New car registrations as an indicator of economic stability.

[Kopek]

There's the answer to extravagant motoring.........

Syphon off Govt vehicles' fuel???

[Max Power]

12 minutes ago, Kopek said:

Are 'New Car Registrations', brand new or just new to the Island?

With Betteriges and Jacksons import of 2nd hand, even if almost new cars, would that skew the figures?

Just brand new car registrations. Not necessarily supplied by an island dealer though, just first registered here. The 'nearly new car' phenomenon is nothing new and was always a large part of car sales on the island. It's due to manufacturers pre-registering cars to boost their sales figures and then dealers off loading them at big discounts. 

UK new sales were riding high at record levels during this period, the IoM has not matched this, quite the reverse in fact.

[Ham_N_Eggs]

38 minutes ago, Last Ten said:

I am quite interested in buying a new car but all this electric/hybrid/low emission crap is just making me uncertain so I won't part with my money until I sure that whatever I buy is future proofed! Bet you thats why lots are holding back from buying new.

It doesn't help that the price of most second hand electric/hybrid/low emission car is in excess of £12,000 nearly half the median wage of the Island.

[Kopek]

Max, wouldn't that indicate that the local nearly new market, which I would say was started in earnest by Betteriges, is how we now look for a new to us car?

Remember the original Micra and Civics which floooded our roads, almost knocking the Fiesta of the top spot? That was from brand new sales. Is there any chance that the new Micra, quirkely sculpuptred though it is, will achieve those sales? ...and well, the Civic does not exist as a small car anymore!

[Uhtred]

31 minutes ago, GD4ELI said:

Mine's a 2014 Volvo, I'll probably keep it until I'm either too old or too stupid to drive anymore. 

A couple of months either way then.

[Kopek]

Just a couple??? With Spaniel licking his face on those Cornwall roads, he should hand in his license???

[WTF]

1 hour ago, GD4ELI said:

Mine's a 2014 Volvo, I'll probably keep it until I'm either too old or too stupid to drive anymore. 

how much are you asking for it ?

[yootalkin2me]

At least four factors at work here:

1) There will be a lot of people hanging on until there are enough types of electric vehicles that suit their needs and that have been on the market for at least a couple of years so they don't have to spend an absolute fortune on one.

2) People are content with what they have and don't feel compelled to 'keep up with, or out do, the Jones's'.

3) People are becoming more environmentally aware and are keeping their cars longer than they used to.

4) Cars maybe aren't the status symbols they once were, maybe people are spending their money on holidays and experiences in the thinking that life is short and it's those things that are more important to them.

[Mr Helmut Fromage]

2 hours ago, Max Power said:

I've just seen the new car registration statistics for the twelve months up to March 2019. Bear in mind that the figure up until c.2008 was always around 2,300 new units and had fallen as low as c.900 up to about four years ago, we now have a figure of 734 new cars registered over the twelve months. 

This is an indication of many things, not least that people don't have as much disposable income as they once had.  

 

Max you were long enough in the industry to know that Ocean Ford shipped hundreds of cars here to register allowing them to hit all their volume bonus targets for ££££££ as little profit in the actual car, remember the field behind the Airport site with 400 New Fiestas on it - these were then shipped back to the UK on minimal mileage and sold out of the sister company (Bury ????) as approved used - double dipping the manufacturers bonus.

[Non-Believer]

4 minutes ago, yootalkin2me said:

At least four factors at work here:

1) There will be a lot of people hanging on until there are enough types of electric vehicles that suit their needs and that have been on the market for at least a couple of years so they don't have to spend an absolute fortune on one.

2) People are content with what they have and don't feel compelled to 'keep up with, or out do, the Jones's'.

3) People are becoming more environmentally aware and are keeping their cars longer than they used to.

4) Cars maybe aren't the status symbols they once were, maybe people are spending their money on holidays and experiences in the thinking that life is short and it's those things that are more important to them.

Did you miss out, 5) People are increasingly skint...? 

[Annoymouse]

How does the price of a new car now compare to say 10 years ago?

[yootalkin2me]

35 minutes ago, Non-Believer said:

Did you miss out, 5) People are increasingly skint...? 

I don't believe that to be the case in general.

[Max Power]

2 hours ago, Kopek said:

Max, wouldn't that indicate that the local nearly new market, which I would say was started in earnest by Betteriges, is how we now look for a new to us car?

Remember the original Micra and Civics which floooded our roads, almost knocking the Fiesta of the top spot? That was from brand new sales. Is there any chance that the new Micra, quirkely sculpuptred though it is, will achieve those sales? ...and well, the Civic does not exist as a small car anymore!

 

36 minutes ago, yootalkin2me said:

At least four factors at work here:

1) There will be a lot of people hanging on until there are enough types of electric vehicles that suit their needs and that have been on the market for at least a couple of years so they don't have to spend an absolute fortune on one.

2) People are content with what they have and don't feel compelled to 'keep up with, or out do, the Jones's'.

3) People are becoming more environmentally aware and are keeping their cars longer than they used to.

4) Cars maybe aren't the status symbols they once were, maybe people are spending their money on holidays and experiences in the thinking that life is short and it's those things that are more important to them.

 

31 minutes ago, Mr Helmut Fromage said:

Max you were long enough in the industry to know that Ocean Ford shipped hundreds of cars here to register allowing them to hit all their volume bonus targets for ££££££ as little profit in the actual car, remember the field behind the Airport site with 400 New Fiestas on it - these were then shipped back to the UK on minimal mileage and sold out of the sister company (Bury ????) as approved used - double dipping the manufacturers bonus.

All the above is certainly true but these nearly new cars all come from the UK and are more easily available, in fact more so and with more choice, to UK customers. The UK market over the same period broke all previous records at over 2.5m new cars. Some of which will be those cars offered later as nearly new of course but the vast majority will be bona fide sales. As I said, the nearly new market has always been there, we were doing it in the 90s but there was always a desire to be first owner too, something it seems Manx buyers are not able to afford in the previous numbers anymore. Mylchreests used to sell off hundreds of hire cars with very low mileages, most to the UK, in the 70s. 

[Non-Believer]

21 minutes ago, yootalkin2me said:

I don't believe that to be the case in general.

It is in mine, certainly over the past 8 years. Taxes and charges from Govt up, along with general cost of living and wages certainly not keeping up. And I very much doubt that I'm alone.

[Non-Believer]

21 minutes ago, Max Power said:

Mylchreests used to sell off hundreds of hire cars with very low mileages, most to the UK, in the 70s. 

And there's an indicator by itself - from the days when we had a tourist sector that needed those quantities of hire cars. Wonder what the hire market is like now in comparison?