The gap in the market. Every entrepreneur’s wildest dream. That one chance to get rich. Step in at the right time and then sell the relevant commodity with perfect timing with a lot of profit. Unfortunately, appearances can be deceiving in many of these cases. A car dealer from the US state of Illinois found out inexorably. This dealer lost nearly $4 million by jumping a little too enthusiastically into a trend that turned out to be short-lived.
We are writing 2020 (we prefer not to think too long about this year). Something stands out at the top end of the car market that year. Despite the world turning inward, the prices of luxury SUVs are going through the roof. Range Rovers, Uruses and G-Classes are suddenly $100,000 more than list price. And in terms of delivery of these cars, a lot is about to happen, it seems.
Eureka moment for the dealers
The American branch of Mercedes tells namely to its dealers that just about all V8 versions of their cars will no longer come to the United States due to parts shortages. This also includes the G-class, and the G 63 could become the must-have item of the moment because of these rumors. A dealer in Illinois takes his chance and gets 75 G 63s in his storage. He buys them in for a hefty $275,000 each.
Unfortunately for the dealer, the message from MB USA turns out to be premature. The V8 models keep coming, and to make matters worse, the luxury SUV market is collapsing again. “In 60 days, the price of this model dropped $50,000,” said Chris Benvie, head of marketing at the McGovern Auto Group. All in all, the dealer is going into the ship for almost 4 million dollars. ah…
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