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Do you realize those cars were 100% insured? Not a single dollar lost on the cargo (cars).
Factories make cars, so based on their production rate is when those cars will be replaced. So someone will have to wait a few months to buy another car, so what!
Are you really that dim? Do you not get that it was a huge loss? Not only to the company but to those who have a car on that cargo ship. Did you? A few months? Damn you don't know **** if you think that. Some of the original orders were already 11 months out. It was a huge loss that everyone from here out is going to pay for. "Insurance"? Who do you think covers that huge loss?
Without going into a lot of detail here, if those cars were destroyed, there is a loss - the only question is to what entity. If an insurance company pays for the cargo it is a loss to the insurance company. I would expect some type of deductible to also be a loss. Value cannot be destroyed without some party incurring the loss.
Quote:
Originally Posted by ClaraC
Do you realize insurers are businesses, who will take a MASSIVE hit for this?
Not a single dollar lost? Ask the insurance companies.
I should have read the thread to the end before I replied. You both put it much nicer than I did.
Do you realize insurers are businesses, who will take a MASSIVE hit for this?
Not a single dollar lost? Ask the insurance companies.
Clara do you realize insurance companies are in business to cover losses? That is like arguing the grocery store loses so much money on spoiled food............ITS THEIR BUSINESS! Let's imagine they insure VW's shipping lines for 10 years and no major claims collecting substantial premiums along the way. So now they get one, sure they would have liked to avoid it but their lines are insured by others so again nobody is going out of business over this.
My response was a rebuttal to poster that was acting like Porsche and Bentley were going out of business because their cars can't be sold. VW the parent company of all car brands involved did 222 BILLION (euros) in 2020, with a profit of 8.33 billion. So using those numbers from 2 years ago, lets imagine the cars were uninsured so instead of making 8.33 billion they will only make 7.9 billion this year............see how it is truly a blip on their business model?
So yeah we only made 7,900 million this year due to the Atlantic BBQ. Almost 152 million a week in profit including the loss of all the cars at full MSRP. So the actual costs are likely 10-15% less than that number.
Clara do you realize insurance companies are in business to cover losses? That is like arguing the grocery store loses so much money on spoiled food............ITS THEIR BUSINESS! Let's imagine they insure VW's shipping lines for 10 years and no major claims collecting substantial premiums along the way. So now they get one, sure they would have liked to avoid it but their lines are insured by others so again nobody is going out of business over this.
My response was a rebuttal to poster that was acting like Porsche and Bentley were going out of business because their cars can't be sold. VW the parent company of all car brands involved did 222 BILLION (euros) in 2020, with a profit of 8.33 billion. So using those numbers from 2 years ago, lets imagine the cars were uninsured so instead of making 8.33 billion they will only make 7.9 billion this year............see how it is truly a blip on their business model?
So yeah we only made 7,900 million this year due to the Atlantic BBQ. Almost 152 million a week in profit including the loss of all the cars at full MSRP. So the actual costs are likely 10-15% less than that number.
It’s the smaller guys who will also be feeling it. The two dealers near me now have to postpone 17 sales that were already spoken for, but not paid for other then 10% deposit. One thing I don’t know is when is the next ship coming with more of their products? It’s not an actual loss, it’s a delayed payment for dealer. My friend only had one sale of the 17, so not a giant deal to him.
"LISBON, Portugal — A large cargo vessel carrying cars from Germany to the United States sank Tuesday in the mid-Atlantic, 13 days after a fire broke out on board, the ship’s manager and the Portuguese navy said.
The Felicity Ace sank about 400 kilometers (250 miles) off Portugal’s Azores Islands as it was being towed, MOL Ship Management in Singapore said in a statement. A salvage team had put out the fire."
It’s the smaller guys who will also be feeling it. The two dealers near me now have to postpone 17 sales that were already spoken for, but not paid for other then 10% deposit. One thing I don’t know is when is the next ship coming with more of their products? It’s not an actual loss, it’s a delayed payment for dealer. My friend only had one sale of the 17, so not a giant deal to him.
A much delayed payment. Dealers are only allocated so many spots in Porsche's order system, which they can either use use to place customer orders or to order a vehicle for dealer inventory. In reality, most spots are used for customer orders, and there are wait times of months before the car shows up on the dealer lot. The dealers are going to have to return those deposits and twiddle their thumbs until they are allocated more order slots from Porsche. Not to mention that someone who's paying >$100K for a new car isn't going to buy an unsold red roadster "off the the next ship" when they ordered a black targa and were expecting it next week, nor is Porsche going to find them a black one and throw in any unordered options for free.
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