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CCC last won the day on October 4 2019

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About CCC

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    Independent dealer
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    Coper cariage

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  1. The wage bit is a smart bit of business by Aldi/Lidl. They have a much lower staffing level so they knew that increasing salaries in the sector would be a big impact onto their competitors who’ve been forced to pay closer to Aldi/Lidl levels. They get their pound of flesh from staff to with higher productivity than their competitors.
  2. Been doing lots of cycling, roads are incredibly quite especially the backroads, pheasants now roam without risk. They won’t know what’s hit them when traffic suddenly returns.
  3. Happy to be corrected but looking at at the PLC accounts shows 1% net profit before tax and most of their current assets are inventory, which will have the ability to lose value quite quickly at present I’d suggest. I need to watch the video but to me it didn’t look a healthy picture before Covid, let alone after. Turnover is vanity, profit is sanity.
  4. Probably the worst timing in the world to launch a car sales business.
  5. I think the point was that we will pay as a society in some way as money doesn’t get conjured up from nowhere without implications. lets hope it’s higher taxes, not hyper inflation.
  6. My dad helps with a local food bank. A lot of checks go in before people receive good to prevent fraud. I had a similar view beforehand but from talking to him 50% are genuine long term cases, eg disabled having to pay rent, 50% short term, eg people who’ve over stretched themselves on finance and then lose job, can’t work due to illness etc. As has been said in other threads, I think finance has been an elelphant in the room for a long time (as had been flagged by the BofE) and will not longer be so widely available.
  7. From what I see the problem many of the large companies have is that they’ve taken on debt and returned operating cash to shareholders and management. So share prices driven up artificially whilst putting the business in a vulnerable position that only worked whilst the carousel kept turning at speed. Not a situation an owner/operator would let happen. I’ve learnt over a variety of experiences in recent months that accounting tricks and deception is far too widespread to ever invest in the stock market again, unless as a tracker. Fortunately my losses are minor compared to many.
  8. Rumour has it WBAC is now WDBAC and has stopped purchases, anyone else heard that?
  9. The biggest fallout will ultimately be the number of personal and business bankruptcies unfortunately. Having lives through the impacts of a world war our parents and grandparents lived cautiously, unfortunately our generation less so. However, the idea of losing approx. 10% of the over 80’s is a scary prospect and right now dwarfs the long term impacts. Especially if you are in the Care Home business. On the upside, there should be a good supply of Honda Jazz’s....
  10. Basically if you’re over 65, smoke or have any pre-existing condition you will be left to die when the peak hits. the issue today isn’t whether you will have a business, it’s whether you will have a life, family or customers. And car finance applications down 70% with one leading provider.
  11. Sorry, it was a scarcastic comment aimed at the fact that Zoopla is AT, not a retailer Cazoo business model is far more complicated than Zoopla.
  12. Comment from an Italian friend (lives in London, family in Italy) when I mentioned it was mainly an issue for the elderly: “no, not just old, unless you consider 45 yo people as old? There’s hundreds currently connected to a ventilator, across all age ranges, including 38 children”
  13. I’m pondering how Zoopla make money, they don’t actually sell houses do they? Cazoo is actually selling cars so his previous sucesss running an online showroom that makes money from advertising isn’t so relevant here. I wish Mr Chesterman well, I think he’s doing a great job of hoodwinking investors out of their money.
  14. The saying is “when the going gets tough, the tough get going”. So it’s not going to doom and gloom for everyone but IF there is a full blown recession of the back of the crisis then people will need to work a bit harder to make business a success. In my view a recession is a good thing, it gets rid of weaker businesses and lets the strong survive and thrive. It usual results in credit availability being tightened and that should stop the stupidity of buying prices which have hit margins for many. For example, It may create buying opportunities as cash strapped punters are forced to sell cars to pay mortgages (And if credit reduction chokes auction demand wbac values will drop). A recession is part of the natural cycle of business, just as Corona is just part of the nature’s cycle too. I’m not “worried” about what’s going to happen but I do think you have to be prepared for it. Such events are those that bring reality back to people, and cause changes in behaviour. Having lived through World Wars our grand parents were much more cautious and careful than later generations. This is not that, but it is likely to be a reminder of planning for tomorrow as well as living for today. Curious as to what business this is? That’s a serious hit in what is 3 weeks? I hope you are able to trade through it and survive.
  15. This is why people are putting off buying cars, not fear of being ill, fear or losing their job. Tourism down, trade interrupted, etc. As I said before we’re overdue a recession and I suspect this will be the trigger. Big, unnecessary purchases are the first thing to go. I suspect the cheapy market where people just need replacement transport will be ok, and may increase as people cut costs, but just replacing a car when it’s three years old because you fancy a change becomes an unnecessary luxury. The rule of putting money aside in the good times to see you through the bad times (and to take advantage of the buying opportunities it creates too) applies right now.