Ferrari Life Forum banner

1 - 20 of 52 Posts

·
Registered
Joined
·
6,738 Posts
Andrew, saying that things are going south is very mild. Altho, I am not in the market for new cars, a more appropriate expression may be "as fast as a brick falling", and it has not hit the bottom yet. The whole auto industry outlook in Japan is needless to say, very gloomy. What's interesting is that the young generation (20s') are less interested in owning cars. Sign of times. w/ smiles Jimmy
 

·
Registered
Joined
·
3,874 Posts
What's interesting is that the young generation (20s') are less interested in owning cars. Sign of times. w/ smiles Jimmy
Whew, at least I don't fall into that category. It is very true though, none of my friends could give a rip about cars....it is strange.
 

·
Registered
Joined
·
3,627 Posts
Discussion Starter #6
--- What's interesting is that the young generation (20s') are less interested in owning cars. Sign of times.
I believe there are multi-fold reasons for this.

Cars are not as simple, enjoyable, and affordable as there one were
They are not as exciting because the electronics make them hard with which to work
Cars seems to be just transportation
The computer gadgets seem to have taken center stage
And with the $ young people are spending today coupled with their huge student loans the interest is not there.

I lived with cars as a kid. The Indy 500 was the big thing and then the Monte Carlo race was next. No excitement for this now.

I pulled engines apart and rebuilt them, etc. How many do this today.

How many kids are into scouting?

There are not even hobby shops to which kids once always went.

It's all different due to marketing and concepts.

I know there are plenty more reasons but these are the ones that stand out to me.

How many young people today will be able to afford Ferrari's, etc in the future?
 

·
Registered
Joined
·
247 Posts
It states there Jan 08 was 105 units.
Sounds about right. Remember, Ferrari cut the US's allocation of 430s from 1400 to 700, and that could account for a large portion of the drop. They are selling those cars elsewhere.

The economy is headed directly into a depression. If you look at a chart of gold prices, starting from March 1, 2003 to today, you see a straight line upwards. What that tells you is that this was coming big time from that date. Take a look at that same chart from 1970 to 1981, and you'll see essentially the same thing, but a little less steep.

In short, the dumb Texan and his friends have driven us over the cliff. Barak Obama isn't going to be able to fix this, maybe at best soften the landing.

Now is a very good time to be in cash, and housing rentals. Everything else is going to drop like a stone.

Art
 

·
Registered
Joined
·
3,627 Posts
Discussion Starter #9
So, Art, tell us how you really feel about that putz, W!

You are correct however.

I saw this economy drop starting in March, 2005, and made moves accordingly.

Have to be careful with everything now.
 

·
Registered
Joined
·
3,874 Posts
I believe there are multi-fold reasons for this.

Cars are not as simple, enjoyable, and affordable as there one were
They are not as exciting because the electronics make them hard with which to work
Cars seems to be just transportation
The computer gadgets seem to have taken center stage
And with the $ young people are spending today coupled with their huge student loans the interest is not there.

I lived with cars as a kid. The Indy 500 was the big thing and then the Monte Carlo race was next. No excitement for this now.

I pulled engines apart and rebuilt them, etc. How many do this today.

How many kids are into scouting?

There are not even hobby shops to which kids once always went.

It's all different due to marketing and concepts.

I know there are plenty more reasons but these are the ones that stand out to me.

How many young people today will be able to afford Ferrari's, etc in the future?
This is definitely true. I enjoyed my Firebird more than my Cobalt in the fact that I could modify it unfortunately it wasn't simpler to work on. If I had the opportunity to work on the Cobalt (lease) I would put an intake, full cat back with High-flow cat, lowering springs, different rims, and turbo it (only if I had the money in which I would buy either a different car or the Cobalt SS/TC) I love working on cars. More so the modification aspect. I enjoyed the exhaust project on the Firebird, but the spark plugs were absolute hell.

The electronic aspect is for the most part true. I was in the market for a '95 BMW 325is and I was going to put a cat-back, with lowering springs, and an intake, but if it were say an '08 328i or 335i there is no modification that I would dare doing with all the electronics.

As for the cars for transportation, this is very true. I use to drive my Firebird about 25 miles a day and my school was only 0.7 miles away. Now with the Cobalt I drive 50 miles a day and my school is 25 miles away. I do however have fun on the way to school because of the 5 speed:) A perfect example of cars just for transportation in my generation is a kid at my school that has a 2007 Pontiac G6 GT convertible with a tiptronic. He has had it for 2 years and I taught him how to use the tiptronic today.:yikes::yikes::yikes:

Computer gadgets have definitely taken center stage. A kid at my work was comparing his car to different peoples saying his was better (1990 Cadillac) because of his $700 sub woofer system and $800 in dash DVD:thumbsdown: I am much more interested in performance parts more so than stupid subs.

Student loans....I agree enough said....

As this style racing isn't popular I went to the Coca-Cola 600 at the Charlotte/Lowe's motor speedway in North Carolina every year. I've always loved racing and cars. I do like Formula 1 but never have the opportunity to watch it. Lemans was something I always loved which helped with my foreign car love.

I never have completely pulled apart an engine and unfortunately have never had the opportunity. I've worked on Civic and CRX engines, some with V-TECs and turbos in auto class during high school. I wasn't able to work to much on the Firebird engine, it isn't user friendly by any means.

To your last question, as long as school goes the way I would like it I should have money at some point in my life to purchase a Ferrari....but sadly for the most part of my lazy generation they will
not be able to.

BTW- Here is a non-spamming post!;)
 

·
Administrator
Joined
·
6,320 Posts
I like to think positive and see everything bouncing back in 12 months. It will take 15 years for housing in the bubble markets to get back to the '07 peaks. Silicon Valley needs to kick it into another gear and do what it does best: innovate. Spawn a new industry in the green/energy sector and create new jobs. For example, companies like this:

http://www.solyndra.com/
 

·
Registered
Joined
·
3,627 Posts
Discussion Starter #12
---To your last question, as long as school goes the way I would like it I should have money at some point in my life to purchase a Ferrari....but sadly for the most part of my lazy generation they will not be able to.---
Excellent point but the student loans have to be paid.

I have a nephew who started a position with a radiology group in the SE.

He has over $300K in student loans for med school etc.

The banks won't even entertain a R.E. loan to him until he pays down the loan more than 50%.
 

·
Registered
Joined
·
3,874 Posts
Excellent point but the student loans have to be paid.

I have a nephew who started a position with a radiology group in the SE.

He has over $300K in student loans for med school etc.

The banks won't even entertain a R.E. loan to him until he pays down the loan more than 50%.
I will be in the ~$250k+ range. I won't consider investing in a Ferrari until after I open my own practice and its up and running, also I will need to pay off all my debt.
 

·
Registered
Joined
·
6,404 Posts
On top of this many people who placed orders for the California are cancelling. Ferrari will not have a good year.

If they had focused on fewer, higher $$$ cars (Scuderia, 599 GTB) they might be in a position to weather it better.
Very good observation, Boxer. However, it is just unfortunate timing, isn't it? The Cali would have been a major sales hit if it had been released in 2007. It was a good strategy when they devised it in 2004 but unfortunately it was just too late.


Onno



Never pay again for live sex! | Hot girls doing naughty stuff for free! | Chat for free!
 

·
Administrator
Joined
·
15,140 Posts
Very good observation, Boxer. However, it is just unfortunate timing, isn't it? The Cali would have been a major sales hit if it had been released in 2007. It was a good strategy when they devised it in 2004 but unfortunately it was just too late.
Onno
From a economic/business standpoint, they should have launched it in 2004 and just be running out the model now. This would have given them 5 years of "high" volume they hoped to generate with it.

From a enthusiasts point of view, this never should have left the drawing board. It is an unFerrari - Ferrari.
 

·
Registered
Joined
·
3,627 Posts
Discussion Starter #17
---From a enthusiasts point of view, this never should have left the drawing board. It is an unFerrari - Ferrari.
And it's at too high a price point for what it represents.

I doubt many SL550 owners would jump from $115K to 225K.

This will be a tough sale for sure.
 

·
Registered
Joined
·
3,627 Posts
Discussion Starter #18
.---I will need to pay off all my debt.
Excellent point.

Cars will always be there. Finish your education, start your practice, and then concern yourself with buying assets.

Don't forget "SPEVIO" however.

You may be asked that in your oral and then you'll think of me!!!
 

·
Registered
Joined
·
1,028 Posts
On top of this many people who placed orders for the California are cancelling. Ferrari will not have a good year.

If they had focused on fewer, higher $$$ cars (Scuderia, 599 GTB) they might be in a position to weather it better.
Yes, indeed. I worried about my position on 'the list', but now feel very confident that I will be the first on my block with the California!
 

·
Registered
Joined
·
260 Posts
Yes, indeed. I worried about my position on 'the list', but now feel very confident that I will be the first on my block with the California!
Hope you are not getting scammed in buying yours above MSRP. A broker told me he can get me a California for under msrp.
 
1 - 20 of 52 Posts
Top