a car supermarket in Peterborough and I was shocked how poor customer service was…we walked away. EV’s would always come down in price the more they sell, over a million units in the uk now. But like I said above, my 36 years experience in sales tells me a lot of businesses are getting customer service wrong.
You're absolutely right. Used to be in sales myself, and the one thing I like is to feel "valued", like my business actually means something. This extends to when I have a meal out with my partner. It's the human interaction and the need to feel like my custom means something. Too many companies focus on the money rather than the end user.
Always amazed, when visiting main dealers, that there are so many staff to be seen who don't seem to be doing very much. I know that there will be some downtime, because I've worked in them, but I always found something that needed doing if I looked hard enough.
The Cazoo dealer in Leeds closed down last year, I’m glad they have.
cazoo was the decent one. webuyanycar is the worst
Years ago ( late 60s early 70s) I dealt with a dealer group, The owners motto was "Service sells sales" The are still trading today!
the thing i hate most about dealers is stuff like admin fees and i will not buy from a dealer that charges an admin fee, in my opinion its very cheeky especially as they have staff that do the admin and are already being paid a wage
where does the money to pay that wage come from?
@@ianmontgomery7534From the retail markup surely? There shouldn’t be a need to charge additional fees.
@@ianmontgomery7534Who pays the wage for those staff, when an admin fee is not included?...... Should I have to pay extra to Doris at the checkout till in Tesco for scanning my item?
admin fee seems like a tip for doing their job
@@ianmontgomery7534 Do you really need that question answering?
Many years ago the anecdote was " if there are two dealers selling identical cars which one do you buy ? . The guy you liked the most as the cars are the same. Still applies.
Are you implying that these dealerships are closing down because people don't like the owners?
Customer service might be the only differentiation in a competitive market. Sadly the bigger the "group" the less they pay attention to it in most cases. @@Silks-
Reference to credit only prices - not a problem if you're in the UK. Take out their credit. You have the right to cancel a credit agreement if it's covered by the Consumer Credit Act 1974. You're allowed to cancel within 14 days - the 'cooling off' period. Make sure you have an alternative agreed and in place or just plain have the cash.
I did this a few weeks ago. Kept all the dealer and finance incentives.
If you do lease or buy on HP, make sure you are shown and understand how much you are paying over the life of the loan or agreement, not just the monthly payment.
Any money you do spend on your car (or boat or holiday or whatever) has an opportunity cost of not being able to do something more productive with it like build a larger deposit for your house, a bigger pension or other investment. It's very easy to jeopardise your future financial well being by overspending for the now. Also applies to your daily lattes, smokes, your poison of choice or whatever.
Or don’t bother wasting time with dealers like this.
@@royfontaine5526 they tend to have the 'pick of the crop' older 2nd hand cars and very good warranty backup, so why avoid them?
Make maximum use of the dealer and finance incentives.
I totally agree with your comment about customer service. It is the one thing which can turn any buisness into a great buisness. Probably the most important things are to tell the truth and never promise something you can't deliver.
Cazoo launched itself as specifically an online disruptive business....and then started opening traditional dealerships. I couldn't believe what i was seeing.😂
I was under the impression that the fines for not achieving new EV sales levels, were against the manufacturer? Not the dealer. It’s not surprising that the really expensive EV,s are depreciating quickly. However, the “normal “ EV,s seem to be finding their own level in the market place. IMO the likes of Cazoo,who spent fortunes on sponsorship etc,have now had the rug pulled out from under them. More will follow this year. Thanks for the content, informative and enjoyable.
Have been considering changing my 09 plate Mondeo. To get something 3-4 years old of equivalent spec is astronomical. I’ve been offered pretty much scrap value for it, so decided to stick a new timing belt on it and will keep it going. It’s been well maintained and reliable and so makes more financial sense to keep it running for as long as possible.
Used car sales will go down following US market trend and the massive hike in car insurance costs in the UK is making car ownership more difficult to justify.
I’ve found Wally!
I've read that after the car insurance hike the next thing they plan on hiking is car repairs
Very informative. I am Australian and no one has suggested a tax on the sale of non-electric vehicle here. I guess if it works in the UK they will suggest. I am still driving a 1999 Ford Fairmont wagon (wagon version of Hubnut's Betty) as it is still going strong structurally. I have replaced both the engine and gearbox but she has now done 380,000k and I will keep her going as long as I can.
We love Betty!
the time will come when petrol and diesel vehicles will be taxed out of existence so we will be forced into EV shit bins.
@@lapisredux I think that might create a political backlash.
100% right about the bigger the business the more problems and believe it or not less money!! My step brother fits kitchens and had 4 guys working for him and he was doing great. He then got in with a big kitchen supplier and there was to much work for the guys he had so had to take on more people which lead to loads of problems and organisation and in the end he was earning less money!! So went back to being a small business with less stress and more money!!! I personally wouldn’t buy a car online and to be honest I’m not a big fan of buying privately for a car over a certain price. I think buying a car from someone like yourself is the way forward as second hand cars will sometimes have problems so a service like you provided is the way to buy a second hand car over a certain price point..
Interesting video. I’ve always preferred non-franchised dealers for buying a used car, and HATE the pathetic’ dance’ and shenanigans of “take a seat, can I just get a few of your personal details, would you like a coffee…..” blah, blah, blah from a mail dealer “sales executive” I much prefer a decent independent approach “ are you ok. Give me a shout if you need any info. I’ll be in the office.” Most people just want to find a half-decent deal, from an honest trader - and yes, being treated to some old-fashioned customer service would be a much better add-on than Gap insurance, seat stain protection, or paint gleam !! Rant over.
Spot on !!
Put you on the email list is massive profits long term. Go figure.
Lots of good points but I'm only going to comment on 2 of them.
1. Scaling up is the hardest thing for any business and has all sorts of holes to fall in - just confirming your thoughts about it being on all businesses. My business is a tech startup but I have friends in various industries that have all struggled with scaling up.
2. Typical government stupidity forcing through a scheme to force EV sales without having any idea how it can be executed.
Why aren't the manufactures talking the govt to task and even withdrawing there cars from the UK market in protest dealerships or doin the right thing withdrawing from selling new cars this lets the govt know they can't dicktact what a dealer sells . Manufacters should be stepping up and giving the govt food for thought so they know they won't tolerate being told what they can or can't sell like bloody Russia lol
What a stupid comment it has nothing to do with EV’s
do you listen? Or read? The government is forcing dealers to sell EVs or face a large fine. What bit did you stumble on?@@At_the_races
Wish i could filter cazoo and cinch out of autotrader results
And Ireland, I have no interest in trying to get a car from there.
You are absolutely correct when you said some dealers are charging more than the advertised price if you don't take out a credit agreement, this happened to a friend of mine just last week
You are 100% right, personal service is best, when I buy a car I like to kick the tyres, never buy one without viewing it up close. Those who buy a car over the internet at auction are crazy.
I would imagine the smaller and 'one man band' dealers always live deal to deal and its always a tough gig, but I'm staggered at some of the things that I have experienced of late. I want to buy a 71/72 plate Audi A5 SLine Coupe and just want to buy a good example at a sensible price....well, I would have more chance of winning the lottery! To add to this the price has increased by another £2-2,500 in the last month. As a cash buyer I would be more welcome if I turned up with Leprosy, VD and Ebola wanting to buy on Finance, no one is interested in doing a cash deal. Looks like my 8 year old Insignia will remain good friends for at least another 6 months, its pathetic whats happening with bigger dealers!!
Hi Joe. I tried to buy a used car from Carbase in Bristol and when I asked if I could pay using bank transfer or cards I was told there was a £1000 limit. They obviously are only interested in finance deals which seems awful and no way to run a business. I’d much rather buy a car from a dealer like yourself.
New to the channel, struck instantly by your honesty. Wish you all the best for 2024 and the future,
Good video Pal, I agree with the ending, having that relationship with a customer and going the extra mile makes all of the difference.
I am looking for a car at the minute and have been amazed by the prices for basically bangers! I think you have nailed it with the personal service aspect and the ability to communicate and build rapport. So I have changed my approach and am now trawling the stock lists of dealers I know to be competent and will make my choice accordingly. Definitely will not be a franchised dealer though, all fur coats and no knickers!
Different story if you are selling one though, especially from WBAC
Because of the way prices have gone the last few year, I change my car every 6 year instead of 3. I do all of my own maintenance and do it well, will mot be mugged by a car dealer ever again. Dealers post Covid have mugged buyers.
Let's not forget Hertz are selling off "All" their Evs and replacing them with petrol and Diesel cars. 😂. I wonder why?
The free market can create some crazy situations, it's not like cars have become passe because someone has perfected the Marty McFly hoverboard. Demand is strong, especially for Euro 5/6 cars, as a consumer the cost of buying second hand or new has gone up and stayed up. I'm getting on, so maybe that is why I look with disbelief at ads for tired hatches maybe 8 years old with 100K+ on the clock and the vendor still wants £5K (Autotrader says "great price"🙄). Despite this car vendors are struggling? I guess we are all happy about the big faceless corporate entities struggling, especially when it is these businesses you would expect to see cashing in right now (wrong business model chaps, bad luck!).
I think there is truth in what you say about customer service. The purchase of a car is for most of us an occasion, it's not like buying a new pair of pants. If the car goes wrong you don't want to be put through to a customer services droid, you want to talk to a person who is invested. Good luck mate, your kind of dealership is getting it right.
8 years at 100k miles is nothing nowadays…
thank you for chatting to all your followers :)
Very interesting Joe, thanks for the variety of content as always!
Appreciate for the upload, keep them coming! 👍
Good video, cazoo was just crazy, buying all sorts, massive ads, sponsor ship, big floatation on the NY stock exchange, Alex chesterman, who started it got his money out early on.
Hatfields Jaguar in Sheffield have closed down due people not wanting EVs
The thing about cash versus finance is easily overcome. You buy on finance with all the discounts and incentives, then cancel the finance within the 14 day legal window and pay off the finance company. Easy. I bought two cars like this and saved a good three or four large.
Spot on.
Please explain more lol I need to use this trick
I remember about 20 years ago, in main dealers you got really good customer service. I took my car to a ford main dealer and the staff were unfriendly and a bit hostile and the cost of repair was ridiculously expensive. Went to a independent garage and got it fixed for trade price!
Two dealers closed down in my town the last month, both established for many years
Car's and getting very expensive to run and repair. Car insurance has double this year 😊
Governments getting involved fiscally has always been fraught at best and at worst dysfunctional….. the law of unintended consequences.
Many Thanks, very insightful!! Peace From London. 🙏
I have been following 30 cars on Autotrader. Until last year, 50% would be sold within 3 weeks.
Now all the 30 cars are still there. Taycans in particular. Market is in gridlock.
Yup totally agree. I have been looking on autotrader and eBay and cars are just not getting sold. Jus getting re listed over and over again. Plus the insurance hike on cars isn’t helping either
Excellent overview. Your obs on selling customer service matches the old thing "people buy people". PS in 20 years++ time we'll all be driving lekkys but we will have them on lease. service contracts with big companies like the phone market.
You provide a very good service. Really enjoyed your video. Not a car guy but found your video very interesting
Great video bro 😎 keep up the good content ❤❤
Yep our dealership has just pulled the plug on GAP insurance last week.
Why is there even a product called GAP insurance, the insurance companies have to pay you the market value of your car, when you get a quote they ask the value, then try and sell you short by not paying out, this drives me mad, its called INSURANCE, not we might give you some sort of low blow price for your write off, it stinks, it absolutely stinks.................things need to change, just my opinion !!!!!!!!!!!
Because the market value can be many thousands less than the cost of replacement
The key is in the word “Gap” ie it enables you to replace your car with an equivalent new one by bridging the gap between the two values
well just replace what I have lost, that's what I pay you for, surely, its a con a damn right con...........
It's mostly for finance deals, you probably owe more than the card worth for the first few years, certainly in the first year you'll be way underwater on the deal.
GAP pays difference with the price you paid on the invoice vs what the insurance claims to be the market price. For those with new cars on PCP etc it’s worth getting however never ever get the dealer supplied one as they are overpriced and ofc commission based.
@@AnotherCZcamsr460 fca are banning dealer supplied gap, due to them making commission on it.
Buying online is nonsense. Can't beat customer service and seeing and test driving the product. Your information update on the state of the market and advice is excellent. Thank you
Excellent video 👍I always have time too watch.
It seems the car trade is heading into hurricane winds this year?
The bigger you are the harder you will fall.
Interesting content, a scary but interesting time to be in the car trade. Subscribed 👍
Another factor could be personal car leasing. Myself and a lot of people I know, who do low mileages, now lease rather than buy cars. It suits us for ease and worry free car use, plus a new car every two years.
It's no surprise most of these so called big players are bank rolled and ofcourse that has a cost to in ie " interest " which ofcourse has been rising a lot in 2023 plus the cost of living really hurts there monthly outgoings ...added that the price crash in November and December many would have been on the edge so it was the final push. Selling from home has been hard enough I'm so glad i pulled the plug in the first big lockdown it was hard enough running a 35 car site in 2018 2019 let alone in this decade...best of luck to all of us remaining 🙏
Yes and don't forget all the costs have gone up for materials and any work that needs doing to repair cars.
Cazoo launched itself as specifically an online disruptive business....and then started opening traditional dealerships. I couldn't believe what i was seeing.
I dealt with Klassified cars in rugby, great indy garage, nice gents and very transparent- car detailed and polished on pick up. Good warranty as well. 5 star reviews well worth a look
Plot on a corner down the road, often cars disappear for a few weeks then reappear. Not sure if it's merry go with new business, or if cars are just moved between sites to try and shift them.
I always have a look for a change of car but recently the car forcourts aren't moving cars. Iv decided to stay put with the merc
Thanks for pointing the facts out Joe. It’s been tough running a small van dealership in the south west and by the grace of god we are still here. Blood sweat and tears don’t come close to describe how it’s been. Keep up the good work buddy
Locally we have a favourite car dealer spot which has opened and closed more times than Katie Price's legs, on many occasions it has been observed they have been fronts for money laundering / drug operations, could you speak to that ? do you think that could explain some of these here today , gone not long later business's ?? Turkish Barbers and Nail Salons are the new favourite it seems :)
WEF actively promoting 15 minute cities and "Active Travel".
Another great video.
Please do an update video on cazoo.
The market is changing and dealers need to use more of the data that we can get from the likes of autotrader dealer portal, motorway etc …
As new car prices keep rising and finance gets more expensive I expect used car prices to continue to strengthen for good used stock.
Bangers will always be cheap and good stock will keep going up as supply reduces.
Not for 2024 but regulations will get harder and force more budget price range dealers to quit .
The whole EV thing is politically driven forcing people into something they don’t actually want - brutal depreciation for early adopters will scare a lot of ev buyers off when they come to change - the used ev market still up in the air as the market has to adjust between company buyers paying fortunes for new EV’a and when they get to the used market the price point has to massively drop.
To stay safe in this uncertain market I’d stock up with a load of budget 7 seaters and 5 door economy hatches and stay away from anything that might drop suddenly due to strange market changes .
I have noticed and interesting thing in Australia. Subaru doesn't have dealers anymore - they have retailers. I hope that doesn't mean they will stop servicing them.
Hi joe
Having been in a non related business to yours
But I think after the obvious things like sales and marketing people forget about overheads as they expand
This is where one man bands can survive
There’s people on here that are not that bright,all the wages and overhead’s in big dealerships have to be paid for by someone and it’s you the customer who pays for that not the dealer,he couldn’t afford all those overhead’s like rent and rates for the fancy showrooms without you the customer paying over the odds for vehicles plus he has to stand by what he sells in the way of a warranty. People are slagging off main dealers haven’t a clue how much money it takes to run these places before any profit is made. The guy who bought the Volvo and then wanted the dealer to take it back and was shocked at the price offered is living in Lala land,what did he expect ??? a full refund and if he thinks going to another dealer is going to change anything he’s more stupid than he’s made himself out to be on here,get real man business are there to make a living and a profit to exist,it’s your choice wether you buy the vehicle or not,don’t blame others for your mistakes and then winge about it.
It’s a weird time. I’m in the market for an L320. You have private sellers asking more than used dealers. I just want to find a dealer who’s got a decent customer rating on auto trader and I’ll just pay the asking price. I think most folk like me know a dealer has to make money but like you said I’m not really up for ceramic coatings, tyre cover etc which isn’t great for the dealer.
Online shopping, used to love going round dealers and different car pitches haggling, last week I bought the Mrs a new ish kuga from pictures, delivered tomorrow free from a big ford dealers, been trying for a few months, none of them interested in cash 'pound note's' got to be bank transfer, the car was at a very good price and we got a cracking part ex price for our old kuga, win win but I miss the car pitches and dodgy salesman.
Great video Joe. Please continue in the same vein. Geoff Whittaker.
Totally agree won’t buy online want to do face to face deal 👍👍
The APR on finance for used cars is crazy now, I purchased a van for my business 3.5 years ago put 10k down and the rest on finance (not PCP) I got it at 6 percent APR. Was thinking of changing our personal car this year for a used one maybe few years old same finance company now quoting 14.5 percent APR and thats with us both having a very good credit rating, so we are hanging on to the car we have for now especially as its only got 90k on the clock. And the dealer we purchased our current car from has recently sold the exact same model/spec same year even same colour for what we paid for ours nearly 4yrs ago!
Instead of paying the extortionate interest ,just save the equivalent amount until you can afford to buy cash. I've never taken out a loan for anything. I was taught if you want it work hard saved for it
@@jablot5054that obviously doesn't make sense in every situation though.
Thanks read
I have no sympathy for big franchised dealers or the car supermarkets. They are greedy in wanting high mark ups and also really pushing the after sales products. Last year I bought an approved used Volvo from a main dealer for under £25k and realised within a few weeks I had made a mistake so asked them to buy it back, they said they would but offered me only 70% of the purchase price despite the fact that they didn't need to prep or service the car again apart from a quick valet. When checking the sale prices my car had probably fallen by only £1k at the time. They had made a big profit on me and then wanted to make an even bigger one straight away again. Hence I will never be going there again. All profit driven, no customer care or satisfaction/loyalty. I obviously expected to make a substantial loss for my 'mistake' but they really wanted to have my pants down, what makes it worse is that I had previously bought 2 cars from them so was a fairly loyal customer. It's tough for the buying public out there, we are squeezed for every penny on everything so I agree more companies should look after their customers if they can rather than raping our pockets.
You’re wrong. In order to issue a new warranty they will need to put the car through the workshop and probably issue a new MOT. The car will have another owner and frankly why shouldn’t the dealer want a small profit ? They also pay VAT on the difference between what they pay and what they sell for.
It sounds like they’ve been extremely fair with you.
I think the government are hell bent on ruining the car industry with their stupid attempt to force customers into an EV which in my case will never happen,I will run my BMW into the ground before I will be told what I can or cannot have. If everyone sticks together and resist these government regulations then we might have a chance to get them changed.
So , does the company you work for not make maximum profits to pay your wages or do they act as a charity ?
same as used watch sellers
I live near a city in Portugal and the local Renault dealership has shut down.
I am not surprised they are going bankrupt, people can not afford their inflated prices. The price of new cars is ridiculous, they have more than doubled in the last few years and they depreciate by about £3,000 or more every year. Second-hand car prices have trembled plus they are all high-mileage vehicles. it's rare to get a low-mileage car now. Greed is killing the motor industry.
There are some very cheap lease deals on EVs at moment making me think they are registering them for figure meeting then leasing them at much lower prices than were 12 months ago. I think any product that are necessities which are priced well, the public will buy. Ithink eating out and pubs are going to be finished. Where I live a price of the same pint of beer can vary up to £2 and eating out nearing £100for two with drinks. Even if you can afford it - is it worth it. I think a vital service you offer at Berrow is customer service and you fix things because you can. I do my own diy spannering within limits but I hear from friends who have had repairs done to their cars costing over a grand. For the first time I am believing the hype that maybe I wont be able to afford a car much longer
The main big brands hit smaller indipendant dealers when car electronics were introduced.
Information regarding the sytems and how to reset faults wwere with held from smaller idependants.
If the government fails to reach its EV target sales an article i read today says that it will make the ownership of ICE cars a lot more expensive i.e.higher VED and fuel prices to 'Encourage' people to buy EV cars. Also the article stated that it was unhappy about some parts of the media giving EV's a bad name
I've quietly been wondering if this was going to become a possibility. Seems I'm on the right track here. Pigs claws in your pocket and wallet. What a shock ey?
Bravo, so true. Well done you will be fine and do amazing. Opportunity for Berrow Motors for sure. Chris BuyThisReg 😊
Brought here by mr sinclair. Good move going in his podcast! 👋
Joe 100% spot on with your observations regarding the personal service. I’ve not purchased a car from from you but Berrow Motors appear to epitomise that ethos. I will certainly be looking at Berrow on my next purchase.
Ace video I am just a normal punter, but great to get some insights! That fine for not selling enough electric cars is a total joke. Its going to destory dealers which then will only add to the issues in the car market 👿
Can’t wait for the Cazoo video 😂
Trade and auction prices have levelled out….
Dealers have been taking the p*ss.
HEY! don't you mention that! It's one of his pet peeves don't ya know? he's really angry about it
Was tricked by your ID curved line, I thought it was a hair on the phone screen 😅
Also, please do do a video on Cazoo
best car channels
1.Shifting metal
2. High peak autos
3 car DEALER PRO
4. Car uk
Good channels, flattered you put me at the top! 👍
@@ShiftingMetal no worries good channel , great insight to the motor industry
A video discussing individual car and van owners' valuation buying / selling situation as you see it... would be good - probably get more views too.
On Gap insurance it is the size of the commission margin which is at issue. It is often excessive.
All aspects of the second hand vehicle sales business are challenging. Only the best, most knowledgeable, and most efficient can survive.
The local BMW dealership Rybrook has been sold to Sytner at the end of last year. This is an example of what you are saying
Only 2 days ago I drove past inchcape and thought how sparse the forecourt looked. Now I may know the reason why.
I think if you buy the right cars for the area your working from, prepare them properly and dont be too greedy pricing then you can do well, remember cars are a necessity now
Cinch loosing money isn't that surprising - I bought a car from them last year and I did think I was paying slightly over the odds - but delivery was free, to Shetland - check it on the map. It is 12 hours and two hundred pounds on the ferry from Aberdeen !
Used car prices are just crazy. In addition manufacturers have increased their prices as well. Before covid you get a supermini for around £14 to £15k new, now more like £19k to £21k.
I remember superminis were 6k
I know two used car traders and wanted to go into the market, what people don't realise is since the pandemic it's got ridiculously hard, cars at auction that used to go sub 5k where selling at thousands more for a prolonged period of time, add the cost of living to customers and its almost become un-manageable at this moment in time
My Local Honda Dealer Steels closed overnight another dealer has the business now. Looking at Steel's prices over the two I am not surprised ,I guess they bought stock at a premium price. It is a shame I liked a local Main dealer.
It will always be Steels Roundabout
Yes it will. @@bowensgarageross-on-wye6133
Last time I bought any cars worth any money were from SAAB dealers, I just kept going back, the cars were great but the service was even better. I had a turbo go 363 days into the year warranty but it wasn't knackered enough, luckily they had a box of properly broken components..... I miss them
Please do a video on Cazoo
Can’t wait for Cazoo video