Cars today are depreciating faster than ever. What's gone wrong & could Ferrari's F80 be next?

Summary

In this insightful discussion, the speaker critiques the current state of the new car market, particularly for performance vehicles. Highlighting issues like excessive technology, rising prices, and steep depreciation, they emphasize a growing disconnect between manufacturers and enthusiasts. While newer models often lose value due to tech overload, there's renewed interest in classic and resto-mod cars that offer a more engaging driving experience. The speaker suggests that, despite the challenges, opportunities still exist for buyers to find value in pre-owned performance cars, hinting at a potential revival of passion for simpler, driver-focused vehicles.

Takeaways

• 🚗 The performance car market is in turmoil, with manufacturers like Aston Martin reporting significant losses.
• 📈 New car prices have skyrocketed, with many performance cars breaching the £200,000 mark and beyond.
• ⚙️ Modern cars are overloaded with technology, which detracts from the driving experience and adds weight.
• 🔊 Enthusiasts crave the emotional connection and sound of traditional engines, which is diminishing in newer models.
• ⚡ Hybrid performance cars introduce complications that may affect their long-term value and enjoyment.
• 📉 High depreciation rates are prevalent, particularly for vehicles with advanced tech and electric components.
• 🚙 The Resto Mod market is gaining popularity as it blends classic aesthetics with modern conveniences.
• 🎯 Brands like Porsche are maintaining strong residual values by focusing on driver experience rather than excessive tech.
• 🌍 The global market for classic performance cars is likely to thrive as buyers seek vehicles that retain their value.
• 🛠️ Manufacturers need to realign their offerings with consumer desires for simplicity and emotional engagement in driving.

Q & A

What are the main issues facing the new car market today?

The new car market is experiencing significant challenges, including companies like Aston Martin reporting losses of a million pounds a day and declining sales across various brands.

Why does the speaker express concern specifically about performance cars?

The speaker is worried about the rising prices of performance cars and their steep depreciation rates, which significantly impact their long-term value and appeal.

What impact has technology had on modern performance cars?

Modern performance cars are increasingly burdened with unnecessary technology, including mandatory safety features that complicate the driving experience and detract from the emotional connection enthusiasts have with cars.

How does the speaker compare the Ferrari F80 and the Pagani Utopia?

The Ferrari F80, with its hybrid tech and electronic systems, is contrasted with the Pagani Utopia, which focuses on driver engagement, simplicity, and traditional performance elements like sound and responsiveness.

What concerns does the speaker raise about depreciation?

The speaker highlights the alarming depreciation rates of new cars, especially those with electric components, sharing personal experiences of significant value loss shortly after purchase.

What trends are emerging regarding classic cars and resto-mods?

There is a growing interest in classic cars and resto-mods, as enthusiasts seek vehicles that combine the aesthetic appeal of older models with the reliability and performance of modern technology.

What potential shift does the speaker anticipate in the automotive market?

The speaker suggests a possible shift back towards simpler, more engaging cars that prioritize the driving experience over unnecessary technology, which could create future buying opportunities.

What role does consumer demand play in the development of new cars?

The speaker notes that many new technologies are being added to cars without consumer demand, which is leading to frustration among buyers who find these features cumbersome and unnecessary.

How does the speaker feel about the emotional aspect of driving in today's market?

The speaker feels that the current trend towards high-tech features and regulatory requirements is diminishing the emotional joy and escapism that driving once provided.

What does the speaker recommend for potential buyers in the current market?

The speaker recommends considering older performance cars or models that have maintained their value, suggesting that these can provide a more enjoyable and less stressful ownership experience.