The Supercar Market Has CRASHED! (BUY YOUR DREAM CAR NOW)
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- เผยแพร่เมื่อ 25 ม.ค. 2024
- Supercar Market - Boom to BUST! - The Supercar market has transitioned from an unprecedented period of growth to a complete downturn resulting in some incredible deals now being available on previously Hyped cars.
In today’s video we provide a live status update on the Supercar market searching across the following key car categories…
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- SuperCars
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- Hypercars
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The Supercar market has transitioned from an unprecedented period of growth to a complete downturn resulting in some incredible deals now being available on previously Hyped cars.
In today’s video we provide a live status update on the Supercar market searching across key car categories to understand which have been affected the most.
Which Sports/Supercar drop has surprised you the most?
Well, if we take into account recent releases, 2020 ->, I would say the models from the brands you're covering here seem like all are taking a hit. Let me be a bit more specific, taking the 991.2 GT3 RS I'm being offered and comparing it to the new 992 RS with its inflated price by dealers, it seems the trend is worst for this ones. 2019 .2 RS prices are stable. 992 is new, the hype and all that, but I feel, and from your video, that the prices are starting to slide down to where they should be.
So, if I'm not mistaken, this purchase is not so out of the park.
It's not that it's crashed..... it's getting back to normal.
For some cars/sectors yes, a normalisation from the spike.
Hard to feel sorry for flippers.😊
For many of them it is just another business commodity.
Sorry? No, no one should, they take the spot from someone that maybe did want to use the car and not see it like a profit. So, Just another business? Yes!.
I knew something was up a few years back when I went to order a GT3 and OPC said you can leave a deposit… “but you will be 100th on list and I have only 7 cars allocated this year”. For heavens sake, 911’s are mass produced!… only a few components actually differentiate between stock Carrera and the RSR… Porsche have “gamed” the market acting like Ferrari…. Maserati haven’t and never could pull off this trick… the MC20 was overpriced at launch. Aston have identical issue. I had DP9 Volente in 2006 and list price was £135k ish… whereas equivalent now is £250K…. Crazy increases.. 🤷🏻♂️
RS is considerably different to a base Carrera but I take your point.
The drop alone on that yellow Lotus would buy you a half decent Porsche Boxster 981.
Some crazy deals available now.
Why in the wide world would you ever pay above list for a mass produced car? This only supported flippers for the last three years. They get lower in the next 2 years don't buy now
Human nature…people want what they can’t have!
True
Gt3rs aren’t really in the mass production.
Not mass but also not limited by dedicated numbers.
Very true but production in the thousands not hundreds
People believe the hype paying $300,000 for a stock production car was insane when list was 150
Agree.
I bet that those well heeled enough to be looking at a 375K car in the first place are not going to be that excited that it is now 47K cheaper. Loose change to them and unlikely to sway their decision. It's only a 'bargain' to those of us who are in no position to actually buy!
Hmmm, maybe it would come as a revelation but even those that can afford those priced cars often will use finance.
Great channel love to buy a porshe but my budget is 30k
Thank you.
Your Chanel is so underated
Keep going
Thank you!
Nice article Rich. I for one am glad that the bubble has burst and depreciation has returned to car prices. Am closely monitoring the 488 Pista and 765LT, intending to pull the trigger as soon as they dip below £200k, in a couple of years maybe.
Thank you, really appreciated.
You have to be careful with the waiting game...if the interest rates drop below a certain threshold many waiting may decide to buy which will trigger the market to pickup.
You are quite right, Rich, interest rates are critical. However, with an imminent Labour government desperate to placate their union masters, I suspect that they will increase spending through higher borrowing which will keep rates higher than most of us would like.
Rich, congrats 🎉 on this video. It's excellent, im subscribing. Keep the food work. Also, could you do the same for the US market on the ferraris, porsches, etc. It is ridiculous the prices here. 500k+ for a 2019 pista coupe, yikes!!
Thank you.
Porsche prices are crashing hard
try insuring a 4.0 S engine..... if its less than 2k a year to insure.... bargain. 22k they wanted from me for a year
Well done Rich great video perfect for a Friday evening with a J D with ice.
Thank you…much appreciated.
SF 90...tanking.... Pista 8 k miles sold 230K GBP...
Hi Rich thank you for your valuable video . How could I get the website as you shown on the video please ?
The website is just the UK AutoTrader page.
Great Channel. I felt like I was looking in the mirror because that’s what I do every day. If you were going to get a Pista, how much below the asking price would you offer?
Thank you David.
Well, currently as of today the 488 Pista is marketed at a wide range from £270k to £500k!
It all depends on the mileage and spec you are looking for. I would target your car using those criteria and then go in at circa 20-30% lower...they can only refuse and then you can up the offer.
Porsche exotic GT3 RS’s are really taking the piss… ergo, they will fall back to list. Dealers have been part of the problem and have contributed to the bubble. Back in the day Jaguar couldn’t sell the XJ220, McLaren F1 didn’t have wait list and Lancia could sell Integrale EVO’s for love nor money and would sit in dealers for months.. even years.
Many special cars mature over time but most GT3 RS cars are not in that category apart from cars such as the 997 4.0 manual.
My father wanted a Mercedes /8 back then. They laughed at him and told him he had to wait for a year upwards. Went and bought a Volvo instead. Later a Porsche Targa, BMW E34 etc. But never a Benz.
One thing to note, the reasons WHY they crashed. The recent surge in insurance (reported here in the fake media uk at 13%) reported in world news is up in the UK by 72% on average. No one can afford it or if they can - can't actually justify it.
I wanted an m8 this year, can afford it.... but the insurance is 24k. I can afford that too, but it doesnt justify owning one. Land rovers cant even get specialised insurance for their own customers, resulting in a massive crash in ranger prices everyone is crying about. Any car with substance or power is nearly 20k+ to insure.... so unless your MEGA rich or stupid, theres no point
I have no sympathy. Insurance companies are truely killing off the auto industry... they must have known it was coming when they were gouging poorer peoples pockets for bangers not worth £500 to £3k - hyping up the market to unaffordable prices for.
F*ck em - Il wait some more until further damage is done by the summer
I talk about the impact of insurance on the car market in the last video on this series.
Got to weep for the guy who is trying unsuccessfully to sell a £220k car for £440k and has to reduce it.... Also what about those guys who paid £50k over list for the new Range Rover before the *rse fell out of them. Spending £50k over for a depreciating item baffles me. Money becomes immaterial when you are at that level.
Even at the current listed prices the 992 GT3 RS is still way over list. One to watch for sure.
@@RichReviews_ Sorry, but as nice as they are the whole situation created by luxury brands like Porsche , Rolex etc where you have to purchase multiple items or have a popular youtube channel to have access to these items just leaves a bad taste in my mouth. Hopefully the demand crashes and these companies can start treating every paying customer the same.
I cannot see these markets changing…people always want what they can’t have and this builds demand which brands will capitalise on.
In the USA auction cost of the Porsche GT3 with the 3rd Pedal 6 Speed Manual Transmission 2016 sold for $850,000 the same car with PDK sells for $30,000 less than when New, which is $260,000 to $280,000.
Lotus Emira is illegal in the State of California... It can't pass Emissions.👨🏻🏎️🏁
When you say Manual GT3 i assume you mean either 991.2 or 992.1 Touring?
Amazed the Emira cannot meet California emissions!
@@RichReviews_ Yeah i heard about this last weekend on the Emira. It's funny, because all You Tubers came over to Test drive The Emira in Los Angeles Mountains, and did a Press Review on it. I was there this weekend with my 2022 Roush Mustang. It is always Great to drive. It's got the Proper 3rd Pedal Rev-Match Tremec
6 Speed Manual Transmission. It also, has the MagneRide Dameners, no matter how hard i Take a corner it won't lean or how hard i hit the Brakes it won't dip. So Much Grip, it only breaks loose on the gravel and 1st rainy day. It's also equipped with the same Intercooled Limited Slip Torsen Rear Differential 👩🏻🚀👍🏻🏎🏎🏁🏁🚩🚩🌲🌲⛰⛰
The Naturally Aspirated Ferraris will be fine wine over the years as the OEMs go forced induction and electric. Awesome content Rich!
Thanks James.
Agreed re v12s NA, I’m focussed on Aston Martin db9 gt or vanquish. Partly as I can’t afford the Ferrari I’d want and I’ve never aspired to one of their vehicles gtc4 apart, as an everyday but too expensive. What are your views on AMs na v12s?
I need to spend time in AMs to form an opinion. Hope to review a DB9 this year. Watch this space.
@@mygoogle1482 I bought a Ferrari GTC4 after having a couple of V12 Astons on extended loan to me. The Ferrari is far better, and much more useable car. Genuine 4 adult seats too.
The GT Porsches are still trading way over list, the flippers tried their luck at £400k for a 992 GT3RS, it clearly hasn't worked but they are still asking over list which is an insanity that many otherwise smart people seem to have fallen for. A GT3RS is still pitched above a Speciale, Pista or 296 which is utterly stupid. They still have a long way to fall. Equally why would anyone pay £200k for a 992 GT3? Porsche have made their money out of the brainless hype but now they need find a lot more stupid, deperate and wealthy people to keep this pyramid scheme going.
Well, the pyramid scheme will forever continue as long as the marque keeps manufacturing GT products. It will be the same story when the 992.2 GT3 and eventually new GT2RS comes out…
@@RichReviews_ none of this happened before the 918 Spyder and the whole thing was cooked up because they couldn’t sell them. All of the 997 GT cars depreciated at the time including the 4.0 RS of which they only sold 6 in rhd in the UK. Everyone thought it was way over priced at list of £140k when a 3.8 RS was under £100k. Porsche GT production numbers have soared in recent years quietly covered up by increasing hype but it will catch up with them eventually. Total con. Can’t believe so many people have fallen for it for so long.
Yes it’s extremely clever by Porsche, people ‘fall’ for it though because the cars are excellent. It comes down to having one new and not having one new and if you’ve got the money life is too short, especially if you want to spec it yourself.
@@RichReviews_ it’s extremely manipulative and excludes most of the people who would really appreciate and enjoy driving the cars. It has become all about money, totally fuelled by greed, the cars themselves don’t have much to do with it they could could be total crap but as long as they make money for the first owner (providing he doesn’t actually drive it anywhere) they will still be oversubscribed. Sucking up to dealers is all wrong it should be the other way around, buying multiple slow selling Porsches just to get on the dealer’s special list. Stories of suitcases of cash being offered to dealer principals. Lots of vested interests ensuring the cars are hyped to keep the gravy train rolling. There is nothing good about any of it. Not for actual driving enthusiasts anyway.
I think you'll find most/all the luxury retail sector is fuelled by greed.
The Porsche cars although reduced are I’d guess, still over original list price, less profit for those “invited “ to get a slot, it’s a scam, I would think if they really were Porsche enthusiasts, the number of cars for sale would be far less, it’s a scam between dealers and their “friends”… perhaps now , the real lovers of these cars can get into their dream car
Definitely the case that the 992 GT3 RS are still over list.
Superb 😂
Thank you…I think? 😅
I have a budget of around 70k and I'm leaning towards a Cayman gt4 or a Mclaren 570s ?
Not sure which way to go as I've seen alot of mixed reviews on the Mclaren ?
Will they drop in value much more 🤔
Great times if you have a few quid ?
Personally, I’d buy a 991.1 GT3 making sure it either had one of the later engines or a warranty covering the engine.
Watch my 991.1 GT3 review for more details.
@@RichReviews_ Actually I completely overlooked the GT3 991 3.8...... problem is at my budget could be hard to find one that's A : not been Trackdayed to death
B : Bomb proof G series engine
Undoubtedly 991 .1 gt3 is the more rewarding drive ?
I'll defo have a look at your GT3 buyers guide hopefully might help me in right direction 😀 Thanks for your response 👍
You’re welcome
70k. No question choose the Supercar. If you don’t believe that, drive both yourself and see. 570S is a great drive.
Can't imagine a McLaren going much lower than they are now to be honest. In the UK McLarens represent crazy good value compared to the rest of the world. There are some amazing specialists out there now making the prospect of owning one a lot less daunting. My 720 has been faultless in the 18 months I've had it 👌
Those cars were for investment purposes only no one was ever going to drive those cars because they can't put the miles on them Now we have a whole load of vehicles dropping into the owner driver market which is exactly where they should be in the first place. Should not be a long-term investment they should be there driven . You've got Subaru impressors going for 350,000 pounds for what is basically a $25,000 car only 5 years ago. Those sort of cars going to fool the hardest
100% agree...hyped cars will drop the most....We have a video coming out next which discusses exactly this!
Spot on: Though you may want to own something special, it should be driven as a car, not stored as a work of art. Let all appreciate seeing them on the street.
When I finally manage to bring a Speciale to the channel it WILL definitely get driven!
watch market same way
True
People finally starting to realise that Porsches are mass produced cars and not as special as they used to be! Nearly every car TH-camr got allocated a GT3 last year - can’t be that rare. That being said if I had the money lying around I would probably consider buying a 992 GT3RS and paying overs rather than “playing the game” at a Porsche dealer and waste more time and effectively more money! Or just wait another 18 months and grab one when they are going for under list 😂
I can assure you only a few Car TH-camrs were offered a 992 GT3 allocation and I certainly was not one of them.
@@RichReviews_ keep up the good content and you’ll get there 👌🏼
Hopefully people will stop buying 6 million pound Bugattis and 4 million koenigseggs kit cars
I doubt it...these cars are toys for collections.
Car flipping is nothing new however over the last 10yrs or so there as been a boom in private stock investors snapping up high end limited edition performance cars. The manufacturers especially Porsche no this and hence only invite or allow new car orders (gt3 rs ) for previous loyal buyers. The current market appears to have slowed hence some of these flipper cars have dropped in price but these are still way above list price.
Yes agree, investors using high value cars as a commodity is nothing new.
Not a ounce of compassion for greedy car traders inflating the market with " a special". Last year I noticed a Mercedes C63 AMG Final Edition (final production 22 car) for £99, 995 & another exact same model, same mileage, at £124,995. Indeed same car-both traders! Utter greed & opportunism.
Tough I know but you have to see it as business shenanigans. Where there is a profit to be made the wealthy will move money into that commodity whether it be houses, cars or watches.
I believe there are too many traders in the market: Some good, many not so. Only second to Estate Agents for being distrusted. As a "car enthusiast", it always saddens me when I see a ltd. addition car I'm interested in being presented by trade. I'd rather buy from the "enthusiast owner" to have a better, more accurate (truthfull-not driven purely by profit) undertsanding about history etc. Just me-You can always buy a warranty! But I do look forward to you driving that Speciale when you get it!👍
I will definitely drive the Speciale...similar to my current Spider.
In my opinion, real estate investment offers several advantages over purchasing a supercar. Firstly, real estate typically appreciates in value over time, providing a potential long-term return on investment. Secondly, rental income from a property can generate a steady stream of passive income. On the other hand, a supercar is a depreciating asset, meaning its value decreases over time. Additionally, maintenance and repair costs for a supercar can be substantial, and there is always the risk of theft or damage.
Supercars aren't meant to be an investment, though. It's only recent years where things have gone a bit silly!
You can’t drive a house and Supercars are supposed to be for enjoyment not investment. If you can buy one and retain most of its value then you’re doing well.
Or simply have affluent acquaintances who possess one and occasionally borrow theirs.
Indeed, it is true that certain items may still be considered overpriced in my personal opinion. However, it is important to recognize that the COVID-19 pandemic has accelerated certain trends that were already in motion.
In theory that’s great, however very unlikely in practise.
Why would anyone pay MORE for someones USED car ? No thanks
Many reasons. Short supply, cars that have ceased production, unique specs, limited edition cars etc etc. I’d happily pay more than list for a 458 speciale.
@@RichReviews_yes,thats my choice also
70k to 170k is cheap for a car???? most people cant even afford a honda on finance, sir you are in your own world and i am sure most youtubers watching this probably broke.
It’s all relative. My comments are with respect to where the prices were before the downturn.
You wish it was
Try watching the video
So basically reading what the autotrader says.......disappointing so called review- learned nothing,,,,
Did you even watch and Listen to the video?
Peoples attention spans seem crazy short nowadays!