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Ferrari & Supercar Market Update: July 2023

Vanquish is great value, it's a very similar car to an F12 for half the price, perhaps even better in 8 speed form.

Sent from my SM-S908B using Tapatalk
 
Vanquish is great value, it's a very similar car to an F12 for half the price, perhaps even better in 8 speed form.

Sent from my SM-S908B using Tapatalk

8 speed is definitely the preferred option on the Vanquish Gen 2
 
not sure what is classed as a good buy ATM but I do know that as soon as a dealership get your contact details, they will badger you regularly to buy something.
I have been considering a trade up from my 2010 Cali to a 458 spider or possibly a 488 and the sales people are dead keen to find me what i am looking for.

A couple of years ago it was a struggle to get a call back from them and right now they call regularly with updates.

i also noticed that the car that i traded to an independent prestige car dealers, a Porsche 991 Turbo S has been reduced twice and its not just 5k over what they gave me for it a couple of months back.

The biggest killer for the used car industry must be higher interest rates, I would have considered a bit of finance to make the transition from my car to the next one but now i am more reluctant to take that route and considering holding back to see what happens. most car finance now is hovering around 10% which is quite a chunk of cash. Who would ever have thought that car buying would be so linked to the general economy.

The second biggest killer, IMHO is the fear of the combustion engine becoming a dinosaur, with higher tax costs and what might be mega fuel costs when the majority of cars are electric.
 
I think the finance issue is very real. Not so sure on the fear of IC engines becoming very expensive to run, I figure we have at least 10 years before much really happens on that.

MC
 
I think the finance issue is very real. Not so sure on the fear of IC engines becoming very expensive to run, I figure we have at least 10 years before much really happens on that.

MC

agree on the finance.

my view on ice is common sense will prevail at the last minute. Id be far more concerned about residuals of hybrid and ev due to their life and also the amount of electronics and not being supported in later life. there are already issues with f12 and 458 senor availability!
 
Production of ICE fuel is using infrastraucture thats long been paid for so producing more will be a case of a rush for the bottom on price to get sales of whatever they can before they have to tear up the facilities or mothball them.

It will get to a point that they will have to leave it in the ground, so making a dollar a barrel on hard curency will be very appealing.

I'm not at all concerned tbh, and would rather walk that buy electric.
 
The problem is that although electric cars have there issues that aren’t yet resolved, it doesn’t stop the government structuring their company car tax rates to induce people to go electric. I.e. benefit in kind rates get adjusted to get drivers into certain types of car, previously was hybrid, so peeps went out and bought hybrid range rovers or similar as company cars, then they moved that to a zero rate for full electric, so people have now moved to things like Audi e tron or the Porsche Taycan, it’s not just enthusiasts who buy these new, that’s why you see so many for sale at the 3 year old mark when the lease purchase expires.

So if you are a company director or well loved employee of the month, you might be offered a singing and dancing electric Porsche or Audi and you won’t pay any extra tax but if they give you a petrol car, be it a Ferrari or Porsche 911, you’ll get taxed up to the hilt.

I even bought a commercial vehicle, Land Rover defender 90 hardtop, so I could claim 100% tax relief as plant and machinery, in fact after covid they gave 130% for a two year period, so that’s my daily drive.

I’m essence unless we are cash buyers for personal use only, we are getting driven towards electric vehicles or we get hammered for road tax and income tax.

We will drive what the government wants us to drive or pay the price.
 
Production of ICE fuel is using infrastraucture thats long been paid for so producing more will be a case of a rush for the bottom on price to get sales of whatever they can before they have to tear up the facilities or mothball them.

It will get to a point that they will have to leave it in the ground, so making a dollar a barrel on hard curency will be very appealing.

I'm not at all concerned tbh, and would rather walk that buy electric.

Would normally agree with you, but at the moment a lot of North Sea firms are not bothering to exploit existing reserves never mind explore for new ones due to the current tax regime - the current thought in the industry is why bother when 75% of the profit is wiped out by tax?

Quite a few guys being let go here as they either pause or wind down production
 
As I understood it the North Sea industry comes alive when the barrel rate is 60 (£ or $?) as it is quite expensive oil to obtain, but lower costs producers will still draw it out through from land based wells ??
 
As I understood it the North Sea industry comes alive when the barrel rate is 60 (£ or $?) as it is quite expensive oil to obtain, but lower costs producers will still draw it out through from land based wells ??

It does, it needs that floor on the selling price; but viable projects are being canned due to the current tax regime (why bother putting all the work in when it's all going to disappear in tax?) - and with the likely next government promising no more new exploration in the North Sea, it's not looking good
 
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