Quote:
Originally Posted by chassis
New lower price levels are being established in my search window for the oldest models and less desirable colors. Nothing I would jump on, and no collapse of prices. But price slippage nonetheless.
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I think the demographic who are in the market for luxury or gently used luxury cars were not as heavily impacted by the pandemic. Lots of working professionals just started working from home.
Im in Canada and I believe the US lay-off/furlough impact was similar to both of our economies, where people who earned less were hardest hit (ex. retail, manufacturing, food industry, etc.)
We have a lot of US customers (software service business) and almost everyone kept their IT staff/senior execs/etc. (some took a pay cut) but the only furloughed staff were those at the bottom of the food chain in those organizations.
It'll be interesting to see the impact on the used car market for higher dollar vehicles. Like someone stated earlier - Porsche resale is still strong/flat. The town I live has a very small Porsche dealership and I see inventory rotating off their lot/new inventory coming in throughout the pandemic.