StanfordCardGT3

I do wonder if people who have money will even be buying luxury cars given they can't really drive them anywhere now?

Manifold

I guess pricing will come down to both demand and supply, both of which are in flux.

AllAboutThatP

No problem driving where I live, other than it just being cold. I live in the country with winding, hilly country roads everywhere. Perfect for driving and nobody cares.

Manifold

The plan presented by the White House today for phased re-opening of the economy seemed somewhat encouraging. It relies on targeted isolation of people based on extensive testing and tracing, and so far we seem to have woefully lacked that capability, but maybe that capability has been ramping up enough to do the job in the coming weeks and months. The approach would be similar to what South Korea has been doing, and they've managed to keep their numbers of cases and fatalities quite low for a country of ~50 million people, and the percent impact on their GDP also seems to be only a fraction of what we've experienced in the US. We still have a shortage of proper masks for the public and PPE for health care workers, but maybe that will soon get fixed also.

So I'm somewhat more optimistic now, though there are still concerns about infection not creating lasting immunity for a significant percentage of people, complications and impacts of repeatedly ramping mitigation up and down, willingness of the public to continue mitigation, reduced demand due to fear of going out until the virus is eradicated, delays in getting an effective vaccine, etc.

But as long as there's some basis for optimism, maybe GT car values will hold up.

I'd be interested in others' thoughts on this latest development. What am I getting wrong?

Waxer

Very simply, my thought is that the vast majority of people who would spent big $ on toys has dwindled and will stay dwindled for quite some time until this is far behind us and a treatment medication has been widely accepted and/or there is a vaccine.

People will be saving more for a rainy day now and we don’t know how long a recovery will take or even last. This will affect used values and production and timing of new models imho.

The herd is not analytical just emotional. If the herd panics and runs again we all get caught up in it.

People now see it can happen to them and just not those they see on t.v.

Manifold

I tend to agree. I recently saw the first signs that my business could slow down, and that has me reconsidering some purchases I was contemplating (e.g., a 997.2 GT3 RS, the prices for which haven't really dropped that much yet anyway).

Avalon911

In PA, every dealership was forced to close. 100%. Period. Service departments are open, but running at a fraction of normal. Not a single car being sold.

Jimmy-D

Same here in Chicago. Service dept open, as well.

But keep in mind cars may not be selling but they also are not producing any

What is funny is 3 weeks ago I contacted a Dealership because my Wife's lease is up on her SUV and they actually came to my house for me to test drive, by Myself, a car that I am considering.