Used car prices dropping ????

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Tue 27 Nov 2007 19:33
Used car prices dropping ???? - Pendlebury
I see in the business news today that Pendragon shares have dropped by 35% and they are blaming falling used car prices as the reson for the share price collapse.
Has anyone noticed if used car prices are really dropping ?
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Tue 27 Nov 2007 20:00
Used car prices dropping ???? - bell boy
i disagree with pendragurn
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Tue 27 Nov 2007 20:27
Used car prices dropping ???? - Aprilia
Ah, the 'creeping P' - they have all sorts of problems and falling used car prices are probably the least of their worries. I think most of the good senior people have now left, haven't they? I
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Tue 27 Nov 2007 20:37
Used car prices dropping ???? - Alby Back
It might just be me ;-) but I have noticed in the past that there seems to be a phenomenon of rapid fluctuation in the value of used cars. For example when I wish to buy one....... I am often assured that little can be done to reduce the price as these "will sell all day sir" or some such. However , perhaps only moments later the one I want to trade in has " not a lot in it I'm afraid sir " Only comfort I take is "'twas ever thus"
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Tue 27 Nov 2007 20:58
Used car prices dropping ???? - local yokel
When you carry as much stock as these guys, it's possible that they have found that in the last few weeks they've had to discount more stock, or discount it faster than previously to shift it. They probably have a policy of reducing the sticker price by X% if it hasn't moved after Y weeks, and then again until it shifts. Sounds like it's been too quiet on their forecourts.
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Tue 27 Nov 2007 21:03
Used car prices dropping ???? - Aprilia
Clouds have been forming over Pendragon for many a month. They are generally regarded as one of the worst employers in the retail motor industry. A lot of good people have left and they struggle to recruit.
Lots of fingers to get burnt in the near future I think....
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Tue 27 Nov 2007 21:23
Used car prices dropping ???? - Altea Ego
Clouds have been forming over Pendragon for many a month.
Lots of fingers to get burnt in the near future I think....


www.bloomberg.com/apps/news?pid=20601085&sid=aXgvH...e
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< Ulla>
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Tue 27 Nov 2007 21:00
Used car prices dropping ???? - Paul I
Whilst trade in prices are coming down the retail forecourt prices is pretty steady. In conditions like current ones where credit is harder to obtain or more expensive, christmas just around the corner etc dealers need to maintain prices to keep in business an extra £250 here and there can easily pay for a paper advert etc.

Speaking purely from a trade point a view if dealers all started to reduce prices etc the market would quickly crash. It's balanced about right at the moment with good deals to be had both on new and old. It's certainly not a sellers market as there's a lot of stock about that's taking time to shift. But the supply line is about right.
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