Drop In Exchange Rate Means Prices Sky Rocket If Importing.

[DRIFTT]

Just a warning to the people currently looking to import a car to be careful and always check the exchange rate daily as with the recent giant drop it means the FOB prices quoted by people even just today are $1,500 to $2,000 off the true exchange rate.

It is buyer beware as we all know but you would not want to commit to a car and then head off to the bank and go "what the F#@K happened to the exchange rate".

[Vik]

From that graph July would've been the ideal time to import im guessing.

But thats so alarming, AUD's worth is declining rapdily.

MRXTCZ

[CHO50N]

Hahahahah mate this totally f**ked me!!

Bought a R34 GTR around 2 weeks ago. Just from the day I purchased it till the day I payed for it I lost around 6K!

There is nothign that can be done except wear the cost. Hurts a bit though.

[AFTDRK]

pheww...

thank god i bought my 33 in July.

I still dont have it though!

Edited October 8, 2008 by AFTDRK

[Iron Chef]

Yes I have to go back and update my website again. Getting hard to keep up with it, it's dropping so fast. Not good at all.

The guys I really feel sorry for are the ones with cars coming across now, because between shipping costs (which get paid in US $) and customs duty/GST (calculated on the FOB in yen of the vehicle when it lands, not when it was bought), there are gonna be some nasty shocks.

Things are pretty bleak right now...I'm already having to face the prospect of going back to teaching, and I can't think of anything worse at the moment.

[Beer Baron]

yep AUD is fked right now. currently buying 65 yen. Importing a car right now would have to be close to shooting yourself in the foot. anyone looking for a car would be smart to either buy one here and take advantage of someone else who imported when the rate was good or just wait. but sadly it could be weeks or it could be a few years before the rate gets anything like normal again. it's a big blow for me. not least of which I have 2 trips to japan scheduled in the next 3 months.

it will be unbelievably quiet for exporters in japan for the the foreseable future.

I cannot remember the last time the dollar was this bad. must have been well over 5 years ago.

[CHO50N]

Will drive prices down in japan but probably not to the same extent.

Edited October 9, 2008 by CHO50N

[Iron Chef]

Not unless all other currencies are dropping against it too. For the record, we rank 14th in terms of number of vehicles exported from Japan, in other words, we're small fry these days.

[CHO50N]

Yeah mate i suppose your right, Will just have to wait and see how it pans out.

[pixel8r]

pheww...

thank god i bought my 33 in July.

I still dont have it though!

Yeah I too feel very lucky that I bought my stagea m35 in early august.

I still dont have mine but hopefully the wait will be over soon

[autoworx]

its not all doom and gloom . its mostly doom and gloom but theres a splash of non doom

i saw an evo 8 go for 850fob and r34 gtt man turbo go for 550fob on tuesday

at the current rate thats approx 13000$ and $8500 which is cheap

the downside is very few cars actually sell as japanese sellers are in the same boat going WTF is going on and would rather sit on the car than dump it for a crazy price . after all to them its 850,000 not 13000$

[4door_Sleeper]

The other side of the argument is that itsa great time for local manufacturers to sell. (perhaps not to Japan, but the US and NZ may find bargains by purchasing from Australia)

[R33GTRKid]

Yes I have to go back and update my website again. Getting hard to keep up with it, it's dropping so fast. Not good at all.

The guys I really feel sorry for are the ones with cars coming across now, because between shipping costs (which get paid in US $) and customs duty/GST (calculated on the FOB in yen of the vehicle when it lands, not when it was bought), there are gonna be some nasty shocks.

Things are pretty bleak right now...I'm already having to face the prospect of going back to teaching, and I can't think of anything worse at the moment.

wrong customs and GST is assessed at the date it leaves Japan NOT the date it arrives.... still hurts tho....

shipping is correct.

I am glad I bought mine on 28 June, paid on 30 June when it peaked, great timing... same car would cost me AUD$6 more now.....

i got burned on import duty and GST tho as my car missed the July boat and therefore was assessed on 28 August, the day it left Japan, could have been worse I guess

[Phobic]

its bullshit, im trying to bring parts over from japan for my new engine and al the cost of parts have jumped hugely.

[mxfly]

wrong customs and GST is assessed at the date it leaves Japan NOT the date it arrives.... still hurts tho....

shipping is correct.

I am glad I bought mine on 28 June, paid on 30 June when it peaked, great timing... same car would cost me AUD$6 more now.....

i got burned on import duty and GST tho as my car missed the July boat and therefore was assessed on 28 August, the day it left Japan, could have been worse I guess

That's right. The duty and gst are calculated on whatever it's dated on the bill of lading.

[Iron Chef]

Correct. Sorry guys, my brain is fried this week.

[wrxkilla]

The guys I really feel sorry for are the ones with cars coming across now, because between shipping costs (which get paid in US $) and customs duty/GST (calculated on the FOB in yen of the vehicle when it lands, not when it was bought), there are gonna be some nasty shocks.

yep massive bummer, mine has arrived in Sydney now and I'm gunna have this problem. what a rort.

:|

edit - good to know its calculated on when it leaves japan. I was sure it was when it landed?

cheers

Edited October 13, 2008 by wrxkilla

[Phobic]

good news the exchange rate is getting slightly better.

the australian dollar has gone from buying around 64.4 japanese yen on friday to about 72.5 japanese yen today, lets just hope this keeps going

[mxfly]

In the short term, it will remain very volatile. But hopefully can stabilise once all this debacle is over.

[Chris Rogers]

its bullshit, im trying to bring parts over from japan for my new engine and al the cost of parts have jumped hugely.

when you are Chef's boat its more frustrating. myself I have a 4 figure sum of parts sitting in tokyo waiting on me to ship them out. the cost to the end user literally doubled in the space of two weeks.

I'm waiting for the flow of work ( I do compliance Immobilsiers for 4 shops here in brissy) to stop - I'm good up to Dec at this stage before it all slows due to the exchange rate.