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Wow. What an immaculate example!

General Motors Corp will need to raise as much as US$15 billion in cash to shore up liquidity and bankruptcy is "not impossible" if the US car market continues to slump, Merrill Lynch has said. Other analysts have suggested GM, whose shares fell to a new 54-year low on Wednesday, needs to raise funds to ride out the downturn in the US car market through 2009. But Merrill's estimate of GM's financing needs is the highest yet. It also carried the most stark warning of the bankruptcy risk for the largest US carmaker. GM declined to comment directly on the Merrill Lynch report but it believes it has sufficient liquidity for 2008 despite lower volumes and could take more steps to cut costs if sales conditions worsen. "If conditions continue to deteriorate, we would consider other operating measures," GM spokeswoman Renee Rashid-Merem told Reuters. Merrill Lynch analyst John Murphy cut GM to "underperform" from "buy" and lowered his price target for the largest US carmaker to US$7 from US$28. Shares fell as much as 11 per cent to US$10.50 in Wednesday's trading in the New York Stock Exchange. The cost to insure GM's debt rose. Murphy also lowered his forecast for 2008 US industry-wide light vehicle sales for the third time this year and said the recent drastic decline in sales would likely to continue through 2009. Murphy forecasts light vehicle sales of 14.3 million units this year and 14 million units for next year. That compares with 16.15 million units in 2007 and is sharply lower than the current forecast of most major carmakers, including GM. "The recent extreme deterioration in volume and mix is driving much higher cash burn and eroding GM's cash position," Murphy said. "We believe US$15 billion is necessary because there is downside risk to our current estimates and a greater cushion is essential." Any capital GM raises has the potential to dilute equity if it's done through convertible offering or the issuance of additional equity, both possibilities analysts have raised. DEEPER DOWNTURN AHEAD? The deepening concerns about the sales outlook for GM come after a June sales report that showed industry-wide car sales dropping to a 15-year low. GM's own sales fell by a narrower-than-expected 8 per cent on an adjusted basis after the carmaker offered zero-per cent financing for six years. But Deutsche Bank analyst Rod Lache said GM could see a "payback" from its June sale in coming months, with its US market share dropping back below 20 per cent from 22 per cent in June as sales fall back. Several other Wall Street banks including Citigroup also downgraded carmakers and parts suppliers on Wednesday and lowered their outlook for US car sales this year and next. Citigroup analyst Itay Michaeli lowered his forecast for 2008 US vehicle sales to 14.5 million units from 15 million, saying plummeting resale values of trucks and SUVs was crimping demand already hurt by weak housing and tighter credit. Itay said a full recovery in the US car market would begin only in 2010 or 2011. Michaeli said GM has to weather the current downturn with considerably less backup liquidity than smaller rival Ford Motor Co, which tapped the leveraged loan market at its peak in late 2006 to raise US$23 billion. "While we do not believe GM is facing an immediate cash crunch, the urgency to shore up liquidity to navigate through a difficult 2008-2009 has risen significantly in recent months," Michaeli said. He cut GM's target price to US$14 from US$21. Industry tracking firm Global Insight cut its forecast for the annualized sales rate in July to 14.4 million units and cut its 2009 forecast to 14.2 million units in sales, citing the risk of higher average oil prices in the months ahead. Credit option contracts on the Chicago Board Options Exchange that would pay out if GM or Ford default before September 2012 ticked higher. The contracts, which remain lightly traded, point to a roughly 73-per cent default risk for GM and a 69-per cent risk for Ford over that period.

Number1.co.nz Many many choices, including: Bentley Azure Love the custom work on the bonnet! Phantom What a bike Etc etc etc What an amazing collection of cars. I wonder what the daily charges would be?

You could even start a wee collection... Donate for life changing wheel surgery. I'm sure there are plenty of members on here who would help out!

You are digging a deeper and deeper hole, continuing to humiliate yourself. Maybe it's time to leave this thread alone...

Far out! You would be mad not taking the $12,000 "offer". You could buy yourself a nice 328i for $6k and bank the other half. But, why list something when you don't intend to sell it? Is it like those boy racers that have a big FOR SALE sticker on their back window, but with no intention of selling (the real reason being to get hot biactchez to text them for a ride in their pimp machine).

Ka pai. Patience is a virtue.

I think it will be hard to gauge what you should pay for an e21 323i by discussing it in a thread such as this. I've found that when trying to figure out what something like this is worth, you need to take into account the following things 1. How much is it worth to you? Never pay more than that. 2. Only listen to the opinions of people who know what they are talking about. It will be difficult in this situation as I don't think there are too many people who "trade" in e21 BMW's. I think this car is worth $3k tops, but then again I am not qualified to give an opinion. 3. Disregard the opinion of someone who currently owns one, as the figure they give will likely be overinflated as they compare it to what they think theres is worth. Examples of this are when people ask on this site what an E30 / E36 is worth... 4. Don't be afraid to make an offer, no matter how low. Some people selling cars like this which seldom pop up, often need a dose of reality. A couple of people throwing realistic offers at them will hopefully help them come to their senses. Good luck!

Used car registrations crash - nzherald.co.nz Used car registrations - generally for imported used cars - plunged 30 per cent in June to 7049 from a year ago, Land Transport New Zealand said today. Used car sales were down 5.5 per cent on the 8156 sold in May. Sales have been reeling as a result of soaring petrol prices, restricted credit available and a generally weak economy. Used car sales have been heavily affected by a crisis in the finance company industry that has seen 23 company defaults in just over two years. Finance companies are a traditional source of credit for used car dealers. In contrast to the dire state of the used car market, new car registrations rose 5.5 per cent on June last year and were up 20 per cent on May to 6753. But the figures show a marked move toward smaller cars, away from larger gas guzzlers. Today's data comes as new figures from the US show auto sales plunged in June to a 15-year low as consumers reacted to a market still flooded with traditional US gas-guzzlers. Here, new commercial vehicle registrations during the month rose 46 per cent from May to 2823 and 11.6 per cent up from June 2007, despite the seemingly depressed economy and low business confidence. The top selling local make of new cars in June was Toyota with 1378, followed by Ford with 770 and Holden with 565. Sales of new Toyotas, which sells mainly less thirsty smaller and medium-sized cars, were up 28 per cent on last year while sales for Holden, which mainly sells larger vehicles, were down 23 per cent. In the US, only a month-end clearance sale helped General Motors retain its No 1 spot and steer clear of the wipeout many had feared. Record petrol prices and declining trade-in values for big trucks and SUVs hit truck sales hard while major automakers, including Toyota, struggled to keep up with demand for some popular smaller cars and hybrids. GM was the industry's main surprise after a sale featuring free financing for six years allowed the US automaker to avoid losing sales leadership in the month to Toyota. In a reversal of recent trends, Toyota trailed GM in June with a 21 per cent sales decline, reflecting a 31 per cent drop in sales of its trucks like the Tundra pickup. Equally damaging, sales of Toyota's hybrids including the market-leading Prius hybrid dropped 27 per cent as dealer inventory ran short of demand. Ford Motor Co sales were down 28 per cent, while Chrysler LLC sales fell 36 per cent, the weakest result in the industry. Now controlled by Cerberus Capital Management, the privately held automaker relied on light trucks for almost 70 per cent of its sales. By contrast, Honda, which boasts the most fuel-efficient vehicle line-up among major automakers, bucked the downturn and posted a 1 per cent sales gain. Sales for Nissan Motor Co dropped 18 per cent. The US sales rate for light vehicles dropped to 13.6 million units on an annualised and seasonally adjusted basis, down from 15.7 million a year earlier, according to tracking firm Autodata Corp. It was the weakest month since August 1993. Most analysts and major automakers now expect full-year US sales to end up near 15 million units, down from 16.15 million in 2007 because of the devastated US housing market, high gas prices and weak consumer confidence. George Magliano, an analyst with Global Insight, said he saw no sign that the US, largest market in the world for cars and light trucks, had hit bottom in June. He said that although overall sales had topped the most bearish expectations, "they are still disappointing and disconcerting". "The bottom line is the selling rate in June is weaker than May, and May was not a good month," he said. Ford's marketing chief Jim Farley pointed out that consumer fundamentals and confidence had deteriorated in the first half of the year and added, "The economy enters the second half of the year with a notable absence of momentum and a high degree of uncertainty." - NZPA

Well at $14k, shouldn't we be starting a thread about how your car is overpriced? The 328i quoted at the start of this thread looks like a comparative bargain!

+1 I used to work at a franchise dealership. We occassionaly gave plate frames to genuine enthusiasts who asked for them. Its free advertising after all!

Would have been a good buy for someone. Should be able to make quite a tidy profit if broken up and sold as parts!

Hold on. Weren't you bitching about people commenting about how your car was overpriced in your For Sale thread? I sense a tinge of hypocracy here!

Its a late model Mazda, so I think the chances of going seriously wrong in your first week are pretty small. Also, if something does go wrong, the dealer is liable to fix it. Shop around for a good warranty and don't rush into it!

Have you bought the Mazda yet? If not, you will find the dealer selling it to you would be more than happy to sell you a warranty. I'm also pretty confident that they would offer you a good deal on one as a warranty effectively removes their liability if anything goes wrong with the car. My biggest concern with the company you have listed is its paying ability. I would try and find out if they are underwritten by anyone. They state on their FAQ's, they are bonded. But the details and extent of such bond are not stated. If the company can't pay, your warranty is worthless. This happened to a mate of mine a few years back when the garage told him he needed $3k worth of transmission work he went to claim and then found out the warranty company had gone into liquidation.

Try searching through Google for results in the UK. There should be plenty of "buyers guides" available.

Trademe Link Is that even an E39, or has someone butchered the front of it??? Everything about that car is awful!

Are you sure your car is a 95? The car in your pic looks like a facelift, well it has facelift alloys and lights. They came out in 98

I thought it was a WOF requirement that the TV (if in the drivers line of vision) would turn off when the car is in motion?

Haha, and a 320i can??? You, my friend, are a muppet. Mind you, this thread has been entertaining!

Cars must be taking quite a while to sell in the current market!!!

Autotrader link Prices seem to be coming back a bit. Wasn't the last one on TM like $70k??? This looks like a very nice one, and owner is asking $39k. Loving those deep deep dish wheels!

What the??? Are they from a CRX or something?

Yes, I have a nice article comparing the E30 M3, Sierra Cosworth and MB 190E Evo from a recent UK classic car mag. But, keep waiting for a quiet day to scan it in (probably not anytime soon...).