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clan chieftain
Joined: 05 Apr 2008
Posts: 2041
Location: Motherwell
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 Posted: Tue Nov 11, 2008 11:19 pm Post subject: Credit Crunch. |
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Is it now starting to affect the motor trade.
I have a pal who works at Volvo Trucks in Blantyre and the whole group are on 90 days notice.
It is also rumoured that GM are in a bad way also.
It is also affecting main dealers like Parks of Hamilton and Arnold Clark who are cutting back on staff and their advertising because their sales are well down. It will get worse before it gets better. 
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The Clan Chieftain |
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Job-Rated
Joined: 23 Nov 2007
Posts: 1010
Location: Sugarbeet County
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| Posted: Wed Nov 12, 2008 12:45 am Post subject: |
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I heard GM are $6.9 Billion in debt....
They were looking to merge with the Chrysler group, but then they discovered that Chrysler were in the same boat...
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Don't run your fingers over my truck & I won't run my truck over your fingers!
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buzzy bee
Joined: 23 Nov 2007
Posts: 3382
Location: South Cheshire
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| Posted: Wed Nov 12, 2008 9:07 am Post subject: |
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Hi
Bentley are on a 3 day week are they not?
Cheers
Dave |
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Rick
Site Admin
Joined: 27 Apr 2005
Posts: 22820
Location: UK
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buzzy bee
Joined: 23 Nov 2007
Posts: 3382
Location: South Cheshire
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| Posted: Fri Nov 14, 2008 2:09 pm Post subject: |
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| JCB in the same boat and was it DAF on the news? |
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47p2
Joined: 24 Nov 2007
Posts: 2009
Location: Glasgow
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| Posted: Fri Nov 14, 2008 4:37 pm Post subject: |
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What Credit Crunch!!!
| Quote: | Shares are plunging, a global recession is looming and even the super-rich are having to tighten their belts.
But a multi-million pound auction today will see the credit crunch well and truly bucked with investors expected to spend up to £15 million on classic cars.
Those with the cash to spare will be able to splash out as much as £3 million for a single car at the auction in Battersea Park in London. |
Mail Online
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ROVER
One of Britain's Fine Cars |
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47Jag
Joined: 26 Jun 2008
Posts: 1480
Location: Bothwell, Scotland
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| Posted: Fri Nov 14, 2008 5:52 pm Post subject: |
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John,
The McLaren went for £1.2 million.
Art |
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47p2
Joined: 24 Nov 2007
Posts: 2009
Location: Glasgow
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| Posted: Fri Nov 14, 2008 6:31 pm Post subject: |
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| 47Jag wrote: |
The McLaren went for £1.2 million.
Art |
I will bet you won't see it at any classic rallies 
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Scotty
Joined: 23 Nov 2007
Posts: 883
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| Posted: Fri Nov 14, 2008 7:15 pm Post subject: |
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| Job-Rated wrote: | I heard GM are $6.9 Billion in debt....
They were looking to merge with the Chrysler group, but then they discovered that Chrysler were in the same boat... |
When we were sitting in Newark Airport in the US on Wednesday afternoon the TV had a news flash that the "Big 3" (Ford, GM & Chrysler) had requested the US Government for $125 Billion to bail them out or there was a strong likelyhood the US car industry would collapse before the end of the year.
Scotty. |
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Job-Rated
Joined: 23 Nov 2007
Posts: 1010
Location: Sugarbeet County
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| Posted: Fri Nov 14, 2008 7:51 pm Post subject: |
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It's not surprising.
All the scaremongering about global warming has had the effect of forcing the auto industry to look to alternatives other than fossil fuels, which has meant serious investment in research.
The banks have been lending money hand over fist to anybody & everybody, credit card companies have been offering 0% fees for transferring, which so many, many people have taken advantage of, for atleast 10 years & now we're seeing the effects.
On a side note, China have taken over most of the American car part production & it wouldn't be so bad, but the quality of the parts is appalling.
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Don't run your fingers over my truck & I won't run my truck over your fingers!
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Rick
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clan chieftain
Joined: 05 Apr 2008
Posts: 2041
Location: Motherwell
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| Posted: Sat Nov 15, 2008 11:15 am Post subject: |
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The follow on will surely then be that our market will be flooded with more shoddy parts...we already have Trupart which is rubbish with ball joints falling out of suspension arms after a month. Then you get the numpty who says he only buys dealer parts. So when did Merc or BMW start making their own filters. You change a filter for the first time and its a Mann Hummel. Most plugs are made by NGK Yet you get garages who only want to buy Ford or Vauxhall plugs....idiots. "Oh it will affect my warranty" is the answer you get. Main dealers are conning the public and garages into getting their cars serviced by them whilst they are still in warranty and charging them fortunes to have it done.
IT COMES WITH A 6 YEAR WARRANTY.....Yes as long as you get them to service it and they shaft you into the bargain.
Must get my breakfast now ..its too early in the day to be ranting. 
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pigtin
Joined: 23 Nov 2007
Posts: 1879
Location: Herne Bay
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| Posted: Sat Nov 15, 2008 11:40 am Post subject: |
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Our little company has had to stop importing parts from the States, there being no way to second guess what is going to happen to the pound or know what to quote the customer. As a Double whammy! the carriers have also doubled their charges.
We're having to fall back on technical services and repairs.
Spare a thought for the guys in the States who export to the UK... they really must be hurting.
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Scotty
Joined: 23 Nov 2007
Posts: 883
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| Posted: Sat Nov 15, 2008 12:25 pm Post subject: |
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| pigtin wrote: | As a Double whammy! the carriers have also doubled their charges.
We're having to fall back on technical services and repairs.
Spare a thought for the guys in the States who export to the UK... they really must be hurting. |
I do understand the point you're making here pt, and a part of me feels for many of these companies, especially the small "Mom & Pop" companies in the US.
However what has got my shorts in a bunch is the stance large companies appear to be now taking, in my case Danchuk in California who wanted $90 to send a $23 brake pipe to me here in Scotland. They refused point blank to send it "Surface" like they used to saying they now only ship overseas using FedEx or DHL. And what has that policy achieved for them - they have lost one overseas customer who used to buy a steady stream of parts from them.
Short-sighted is the only word I can think of as I'm certain European customers must make a fair contribution to their pay packets at the end of each month. If they want $90 to ship a tiny item heaven knows what it'll cost to ship something large.
(As a PS to this a friend in the US bought the pipe locally for $12 and shipped it surface for $6.50, where it arrived two weeks later - I didn't even have to pay customs on it.  ) |
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Job-Rated
Joined: 23 Nov 2007
Posts: 1010
Location: Sugarbeet County
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| Posted: Sat Nov 15, 2008 2:12 pm Post subject: |
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Apparently, it's not going to save you a fortune, but anything less than £105 from outside the EU will now be duty free. May speed things up a little in customs for those smaller bits and bobs...
http://news.bbc.co.uk/1/hi/business/7727717.stm
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Don't run your fingers over my truck & I won't run my truck over your fingers!
http://www.loosechange-band.co.uk/ |
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