car prices are upside down . Inversions only occur occasionally when the market is depressed and cold. Dealers sell cars to to destock , and second-hand car dealers are unwilling to compromise on price. There is a weird situation where the price of second-hand cars is even higher than that of new cars.
Two days ago, Tianjin Port released a batch of large stocks of domestic 5 Prado that were listed in 2019. The price was 680,000 and they were "snatched up", which can be regarded as a new height of successful speculation.
But this situation is very rare. The overall performance of the passenger car market this year is dismal. Not only the sales of the traditional car market have been squeezed, but the second-hand car market is also extremely dismal. For ordinary people, we cannot actually feel the depression in the new car market, but the coldness of the used car market is really bone-chilling.
The deterioration in the liquidity of used cars is amplified when self-employed individuals have weak financial resources, poor risk resistance, and many retail investors. The most direct feeling is that in the second half of this year, a large number of car dealers choose to avoid risks and close their cars.
Some car dealers who are still willing to take over the car have lowered the vehicle price in advance. The residual value of used cars has collapsed. The problem of losing money for three years after one year of driving has emerged. This year, the value preservation rate has collapsed. Another part of the car dealers who are not willing to take over the car choose to persuade "consignment", which is a zero-risk operation method.
Taking the middle of the year as the node, the second-hand car market in the first half of the year performed normally. Car dealers collected cars normally, sold them normally, and were able to earn a certain profit.
But the premise is that the prices of new cars have generally increased last year, and the prices of luxury brands such as Lexus , Porsche , and BBA have been rising. The overall lack of cores has pushed the entire passenger car market to a higher price.
In other words, the purchase prices of car dealers in the first half of this year are generally not low.
For example, Porsche 911, a vehicle that was launched around 2013, was purchased for around 600,000 yuan in the first half of this year. However, the market crash in the second half of the year caused the price of the 911 to quickly drop to around 500,000 yuan. It is a niche, slow-selling, slow-selling model. The car dealer bought the model at a high price for half a year but has not yet sold it, resulting in a direct loss of 100,000 yuan.
either held back and refused to sell, or waited for the right person, which made the overall business situation tense in the second half of the year. Therefore, car dealers chose to operate conservatively in the second half of the year and close the cars at ultra-low prices.
Unlike second-hand car dealers, dealers and car companies are more like players in the upstream food chain. On the one hand, they have sufficient financial reserves and can withstand the pain of cutting their flesh.
For example, locally, the price of the Audi A6L for large customers, brand-name brands, small stocks, and non-mainstream colors with low configurations has reached around 330,000. And some second-hand car dealers who are not willing to cut the price even offered used cars at the beginning of this year for 350,000.
This shows that most second-hand car dealers have been forced into a corner. It is not possible to withdraw, and it is even worse not to withdraw.
The deterioration of the overall consumption environment for high-end cars is the fundamental reason why dealers and second-hand car dealers have become passive. Models with more than 200,000 yuan are necessities of life, especially luxury models like BBA. The attitude of buying up and not down will always give people an infinite sense of crisis. What's more, the New Year's Eve is a big deal for second-hand cars. After the New Year's Eve, there will be a depression and bleak cycle for second-hand cars, and prices will continue to fall.
Whether to buy new or old is a choice that everyone will make. The iteration cycle of the domestic passenger car market has been shortened to three years. Some companies set model changes as two years or even one year. Vehicles that cannot be sold in half a year have huge risks, and this will inevitably accelerate the rate of depreciation.
This also means that second-hand car dealers who purchased vehicles at high prices in the first half of this year will face a heavier blow after the end of the year.
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