Wednesday, May 14, 2008

Used car prices on the rise?

Now that the US Dollar is getting pummeled in the global markets (1 EURO = 1.55 USD at today's exchange rate), prices for European cars are on the rise. On a recent trip to a San Mateo, CA BMW dealer, we saw a brand new M3 coupe list for $72k and a new M3 convertible list for $82k! The devaluation of the dollar brings back memories of the 90's, when the Japanese Yen was crushing the US Dollar and prices of Japanese imports were going through the roof. Remember when the 1995 Toyota Supra had a staggering MSRP at $44k?

With the dollar declining, there are reports that Europeans and some Asians are scooping up used BMWs, Mercedes, and Porsches in the U.S. and shipping them back to Europe and Asia. Some of the cars that are being shipped back to Europe including models like the BMW Z8, Mercedes SL600, SL63, and Porsche 911. We're seeing that prices for used Porsche 911's are holding up very well, with some models even appreciating slightly. Perhaps this is good news for those that already own European cars, but bad news for those that are looking to buy new or used European cars.

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1 comment:

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