Market Report briefing – August 2012
- August 6, 2012
- UK Market Reports
- Posted by Clive Sutton
- Comments Off on Market Report briefing – August 2012
Welcome to the third edition of the Clive Sutton Market Report. This time, we have moved online, something we have done to improve what the Market Report can offer.
An online Market Report is more accessible to more people and, more importantly, can be updated more often. In the fast-paced world of premium automobiles, this is important. It is my intention to bring you the latest trends as they occur, and I’ll be using our new platform to do this.
Our focus remains luxury, high-performance and supercar models. We offer a British view of the world’s most prestigious machines, from our years of experience in the UK market. We blend this with many years in the international markets too, for added extra perspective of the trends that matter.
We analyse prices, looking across the market to draw up our unique Clive Sutton Market Price. We believe this is the most insightful price out there, taking feeds from official trade sources and actual cars on sale, then using our own in-house expertise to judge the realism and provide our own realistic price.
The Clive Sutton Market Price is THE price you should be paying for any car, from any year, in our Market Report – and all that we do is based around the picture of the market it reveals. You are always welcome to contact me directly for specific valuation advise about your own car. ( firstname.lastname@example.org)
The state of the market – July 2012
The market in summer 2012 has reached an interesting tipping point. It has actually been pretty stagnant for several years now, as rich buyers have held off to see how the economy develops. Most luxury brands have great new or updated models in their ranges. The overall size of the new car market north of £75K is at least 30% down on pre 2008 volumes yet we have a wider range of derivatives. Porsche 911 has over six different vanilla derivatives as does the Bentley Continental GT. So much more of a buyers market.
Finance remains a problem. There is still a lack of easy access to credit and my trade experts tell me this is unlikely to change soon. There is too much adverse economic activity in the Eurozone for a focus on UK borrowing by lenders to be a priority.
2012 won’t be helped for other reasons too – with the Jubilee, the European football championships and now the Olympics, there are too many disturbing months ahead of us for the market to see any sustained and focused upturn. There will be lots of tourists and, particularly in London, lots of reasons for premium market buyers to extend their summer vacation out of the country.
I don’t expect the market to hint at a recovery until the autumn. Which means now is a great time for smart buyers to re-enter the market.