Have any of you noticed the dramatic increase in the price of steel this year ? Since Jan 08, its up around 60% with more increases planned before year end.
At this rate, our cars will be increasing in value just on the scrap value alone.
I have also seen the prices rising on various items that include steel parts and speaking with suppliers and manufacturers, they all have the same story. I wonder when Porsche will raise prices on parts (again) and blame steel prices ?? Makes you also wonder how new car prices will rise due to this factor ??
I heard about a scrap car business that came up for sale recently for $150,000 and they reckoned you could make that back in 6 months.
Steel futures anyone ?
At this rate, our cars will be increasing in value just on the scrap value alone.
I have also seen the prices rising on various items that include steel parts and speaking with suppliers and manufacturers, they all have the same story. I wonder when Porsche will raise prices on parts (again) and blame steel prices ?? Makes you also wonder how new car prices will rise due to this factor ??
I heard about a scrap car business that came up for sale recently for $150,000 and they reckoned you could make that back in 6 months.
Steel futures anyone ?
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