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Aug 24th, 2023
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Joined: Dec 2009
Posts: 35,791 Likes: 471
Tricky Dicky Member of the Inner Circle
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Tricky Dicky Member of the Inner Circle
Joined: Dec 2009
Posts: 35,791 Likes: 471 |
+1 And I think the youngsters will very quickly fall out of love with "our cars" on environmental reasons alone. One of my daughters is an Aston and 911 driver but even she is looking to order a Tesla now and she is barely 40 and the decision is based purely on environmental reasons.
Personally I amortise my toy cars over 4 years so any money back is a bonus, as I have had my current toy for 6 years and it has increased by £5k it's been a good journey, I do think that if anyone wants money back for their classic now is the time to sell as I think the bottom is about to fall right out of the market forever not just a trough as it has historically taken.
2009 4/4 Henrietta
1999 Indigo Blue +8
2009 4/4 Sport Green prev
1993 Connaught Green +8 prev
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Joined: Nov 2011
Posts: 7,069 Likes: 21
Talk Morgan Guru
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OP
Talk Morgan Guru
Joined: Nov 2011
Posts: 7,069 Likes: 21 |
I would like to bring some additional aspects on the demographic aspect mentioned. This is based on my own experiences in NL and are generalizations. First, the younger generation is less interested in cars and if the are they will not be likely to work on it. Also fewer and fewer want to be trained as a car mechanic. Secondly, this younger generation is less well off compared to for example the boomer generation (e.g. pension quality and higher retirement age) and have difficulty to afford housing (bank crises resulted in further constrains to get a mortgage, in a situation with soaring house prices), due to austerity measures (crisis) many obtained a substantial study debt. Likely, they will build up less money than the boomers. Thirdly, more and more taxation of anything around cars, road tax, CO2 tax, and fuel tax. Fourthly, tax exempt for road tax for classic cars is under threat. Furthermore, more and more cities close for older polluting cars.
With all these negative sentiments and economical factors the boomer selling his/her cherished classic, finds less people interested to buy and the ones that are interested have less money. So, the classic (that they will not maintain themselves) and with less places to go to with it (and if you can get into the city, where to park?), can only be justified if it is not expensive. There will always be a market for the unique cars. But I do not think there is a bright future for classic cars. Morgan with the new platform might be able to appeal to the younger demographic, looks old but is a modern car and even more so when electric. Its prices will have to come down though, I am afraid..
I write this with pain in my automotive hart. A nice summation BertR. I think you are on the money
A Morgan Identified Fastidious Owner...
2011 4/4 Bespoke, 1981 Delorean, Auburn Boat Tail
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Joined: Jan 2009
Posts: 5,891 Likes: 22
Charter Member
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Charter Member
Joined: Jan 2009
Posts: 5,891 Likes: 22 |
Seems like things are changing with a new demographic in the collector car market Classic Car ArticleIts happened in the past many times over, when alternative investments ride a wave up to a peak and then when owners start selling anticipating a fall. Happens in houses cars boats diamonds ,fine wine. The car market has an additional problem. The stars like 250GTO Ferraris drag upwards a lot of very ordinary vehicles. For example, people even collect Ford Escorts and Morris Marinas. Pretty ordinary and very common in their day, nothing has happeed since then to turn them into something or merit.
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Joined: Dec 2008
Posts: 21,871 Likes: 168
Roadster Guru Member of the Inner Circle
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Roadster Guru Member of the Inner Circle
Joined: Dec 2008
Posts: 21,871 Likes: 168 |
When new cars lose 50% value in three to five years, I don't think we can grumble, even if our Morgans drop 50% in the next ten years.
It doesn't affect involvement and enjoyment, which is why most of us buy Morgans???
DaveW
'05 Red Roadster S1
'16 Yellow (Not the only) Narrow AR GDI Plus 4
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Joined: Jan 2011
Posts: 5,366 Likes: 15
Charter Member
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Charter Member
Joined: Jan 2011
Posts: 5,366 Likes: 15 |
Ultimately, I guess you just have to make a decision on what you want to spend your money on. For instance, I like watches and fine wine. The former may make some positive return if I were ever to sell ( unlikely ) but the later just disappears as I also like to drink it.
The same with cars, I buy to enjoy and not to worry about any loss of value. We are only here for a blink of an eye so lets just enjoy ourselves whilst we may.
Here for a good time not a long time!!
Reg
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Joined: Dec 2008
Posts: 21,871 Likes: 168
Roadster Guru Member of the Inner Circle
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Roadster Guru Member of the Inner Circle
Joined: Dec 2008
Posts: 21,871 Likes: 168 |
Exactly what Reg says, except the watches...……  We consume nice wine, and I've fallen into the habit of translating costs (such as the aero upgrades) into cases of wine...….it helps my man maths auto justification programme.
DaveW
'05 Red Roadster S1
'16 Yellow (Not the only) Narrow AR GDI Plus 4
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Joined: Jan 2011
Posts: 5,366 Likes: 15
Charter Member
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Charter Member
Joined: Jan 2011
Posts: 5,366 Likes: 15 |
Dave,
Bearing in mind our collective ages on TM, I have taken to rating every purchase against the cost per hour in a care home and as they are all around £60K per year locally that allows me loads of possibilities to indulge my passions ( with the Memsahibs permission of course !!! )
Here for a good time not a long time!!
Reg
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Joined: Aug 2014
Posts: 5,587
Charter Member
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Charter Member
Joined: Aug 2014
Posts: 5,587 |
If such articles could predict the future then .........
Article on the bbc online about a big rise in the number of SUV's being sold .
Very few of us are buying electric cars .
Geneva 2016 plus 8' The Green Godess' 4 side exits .
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Joined: Aug 2013
Posts: 15,794 Likes: 14
Formerly known as Aldermog Member of the Inner Circle
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Formerly known as Aldermog Member of the Inner Circle
Joined: Aug 2013
Posts: 15,794 Likes: 14 |
If such articles could predict the future then .........
Article on the bbc online about a big rise in the number of SUV's being sold .
Very few of us are buying electric cars . No surprise there. Would anyone here swap their daily tin top for a matching EV, if one existed, if the price was exactly the same? For me the obvious option would be a Golf E or BMW i3. I've been thinking.... Need to drive a Golf E The road tests I've read are not totally convincing.
Peter,
66, 2016 Porsche Boxster S
No longer driving Tarka, the 2014 Plus 8...
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Joined: Dec 2008
Posts: 21,871 Likes: 168
Roadster Guru Member of the Inner Circle
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Roadster Guru Member of the Inner Circle
Joined: Dec 2008
Posts: 21,871 Likes: 168 |
I was driven across York in a new Golf E last year.
Bearing in mind I love Golfs, but not every version...……. I love my Mk6 GTD, until I drive MrsWs Polo GTI, which is streets ahead in everything but comfort.
In comparison my Golf is lardy.
I drove a Mk7 Golf at the launch and it's even lardier. The Golf E was no different, and was totally devoid of character, which is quite a statement, considering that character has never been high on VWs list. This one is worse.
But cabin ambience is excellent of course.
DaveW
'05 Red Roadster S1
'16 Yellow (Not the only) Narrow AR GDI Plus 4
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