Time to buy a Chevy?
About 10 years ago a neighbour of mine bought a Rover 75 just as the company disappeared from the UK.
This neighbour knew very little about cars, but they did know good value when they saw it. If I remember rightly, they picked up a high-spec nearly-new Rover 75 for about £7000 which was well-under 50% of the list price.
The reason the car was such good value was simple supply and demand economics. There was plenty of supply, but no demand. And the reason there was no demand was because everyone knew Rover was disappearing. They thought there wouldn’t be anywhere to service the cars or cover the warranty.
But my rather shrewd neighbour didn’t mind about that, she knew the car could be serviced pretty-much anywhere and she was willing to take the risk on the warranty given the price.
Fast forward 10 years and GM announces Chevrolet will no longer be sold in the UK (and Europe) beyond 2015, the reasons for which are well documented elsewhere.
Given the excitement about this move and the general public’s fear of such things, I suspect demand for Chevrolets will drop (even more).
As a result, and assuming simple economics holds true, prices will have to fall if Chevrolet wants to sell its stock in the UK.
So if you’re looking for a good value car and don’t care about the brand, now (or at least some time before 2016) could just be the right time to buy a Chevy.
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