Credit Crunch Takes its toll:Volume 13 [Read Only] - Pugugly

***** This thread is now closed, please CLICK HERE to go to Volume 14 *****

To continue the debate on the effects of the so called Credit Crunch.

Vol: 12 can be found by clicking:- here

All CC related stuff will be decanted in here.


Keep it relevant, motoring is linked to the crisis, any "Yah Booh Politics" will be chopped.


Edited by Dynamic Dave on 21/02/2009 at 14:40

Credit Crunch Takes its toll:Volume 13 - Hector Brocklebank
It is very easy for people to blame the economic reforms of the Thatcher/Reagan years for our current woes. The trouble is, these reforms were absolutely necessary at the time. Without the decline of inefficient, loss-making industries, there would never have been the proliferation of profitable multi-nationals and successful small businesses we have today.

Labour inherited an economy who's rude health was the fruit of 18 years of transformation under the Tories and which was paid for by the jobs of millions. I applaud Labour's efforts on social matters as there was a very ugly side to Thatcher & Major's Britain. However, part of me thinks that things would have improved in industrial areas anyway had Labour never come to power.
Credit Crunch Takes its toll:Volume 13 - jbif
Honest Superhans


For a second, I thought it was a post by Honestjohn.

Why did "Alistair Darling" change his original copycat forum name to another semi-copycat "Honest Superhans" ?

Credit Crunch Takes its toll:Volume 13 - Falkirk Bairn
Camden Motors - BIG fleet business + 7 x franchises are reckoned to be heading for oblivion according to one of today's papers. Bedford area according to the article
Credit Crunch Takes its toll:Volume 13 - stunorthants26
I dont think its just the economy that would bring them down. Selling cars not their forte. Double glazing maybe :-)
Credit Crunch Takes its toll:Volume 13 - hxj

It's the same as every other recession - the weak big businesses are being squeezed out - some like Woolworths should have gone years ago - smaller businesses will be damaged where they depend upon one sector or customer or supplier - others are prospering and growing fast - they will decome the big businesses of the future.

Give it a couple of years and everyone will be wondering what all the fuss was about.
Credit Crunch Takes its toll:Volume 13 - Pugugly
Don't think that Woolies went under because of the credit crunch. It was a major flaw in their pensions and business plans. They probably would have gone anyway - anyway did Woolies sell cars ?
Credit Crunch Takes its toll:Volume 13 - Falkirk Bairn
Did Woolies sell cars ?

Dinkeys and Corgis IIRC
Credit Crunch Takes its toll:Volume 13 - Pugugly
Oh fair enough :-)
Credit Crunch Takes its toll:Volume 13 - Altea Ego
and they sold car bits and bobs...
Credit Crunch Takes its toll:Volume 13 - Hector Brocklebank
did Woolies sell cars ?


Yes, toy ones if I remember rightly. Had quite a collection as a kid.

Edit: Looks like I was beaten to it!

Edited by Honest Superhans on 01/02/2009 at 20:23

Credit Crunch Takes its toll:Volume 13 - Pugugly
Leave a Mod alone - I wished I'd stayed in bed today !
Credit Crunch Takes its toll:Volume 13 - hxj

My local one sold - oil, car cleaning stuff, car videos, DVDs, car music .........

or rather didn't sell ;)


In reality it did as the banks finally bit the bullet and decided not to finance any rescue package
Credit Crunch Takes its toll:Volume 13 - Vansboy
My local one sold - oil car cleaning stuff car videos DVDs car music .........
or rather didn't sell ;)


I worked for F W Wolworth & Co Ltd, years back, on their mangement trainee scheme & it WAS a strong & good company to work for. I learned a considerable amont, about customer care, as well as PROPER retailing & business skills.

&, back then they also operated Woolco, a superstore operation, with tyre bays.

& this is where I name drop.... actually I just happened to have dinner with Larry Hagman (AKA J R Ewing) in The Loews Monte Carlo Hotel, some years back!!

Courtesy of Dunlop, when they had him featured on their advertising for fuel saving Dunlop Elite tyre! The event was a weekend away to the principality, as a launch for the tyre!

& this was when I was also introducd to the Dunlop Ford Granada Estate, displaying registration A 1 !!

I think JR has survived, but not so sure of the number plate!!

VB
Credit Crunch Takes its toll:Volume 13 - madf
"Give it a couple of years and everyone will be wondering what all the fuss was about. "

Hmm. You wish.

UK economy contracted Q4 2008 at an annualised 6%.

US freight railroad traffic down 12%. Japanese exports down 9% in December.

These are NOT recession, it will go away in 2 years numbers.

These are Depression : 10 years to recover numbers.
Credit Crunch Takes its toll:Volume 13 - alex

Another major car dealer in trouble ...

It was rumoured in this Forum last week but it was officially announced today that Bedfordshire-based Camden Retail is now in administration. (Source: today's talkingmotors.com)

It's also believed that January's new car sales will be down by around 29 per cent. I read that the SMMT will be releasing last month's sales figures by the end of this week.
Credit Crunch Takes its toll:Volume 13 - smokie
"Camden Retail is now in administration."

Interesting, I think one of the cars on my wish list is from them. I guess I would have lost at least my deposit. When I eventually come to buy, I think I should make sure it's a quick transaction beginning to end so I don't get caught up in anything like this.
Credit Crunch Takes its toll:Volume 13 - Old Navy
These days I would only pay any deposit by credit card, (and pay it off at the end of the month), to shift the risk. Lack of credit card facilities is often an early sign of problems anyway.
Credit Crunch Takes its toll:Volume 13 - boxsterboy
That's sad about Camden Motors.

As a kid, I remember Dad dragging us over to their Leighton Buzzard garage so that he could drool over the cars lined up there (that's where I inherited if from!).
Credit Crunch Takes its toll:Volume 13 - Vansboy
I remember walking from showroom, to showroom, within the same building, there, on timber floors with Aurther Daily characters just waiting to pounce, as soon as you even looked at one of the cars, which any 'detailing' fan, would have been proud of.

Then going over the road, to see the equivelent model, sell for 'trade money', in the BCA!!

Not that I had any idea, what it was all about, back then.

But, that doesn't mean I've the slightest clue, these days, either!!

VB
Credit Crunch Takes its toll:Volume 13 - tyro
January car sales figures out today.
sales down 30.9% on Jan last year.

comparative figures:
Dec was down 21.2% on Dec last year
Nov was down 36.8% on Nov last year
Oct was down 23.0% on Oct last year
Sept was down 21.2% on Sept last year
Aug was down 18.6% on Aug last year
July was down 13.0% on July last year
June was down 6.1% on June last year
May was down 3.5% on May last year

SMMT wants the government to stimulate demand for new vehicles in the UK market. "A number of EU member states have launched scrappage incentive schemes, which have the benefit of boosting consumer confidence and delivering significant environmental improvements,? said Paul Everitt, SMMT chief executive. ?The UK motor industry is urging UK government to introduce a similar scheme and help sustain jobs and businesses throughout the sector.?

I.e. You scrap your old car, and the taxpayer will give you money off your new one.

Incidentally, the top 10 sellers for January were
1 - Fiesta - 8,833
2 - Focus - 5,805
3 - Corsa - 4,550
4 - Astra - 3,765
5 - Golf - 3,164
6 - A3 - 2,693
7 - 207 - 2,396
8 - Insignia - 2,276
9 - Jazz - 2,270
10 - Vectra - 2,076

So Honda aren't doing too badly if they can get a car into the top 10. Their market share is at 4.17%, compared to 4.77% for January 2008, and 3.93% over the whole of 2008.

Toyota did well, with a market share of 7.46%, compared to 5.24% in Jan 2008 and 4.96% over the whole of 2008.

Other marques that did well compared to last January were Nissan, Hyundai, and Jaguar (!).

Ford did OK: 18.69% (Jan 2008:16.34%, whole of 2008: 15.13%) despite the fact that the Mondeo was outsold by both the Insignia AND the Vectra!




Edited by tyro on 05/02/2009 at 10:38

Credit Crunch Takes its toll:Volume 13 - BobbyG
I assume this is based on registrations?
So VX will have registered a whole load of Insignias for promos, demonstrators, staff etc and probably sold on a load of Vectras to supermarkets etc to clear old stock?

The one that surprises me is the A3, 6th top selling car in the country for Jan?
Credit Crunch Takes its toll:Volume 13 - tyro
Bobby, I believe that you are correct about registrations.

The car that is missing from the top 10 is the 3 series, which was the 7th top selling car for the year 2008. I reckon that Audi is the new BMW. Yesterday I spotted a shiny nearly-new Audi in the village. The driver turned out to be a young lady who was driving a 1 series last time I looked, but has now got a new car.

Credit Crunch Takes its toll:Volume 13 - smokie
From the currant bun (but reported in newspapers too)

"FOURTEEN big high street names may go under the hammer after the dramatic collapse of an Icelandic billionaire?s business empire.
Playboy Jon-Asgeir Johannesson?s Baugur group filed for administration yesterday ? placing huge doubts over the businesses it has stakes in.

They are toy shop Hamleys, House of Fraser and clothing shops Principles, Warehouse, Coast, Karen Millen, Oasis, AllSaints and Whistles.... Iceland, Shoe Studio and jewellers Watches of Switzerland, Mappin & Webb and Goldsmiths."

I only make that 12 but you get the drift...

Credit Crunch Takes its toll:Volume 13 - Mr X
Something to make Mr X smile.

'Troubled car-giant Ford is facing strike action after announcing plans to axe up to 850 jobs and slash already agreed pay rises.

Ford's 'unprecedented' move comes as the recession deepens and new figures show car sales slumping by nearly a third last month.

Union leaders denounced Ford's actions as a 'betrayal' and said they would ballot for industrial action unless the company abandons plans to cut workers' pay to fund its redundancies.'

Good old Union reaction. Lets stop making cars and that will hurt a company that has fields full of them which they can't sell and which they have just increased the prices of.
Credit Crunch Takes its toll:Volume 13 - Alanovich
This is probably quite handy for Ford in the long run. When the economy recovers and they need to start building vans again, they can get them built in Turkey without too much fuss, as they will have already got rid of their British workforce. Tidy.

Edited by Alanovich on 06/02/2009 at 09:52

Credit Crunch Takes its toll:Volume 13 - BobbyG
Or then set up British factories with a huge Govt Grant to do so!!!
Credit Crunch Takes its toll:Volume 13 - Mr X
tinyurl.com/c9roby

What makes the new owners think they can make a success of the business when the present owners couldn't ? If they have a magic formula, then I can't wait to see it.

Edited by Honestjohn on 09/02/2009 at 10:16

Credit Crunch Takes its toll:Volume 13 - Mr X
Yes , I now know, wrong Tiny version. I shall no longer post links items, people will just have to take my word.

(Fixed. HJ.)

Edited by Honestjohn on 09/02/2009 at 10:17

Credit Crunch Takes its toll:Volume 13 - Dynamic Dave
Mr X, see my other message. Either version is fine. DD.
Credit Crunch Takes its toll:Volume 13 - jbif
Either version is fine. DD.


In both cases, though, wasn't the TinyUrl unnecessary?

www.honestjohn.co.uk/forum/post/index.htm?f=2&t=52...3
" ... your overlong link .... "

www.honestjohn.co.uk/forum/post/index.htm?f=2&t=33...4
" ..... If the URL link you want to post is very long, then use the TinyURL Shortcut Link found at the top of the Discussion & Technical Matters page. .. "

Edited by jbif on 09/02/2009 at 10:21

Credit Crunch Takes its toll:Volume 13 - csgmart
In both cases though wasn't the TinyUrl unnecessary?


Your point being? Or is this just another opportunity at a "dig" at Mr X.
Credit Crunch Takes its toll:Volume 13 - L'escargot
Lets stop making cars and that will hurt a company that
has fields full of them .........


Ford hasn't got fields full of cars. They're all made to order, whether the order is from dealers for stock or requested by a customer.
Credit Crunch Takes its toll:Volume 13 - smokie
Extract from Reuters today:

"Nissan and Toyota, two of Japan's biggest car makers, have announced dramatic losses over the weekend that will send shockwaves through the motor industry and lead to heavy job losses....Toyota, which is widely considered to be one of the strongest car makers in the world, warned that losses this year could be three times bigger than previously predicted. Its accountants projected a whopping deficit of £3.3 billion for the financial year.....
Nissan, on the other hand, is poised to slash around 20,000 jobs worldwide as it battles to protect its position. The company, which is 44 percent owned by Renault, ....
There's no word yet on how these bleak results will affect workers at Nissan's Sunderland factory in the UK. Shifts there have already been cut to avoid stockpiling cars that aren't selling."

Full article at motoring.reuters.co.uk/reuters/vocmain.jsp?lnk=101...7
Credit Crunch Takes its toll:Volume 13 - Mr X
I find it hard to believe that companies like these which are working on models to be released not next week, not next month but in several years hence, had no idea of the state of the market in which they currently operate.
Credit Crunch Takes its toll:Volume 13 - movilogo
Just like estate agents, car markers also seem to oblivious to the reality. This is worst recession in hundred years and they are yet to realize this.

If people buy cars only when they need cars rather than when they want it, the car market will just struggle (with many other markets).


Credit Crunch Takes its toll:Volume 13 - Waino
On the news last night we learned that the former FSA deputy chairman and advisor to Broon, Sir James Crosby, drives a BMW X5 with blacked out windows. Surely this should have told Broon something :-(
Credit Crunch Takes its toll:Volume 13 - henry k
Carmaker Mercedes Benz has appointed a new franchisee to replace Bristol-based Commercial Motors (South West) which went into administration last Friday.

news.bbc.co.uk/1/hi/england/somerset/7891310.stm
Credit Crunch Takes its toll:Volume 13 - ifithelps
Bad news for Mini workers as BMW swings the axe:

news.bbc.co.uk/1/hi/england/oxfordshire/7891913.stm

Edited by ifithelps on 16/02/2009 at 07:10

Credit Crunch Takes its toll:Volume 13 - Hamsafar
A bit ridiculous that yesterday MINI said it was 'entirely speculative' that 850 jobs were about to go, and then 12 hours later they are gone!
Credit Crunch Takes its toll:Volume 13 - L'escargot
So did demand for water go down? Did people stop flushing their toilets?


I know people who only flush the toilet when there's solid matter to be got rid of. Others put bricks and things in the cistern to reduce the amount of water used for each flush. And, of course, some people use a shower instead of a bath to reduce their water consumption.
Credit Crunch Takes its toll:Volume 13 - Mr X
When car depreciation got out of hand, I had a choice so no longer bought new.
With water, I have no choice. I am using less and less of the stuff but my metered bills continue to rise year in , year out.
Credit Crunch Takes its toll:Volume 13 - L'escargot
but my metered bills continue to rise year in year out.


And your salary/income probably does as well!
Credit Crunch Takes its toll:Volume 13 - Mr X
No , it doesn't. I am self employed. I charge only what the market will stand.
Credit Crunch Takes its toll:Volume 13 - smokie
Mr X isn't the only one - I work for a large company, and I haven't had a decent rise (more than 2%) since 2000, and some years it's been zero. I know, with hindsight, I should have changed companies etc but I had my reasons. I now think I'm getting close to redundancy from the company, for whom I've worked for over 20 years. They will pay me statutory minimum, no lump sum etc. I am nowhere near old enough to get a pension but probably too old to get a "proper" job (currently 53).

I guess your comment was tinged with some envy L'Escargot, but working isn't all roses these days...
Credit Crunch Takes its toll:Volume 13 - El Hacko
A listener just told 5 Live radio he had been waiting "for weeks" but still can't get a test-drive in a Vauxhall Insignia. My son's a builder, just done an estimate for a man who said he'd had 2 builders round over last 5 months .. and still hadn't received their quotes for an urgently needed loft conversion. Whatever happened to basic good business practice?
Credit Crunch Takes its toll:Volume 13 - tintin01
I think many builders have always been like that. We rang 10 builders trying to get quotes for knocking kitchen through into utility room. Most said they'd phone back but didn't, one made and missed two appointments, one quoted £22k. These were mostly people recommended by others. Ended up with someone out of the paper who did it for £3.5k.

I agree though, that in times like these you would think they would be a bit more interested. I think in the past some trades, like EA's, haven't had to try too hard. The deepening recession might focus their attention on customer service a bit more.
Credit Crunch Takes its toll:Volume 13 - Mr X
I would have said that over the last 10 years, the motor trade, especially those selling vehicles, has not had to try to hard either. Thing is, they don't seem to be going the extra mile during the current crisis.
Credit Crunch Takes its toll:Volume 13 - madux
An electrician at work told me last week that the jobs are still out there but "Now they tell you how much you will be paid, instead of the other way round". Refreshing.
Credit Crunch Takes its toll:Volume 13 - jbif
"UK car production falls 58.7pc"

www.telegraph.co.uk/finance/financetopics/recessio...l

UK car production fell 58.7pc in January, confirming the dramatic decline in the country's motor industry
Credit Crunch Takes its toll:Volume 13 - rtj70
We already knew before Christmas that production would be down a lot - they shut the factories for a bit.

What needs to happen is for people to buy cars.