Holden liquidation auction

[paule11]

http://www.pickles.com.au/cars/listi...&top=0&next=50

Be interesting to see how cheap some of these go for tomorrow apparently a dealership closed down and Holden didnt take back the cars and other dealerships didnt or couldnt finance them

[Penko]

Has the site crashed for anyone else, can't seem to get on to have a look.

[paule11]

I still can

[Rob's 76 Effy]

It was on ACA tonight, it was from a long time dealer (Melbourne) that has been selling holdens for the last 55yrs, it's the 1st time new cars have been placed in Auction, Holden would normally buy them back and resell to another dealer, but with the trouble there in they went straight to auction to be sold without reserve

[drew`SEVNT5]

Which dealer?

[Fairlane]

Monaro there look interesting, anyone know the story there?

[SVTVNM]

I heard them say it was Mollison's which if I am not mistaken is in Kyenton about an hour or so from Melbourne.

[Smoke Pursuit]

Lol at the monaro! - old stock. Look at the build dates on some of those cars, they even have new WAGONS from 06, no wonder they went broke!

Will be some cheap cars there no doubt specially with what holden have been advertising bonuses on tv etc... SV6 utes 30 kay, SS utes 33.. Should be able to go to that auction and buy SV6s for low 20s and SS's for high 20s!

[Spanrz]

I'd be a bit wary on that Monaro. "Missing Service History" and only 13k's.

Yeah right. The boss and his bum sniffers would have moonlighted in it. I rekon it's had a new dash.!

Find it really hard to believe that a Monaro wouldn't have been road tested over the years, for a genuine seller.

EDIT: maybe a lemon? Had to buy it back? Find it hard to believe they couldn't sell a V8 back halfway through last year. (rego)

[flappist]

This is very scary. I hope this is an isolated incident and not the beginning of a melt down or we may all find ourselves driving P76s and Valiants.......

[snappy]

Originally Posted by flappist

This is very scary. I hope this is an isolated incident and not the beginning of a melt down or we may all find ourselves driving P76s and Valiants.......

On the telly tonight they said this will probly be the first of many . Because holden won't buy them back and other dealers won't by them because an issue with finance

[Spanrz]

Originally Posted by flappist

find ourselves driving P76s and Valiants.......

Easy ...... Easy!

[Pedro]

Originally Posted by flappist

This is very scary. I hope this is an isolated incident and not the beginning of a melt down or we may all find ourselves driving P76s and Valiants.......

I think you'll find this won't be the only one. The GE withdrawal is bigger than most people seem to think.

But the trade-off is, if it comes to the worst, we'll be able to carry 45 gallon drums in the boot. LOL

[dreadly]

valliants are awesome ;) hemi's rock!

[mcnews]

Originally Posted by flappist

This is very scary. I hope this is an isolated incident and not the beginning of a melt down or we may all find ourselves driving P76s and Valiants.......

We should be so lucky :-)

[Falc'man]

If x amount of buyers will be buying these at auctions, that is x amount of buyers NOT buying from other dealers who are maybe on the verge of shutting shop. Domino effect, anyone?

How is Holden in "trouble" when the VE is no1 in sales, selling ~5000 per month?

[Hunter]

Originally Posted by Falc'man

How is Holden in "trouble" when the VE is no1 in sales, selling ~5000 per month?

While a sale is still a sale, you'd do well to find out where those '5000 per month' are going... I.e. mostly fleet and government purchases. For years now the Falcodores have been selling fewer and fewer to private buyers. The number one private vehicle sold is either the Mazda 3 or the Corolla, though it varies from month to month.

And while I said a sale is still a sale, the big problem with Falcodores mostly being sold to fleets and govt buyers is that every 3-4 years they ditch the cars and flood the used car market which in turn causes fewer people to want to buy one privately. Its a self-perpetuating cycle. Look at the Falcon - would you really want to buy one brand new given how fast they are proven, not just known, to depreciate? I sure wouldn't.

[SB076]

Originally Posted by Falc'man

If x amount of buyers will be buying these at auctions, that is x amount of buyers NOT buying from other dealers who are maybe on the verge of shutting shop. Domino effect, anyone?

How is Holden in "trouble" when the VE is no1 in sales, selling ~5000 per month?

I have a theory on this (although I hope I am wrong as I dont want to see either Ford or Holden in trouble) Driving past Fowles the other day and I couldnt beleive the amount of new VE Commodores they had, just seemed to go as far as the eye could see.

I think the problem Holden have is that they are over stocked, they havent been able to slow their build rate down and even though they are selling 5000 per month, its not enough to move their stock. Early next year Holden are going to take 5 weeks of additional time off to reduce production (and reduce stocks) Plus they are expected to make an annoucement concerning there second shift (I hope its positive but time will tell)

[GTP-814]

Flooding the market will cheap cars will have a huge flow on effect. If the auction delivers real discounts (which they should) then 'normal' buyers wont be buying cars from other dealers who will then suffer. Resale for second hand cars will also drop. The effect will ripple to ford as well as buyers will want to get a competitive rate

[maccamom]

Originally Posted by SB076

I have a theory on this (although I hope I am wrong as I dont want to see either Ford or Holden in trouble) Driving past Fowles the other day and I couldnt beleive the amount of new VE Commodores they had, just seemed to go as far as the eye could see.

I think the problem Holden have is that they are over stocked, they havent been able to slow their build rate down and even though they are selling 5000 per month, its not enough to move their stock. Early next year Holden are going to take 5 weeks of additional time off to reduce production (and reduce stocks) Plus they are expected to make an annoucement concerning there second shift (I hope its positive but time will tell)

I think that is exactly what the problem is, they may have worked this out too late judging by the auctions.

25 down days are scheduled for Holden in the first quarter of next year. Suprisingly Ford have, at this stage, told suppliers that no down days are forecast for the first quarter of next year.

Haven't heard anything about the second shift at Holden as yet.

[Stealth00]

Looks like it maybe Mollison Motors article here

http://smallbusiness.smh.com.au/mana...913202981.html

[wodahs]

wonder if any of them are any of the ones that holden are recalling coz the airbag problem ?? :hihi:

[Sprint347]

I want that CV8!

[Dave_au]

Originally Posted by SB076

I think the problem Holden have is that they are over stocked

Overstocked and reduced margins on every sale. VE SS is now 40,000 drive away, SV6 ute is $31,000 drive away - these are private sales so you can only imagine that fleets are able to do even better.

Exports are shot too - Pontiac G8 stock is around 283 days worth according to media reports.

[FOMOCO 1]

SB076 almost nailed it....
I have heard from a reliable source that Holden are allowing family & friends, friends of friends 30% off. As well as this they are signing up there own employees on 3 month leases (which registers a sale) and then selling the cars through Fowles and if they dont sell they just sit on fowles lot.
Think I am talking rubbish, drive past Fowles on the freeway and have a look more crummydores there then there are on the road.
There is no way Holden would be selling the volumes they have been without shifty business.

[Berger]

From what a acquaintance of mine who is in the industry has said, GM finance and GE finance pulling out of Australia has left a lot of dealers without finance of their floorplan, some of these being in the $10's of millions. So they have to liquidate their stock the best way possible to pay back the loans, unfortunate.

[Smoke Pursuit]

Originally Posted by BA Waggn

I'd be a bit wary on that Monaro. "Missing Service History" and only 13k's.

Yeah right. The boss and his bum sniffers would have moonlighted in it. I rekon it's had a new dash.!

Find it really hard to believe that a Monaro wouldn't have been road tested over the years, for a genuine seller.

EDIT: maybe a lemon? Had to buy it back? Find it hard to believe they couldn't sell a V8 back halfway through last year. (rego)

Why would it have a service history, if its a brand new car.. I would say they have been in storage, they didnt even have the plates put on them, dealers just register them to get the rebates, plates are uusally still in office till they are sold.

[ADSXR8]

Here are some prices straight off LS1.com.au

08 VE SSV auto ute $36k
08 Barina 2 door 1.6l $11k
07 VZ acclaim wagon $26k!! hahah
08 Colorado LX crew cab base model $29k
08 Astra CDTI wagon $23k
08 MY09 SSV 60th ann auto $42.5k
08 VE Calais MY08 3.8l $34.5k
07 SS auto commodore $35.5k
08 VE SS ute $31k
08 MY09 SSV 60th ann man $42k

Some good buys, but when considering you need to put rego and stamp duty ontop, not huge savings

[TZENU]

Have heard that the 30% employee family/friends discount for locally made GM products will be made available to the public? Is there any truth to that? Or is it already come into effect?

[Lynch'd]

Did anyone see what any of these went for?