What will the corona virus do to the car market? (used/car parts)

Discussion in 'Mustang Chit Chat' started by Drunkenturtles, Apr 6, 2020.

  1. Norm Peterson

    Norm Peterson corner barstool sitter

    Gas prices are cheap right now partly because Russia and Saudi Arabia aren't on the same page over production cuts.

    New car shopping-wise, I'm not much affected. Not looking, and wouldn't be even if we were still in more normal times. But I do have a major drivetrain project in mind for the '08 that I hope won't involve availability snags.

  2. nawagner

    nawagner forum member

    I filled up at $1.17 yesterday. I did have a 5 cent discount though.
  3. 86GT351

    86GT351 forum member

    South Florida is dropping price. Should be the lowest as the refineries are right here in Ft Lauderdale. Oh Yeah. The Gov't has to get there percentage.
  4. Bingo

    Bingo Because street car S197 Team Member

    Low oil prices are not good for domestic producers, but I suspect the lack of demand to be fairly short-term. My question is what will the lag time be between everyone back to work and new car production? I could see a scenario for a couple months where a lot of purchases are made once things resume that will deplete supply. But maybe no one has the money or the desire to buy new cars after being out of work for an extended period of time. Lots of variables. Could parts become more scarce/more expensive as people are more inclined to fix vs. buy a new car and factories scale back parts production?
    Pentalab likes this.
  5. 13v6

    13v6 Junior Member

    Watch for a pop in new car prices. The manufactures are shutting down. Even though there's a surplus supply of vehicles, if people start buying before they get the factories cranked up (including all the 3rd party vendors), prices could rise. If that doesn't happen, they should stay low.
  6. JJDAG

    JJDAG forum member

    A lot of you guys have very low gas prices, here in upstate NY premium is 2.73 regular 2.23 which is way down but still shows how much Emperor Cuomo takes for his cut of every gallon.
  7. Macman45

    Macman45 Resident Geriatric

    He's gotta fund that nipple jewelry somehow
    JJDAG likes this.
  8. MrBhp

    MrBhp Member

    I looked at a fully optioned 2017 gt350 yesterday. The thing has 3500 miles on it and looked absolutely new. The guy's in a bind, is asking 44k for it. I'm working with my bank right now to see what I can do.
    JJDAG likes this.
  9. Kyle2115

    Kyle2115 Junior Member

    I've been looking for slightly used 2019 base GT autos.
    I REALLY need to get to 60 in around 4 seconds......stock.
    They're hovering around $30k.
    While looking at one online, Ford had an ad for new 2020's. 0% for 84 months and no payments for 4 months, I believe it said, through Ford Motor Credit.
    Also another deal for 3 skipped payments, and they pay the next 3?
    Maybe that was in lou of the other deal.
    Can't remember.....
    But it's a pretty sweet deal.
    Mute point since I'm off work till the powers that be decide we're not going to put up with this bullshit any more.
    I know I've just about had enough of my rights trampled on for now.
    RavenGT likes this.
  10. FrankieD

    FrankieD Junior Member

    In these times CASH is King I have an 09 GT Convert it will be cheep enough for some High School or Collage kid can afford
    Will be looking at Camaro or Vette I figure I can go faster for the price to up grade the GT.
  11. OX1

    OX1 forum member

    Might be able to get a new 2020 for close to that............


    Kyle2115 likes this.
  12. 86GT351

    86GT351 forum member

    We have been surprisingly busy. We have been averaging 50-60 cars per day still. Good for us. I just can't grasp how an oil change becomes essential to some customers. LOL!
  13. WNYGT5-0

    WNYGT5-0 Member

    Need to go fill the tank I guess... 5FA84BE7-28F0-4B53-BBEA-23571EC75FCB.png
  14. JJ427R

    JJ427R forum member

    I saw today in news a couple stations here are at .78 and .84 per gallon. Hope it stays down there...
  15. Bingo

    Bingo Because street car S197 Team Member

    No...you don't.
    MrBhp likes this.
  16. JJ427R

    JJ427R forum member

    Yes I do, have you looked at gas company profits??? I also hope it drives overpriced hotel room prices back down again. Do I want it to hurt the economy, no, but prices of some of this stuff has gotten out of control, maybe this will bring it back down to reality.

    Let me ask you what do you think the price of gasoline should be? Should a basic hotel room really cost $125 a night? I used to work with an older gentleman who owned stock in one of the oil companies, he was the only one I knew who was not bitching when gas was over $4 a gallon and he was actually happy about it.
  17. Juice

    Juice forum member

    We all wish for gas to stay low, however, it wont.
    I remember an "internet myth" floating around the days of $5/gallon: stop buying gas for a day, and this meant everyone, and it will drive the price down. Guess it may have actually worked.

    Now back to reality, sorry. I think gas prices will return higher than before the world shut down. One of the things the virus has no effect on is Corporate GREED. As soon as demand returns, prices will be driven to what the market will tolerate. Big oil will make the best effort to recover lost revenue as quickly as possible.
  18. Sactown

    Sactown Sactown

    I was commuting in my F150 for years, it would cost me 70-80 a week just to drive back and forth to work
  19. Sactown

    Sactown Sactown

    Funny you mention, I bought XOM resently at 36 a share, it was over 80 before the locked went into place, it is back up over 40 already, IOM it will climb right back up when oil hits 50 a barrel again, which it will.
    MrBhp likes this.
  20. JJ427R

    JJ427R forum member

    That was similar for me in my E250 van, 52 mile commute one way was almost $100 a week.
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