Pendragon has been hit by recent new-model sales affecting secondhand.....but the fact remains that in any downturn, non-essential purchases are put-off.
-That applies to extensions, kitchens, and cars.
If you can keep your car a couple of years (longer), that will save money.
- If Bosses are trying to restrict wages, they cannot change their company car!

Any views on this business - perhaps from Car-Buyers who know them?

Directors holdings must look sick having topped up around 80p mark a good few months ago. The Lookers website is much better class than PDG's and is used as a sales platform. PDG will downsize considerably if not disappear completely.

Had a meeting with one of the corperate dealer guys, says that they have been told that all is ok. Found the 28m they needed by end of July. Dixons depots they they got when they went pop is costing though. The whole trade is tight at this time, alot to do with build times due to east europe taking all the build slots.

Hi Stretch ..........

Didn't quite understand the comment / relevance of build times, build slots .........

Please expand.

Thanks
Amar

What I don't understand is why showroom-prices haven't fallen - look at the Sp - that's 90% down in 12 months - yet cars are discounted maybe 10-20% . . . eh?

Sure, I know those Cars cost Dealers money to buy - but the same applies to shares - it WAS real then!

Secondhand cars are also woefully expensive, with some being little more than a discount on NEW, even after 3 years - which "should" halve the price, roughly. New cars have added "extras" so I'd have thought the whole lot would be on the slide - it just shows This Market hasn't really bitten, -yet!

Does anyone think these stocks are safe-enough, at these levels, or could we see some dire financials yet, sending the sp lower? . . . . . sub 5p anyone?
Oh dear....and many could have bought a decent car for their investment.

I don't hold, but have experienced much the same with Bio's - but there the Risk is obvious - and there is an "upside" if it works - several times the investment....
YET, Where was the up-side in Cars a year+ ago?

It was obvious
OIL would rise over time, that
SUV's were being targeted by Congestion-charges/envy/etc....and there was a
hint of Sub-Prime from the USA ( not that I understood it)

....I didn't touch Motor Stock...for I failed to see an up-side ( from those "then" levels).......BUT at these levels...?

. . . . . Which?
Anyone suggest a ranking for them?

PS I wonder what he meant also
- I know the new Ford Ka (2009?) is being made in Fiat's Polandski Works - Huh! - what does that say?
DYOR

Amardev - The big manufacturers don't make their goods & then go out & find customers. For the mass auto industry, the cars now being built will have been ordered months ago (Forward Orders) & will have been allocated a slot in the production schedule. This then means that they know for the foreseeable future what workforce, parts, transport etc they will need & also what funds they have going out & coming in.
In addition, they will also know how long it takes for a green, right hand drive Gti to go down the line (Build time), so that they can plan daily production.
For the big fleet users, such as BT, whole weeks of production are allocated to them so that their spec is all built in one hit.

Hangon - Ford Ka built in Poland? Can't see it's a real problem. I remember owning a Ford Fiesta which was built in Spain. Quality control is reasonably good now wherever they are built & it all comes down to cheap labour in the end! Norwich Union, Dyson etc the list is endless! The only car Co which I watch with any hope at the moment is Inchcape who market a range of brands, but that's all I do at present - Watch.

Fiesta are/were made in Spain, as the name suggests - the Ka (rerplacement?) is scheduled to be built IN the Fiat factory (in Poland). - that's what I found surprising....but these days much of the minor-kit is outsourced, so why not the production?
As you indicated, Harrycat, production is in batches and it's just possible the new Ka might be a JV, with Fiat building a similar model, using the same jigs, etc...with a different appearance - - - as a replacement for the Panda/Punto.

I read that there was significant over-production of cars.
This is even worse now that Asian economies are keen to build their own. China is already making the "Rovere 75" -using the jigs and tooling bought from Longbridge.

Have just bought a s/h Rover 600 - it's a "walnut-version" of the Honda Accord.
EDIT (12Nov08) - Arrgh -
-there I've said it!
Cars still failing to shift and I cannot see a return to "normal" - indeed I suspect we shall soon see MP's being whisked about in "smaller" limos.

Sell Pendragon at all costs...even Ford, Chrysler and GM are going into administration.

Another great call by Master RSI back in June post 2 .... NOT !

1.5p...where is it going? sub 1p very likely.

You need extra large cojones to buy this share @1.4p as the future is bleak but if you do decide to buy beuno suerta.

I dont reckon we shall hear from Master RSI again.

Give him a break.

I made money on his recommendations trading short-term and I'm sure he did as well.

He's probably on a beach somewhere!

As for PDG it appears the SM has decided they won't be around much longer along with loads of other companies.

Probably an exaggeration but I heard someone saying they reckon 75% of listed companies will go bust. Would think it would be nowhere near that but so far the credit crunch/recession has been worse than forecast so why not a depression?

Well either way they look doomed cant see them existing after Xmas.

Like a lot of co's.

Doomed imo wont be long now.

A glimmer of hope according to the FT today the Banks have given Pendragon more breathing space on interest due in late 2008.

They have a chance.

Pendragon has shelved the sale of software subsidiary Pinnacle it hoped would
raise cash to buy it time in negotiations with its banks - Sunday Times

Thanks for that Greystone the weather is wet and cloudy today whats it like your end ..?

Much the same mitzy :(

Wet and cloudy again.

What a surprise..lol.

On bid alert someone bought 60 mills shares.

anyone else in..?