Starting to see a lot more cars on the market

Millions. 40 million used vehicle sales per year in the US. A glut of off-lease luxury / exotic SUVs is not indicative of inventory in the entire market (which is still very low).

 

Why is MM millions, though? That doesn't make sense to me.

 

Roman numeral M (1000) times M (1000) is a Million

 

OK, but MM is 2,000 in Roman numerals. An M with a bar over it is 1,000,000.

 

I guess it is an archaic hangover from the old days.

 

From before the Romans?

 

I agree with your figures, but those profit numbers are after the amortization of factory buildings, depreciation of all machines, corporate salaries, marketing budget, etc.

I'm going just by the cost of parts and the labor to slap them together. Hell, it's probably $20,000 and not anywhere near $30,000 for a $240K auto.

 

I can't assume you are an industry insider because those numbers look too round to me

 

https://corporatefinanceinstitute.com/resources/knowledge/other/mm-millions/

 

I saw a funny photo of a fake MasterClass promo: "Cathie Wood Teaches Bag-Holding."

 

Pretty sure M is 1,000 and MM is 1,000 + 1,000 whether you're Roman or Latin. An M with a bar over it is 1,000,000.

 

Maybe M with a bar over it is simply less handy for people preparing docs in Word or Excel.

 

Be careful with those Roman numerals.
I= 1
V= 5
X= 10
L= 50
C= 100
D= 500
= 666.

 

A single lowercase 'm' is handier still.

 

Just like the economy, the car market also has a split personality based on who you are.

https://robbreport.com/motors/cars/luxury-car-sales-increasing-america-1234746511/

 

Oh, I don't know, at my funeral most people will be saying, "Gee that guy sure owed me a lot of money".

 

Watching BAT today and I see that 488 values are definitely softening. This Spider has my ideal spec — absolutely exactly what I'm looking for, although it doesn't have FAL. Anyhow, 6 months ago this would have been a $320K car all day long...today it was RNM at $270K.

A very wise gentleman on this forum told me, this past June, "if you really want a late-model Ferrari and don't need it yesterday, wait 6 months." That advice seemed correct then, and seems correct today...

 

Oh and then there was this 488 Spider with 2,600 miles that went RNM at $284K. Dealers are advertising Spiders with that kind of mileage at $330-$380K. I'm assuming many of those cars are consigned by owners who haven't yet adjusted to the new market realities. It will be interesting to see where these prices are in Q1 '23...

 

Keep holding. The prices will continue to fall. We really won't be seeing the effects of the rate hikes for another year or maybe a bit longer. The downward trend started early this month. We are just at the very beginning.

My local exotic guy has 8 in stock..and more a phone call away. All are consignment. He is not buying any inventory right now. They have already dropped close to 100k from peak..they still have room to drop a fair amount. It's a high production car by Ferrari terms.

 

Nah, used car prices will hold longer. New car manufacturers still can’t pump enough out. BMW down to Toyota still aren’t coming off MSRP when buying new and making record profits. This will prop the used market up longer. The rate hikes will crush the real estate/mortgage industry. The Feds will turn hawkish at some point but at this point we are close to the EV car era. If people believe the EV era will tank the gas powered Ferrari/Lamborghini era cars you are way wrong. Nothing EV will be able to replace the sound of an actual V10 Lamborghini or Ferrari gas powered motor. All these cars will be worth money in the future.

 

Wow! I had no idea. So is the 488 the most mass produced Ferrari ever?


Image Unavailable, Please Login

 

Ferrari is not releasing total production numbers anymore. But I have a hunch 488 production is very close to 20k total.

These cars will drop significantly in price next year. The cars are also starting to show thier apatite for expensive repairs.

Like the Testarossa..which only 7500 where ever made, that car is still depressed in the market. They went up for a little bit then tanked again. Some 20k 488's with looming big buck repairs (like the TR) makes for a car ready to drop like a stone.

Maybe I'm wrong..but the market is shifting extremly fast.

 

the f40 number is incorrect.

 

Toys ALWAYS follow realestate. Once home.prices start dropping and liquidity starts to dry up..out go the toys..they are always the first things to go. You cannot compair the general used car market to the exotic market. One people purchase as an appliance/necessity..the other market is simply a luxury.

 

360 numbers are way off. 16k of those across all variants..