If so, I wouldn't wait too long. The NZ dollar has fallen from 88c to 74c in a matter of months and if this continues, you have to ask yourself if it's really worth it. The BNZ predicts 70c by the end of the year - somehow I think they are going to be way off. It's dropped 4c in the last couple of weeks, so just another 4c drop over the next 11 months seems too conservative. I guess time will tell.
xs1100,
Jan 24, 3:44am
theres always all the American cars in japan that have been appearing also
smac,
Jan 24, 3:49am
tgray, if you can land me a 240Z or 260Z here for under NZD$10k we can talk, don't care what the dollar is doing.
tgray,
Jun 13, 4:33pm
69c now and expected to fall further. So much for the so - called experts in their predictions. Tell you what, here's my prediction: 65c by years end.
budgel,
Jun 13, 5:27pm
Do you take out forward exchange for your overseas buying?
lookoutas,
Jun 13, 5:56pm
Increases the value of ones already here.
les6,
Jun 13, 6:03pm
won`t be any permits left anyway?was told 30 on thursday?
tulip17,
Jun 13, 8:57pm
Maybe that guy in Hamilton with all the yank stock will not be a laughing joke after all ?
intrade,
Jun 14, 12:38am
yea i just looked it droped 8 cent or so against all currncy lowest ever that i have seen it against some of the euro currency. I do wonder if the supermarket will now put food prices up again. we have to pay more when they can sell it for loads ofshore and we have to pay more when there proffits ofshore go down. other countrys have street riots ages ago with a corrupt gungster system like this.
tulip17,
Jun 14, 12:58am
What about a self sufficient New Zealand - stop chasing carrots ?
I'm amazed with the amount of late model stangs and camaro's that their prices have not dropped a little or have they ? Car yard in the Tron has had at 52 K stang sitting there for that long I have for gotten when first seen it listed - feels like years. Does not appear to be an overwhelming demand but numbers grow but price does not come down - what gives as looks to break an economic rule ?
tgray,
Jun 14, 1:24am
I had for previous purchases, but do not have any hedged funds at present. At current exchange rate it simply doesn't work anymore.
tgray,
Jun 14, 1:26am
That figure is bull mate. Just got a reply back from the LTSA and there is just over 100 permits left for 2015 and they anticipate they will run out towards the end of July. whoever told you 30 permits were left is full of it.
les6,
Jun 14, 5:09am
was an aa compliancer? i don`t care,i got my one!
tgray,
Jun 14, 1:50pm
Contact me and I will send you the email I got from LTSA last week.
lookoutas,
Jun 14, 10:13pm
You're not doing the sums right there tulip.
When I brought a US12K car in back in 2007 with the dollar at 83c, that car cost was NZ$14457, and after freight + GST on the total, it came off the wharf costing NZ$19397. That same exercise at 70c would cost NZ$23000. That means the price has to go up, not down.
Interesting fact - I can't find an equal car over there now for less than US25K, which would make it worth/cost 44K.
doglover2003,
Jun 15, 6:45am
You not comprehending. Cars in question been here for year or two when dollar was high - they making plenty on them - no one buying, demand is not there but price does not get lowered - supply and demand rule not working. They rather just have them sitting on yard for a year at same price.
tgray,
Jun 15, 3:33pm
I brought 7 late model Camaro's and 3 late model Corvette's in, in the last 4 years. The longest it took me to sell one, was 8 months and the shortest, one day. I take your point re prices not falling. eg/ 2 years ago, I sold a 2010 Camaro (rare special edition) for $54,000. The dollar was over 80c at the time. Today I see on Trademe, regular Camaro's still asking the same money. Now of course, with the Dollar at under 70c, the maths simply doesn't add up to bring more in. By the way, some of these Camaro's have been on Trademe for years - literally. Dealers selling these type of cars are usually patient and don't need the money immediately. Happy to wait for the right person.
doglover2003,
Jun 15, 5:26pm
Cheers patient alright - no doubt still a cost when the 40k that is sitting for a year could be invested elsewhere - shows how much they are actually making to be able to afford to do so.
tgray,
Jun 15, 10:55pm
Yes. Luckily the last few I brought in, where bought using USA hedged funds when the dollar was a lot more than it is today. It's not an easy decision to lock away a big chunk of money in an account that gets no interest and of course, being exposed to the risk the dollar may move the other way. As an importer, the decision now, is do I 'lock in' an exchange rate of 69c, that is the worst it has been in quite a few years on the expectation it will fall further, or simply put the funds in a NZ interest being bank account and ride it out? Well, with the reserve bank hinting at more rate cuts this year and the USA hinting at rate increases, it is every expectation the NZ dollar will continue to slide in the medium term at least. Bear in mind, it was .88c 10 months ago and there is plenty of downward pressure.
tgray,
Jun 15, 10:58pm
The interest on $40k at 4% for a year is only $1600. Dealers bringing in $40,000 cars want to make more than that and will usually sell in a shorter time frame than 12 months.
doglover2003,
Jun 9, 6:28am
Your post has made the picture clearer why dealer profit margins are so. Added tricky with the US printing more greenbacks at the drop of a hat. Cheers
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