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Brexit - The £ - and Tesla

Discussion in 'The UK and Ireland' started by Lokolo, Jun 24, 2016.

  1. Lokolo

    Lokolo Member

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    The pound has fallen an incredible amount, the markets have fallen. I suspect this is gong to be very bad for Tesla sales. The cost of a Tesla will likely rise over the next 6-12 months.

    That Model3 I wanted may now be out of my price range.
     
  2. tonyj01

    tonyj01 Member

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    But when the market remembers the basic strength of the UK economy [even though there is uncertainty] the low levels this morning will bounce back.

    This may start soon - even through the day today.

    Look forward with optimism, you will bget your Model 3 in a few years, our country will be stronger without the shackles of the EU membership. Keep working, keep planning, keep saving for the future.



    Tony
     
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  3. JER

    JER Member

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    #3 JER, Jun 24, 2016
    Last edited: Jun 24, 2016
    Based on what I've learned fact checking both campaigns, I'm certain brexit was mis-sold and confident it will not benefit us significantly in any tangible way.

    I expect less favourable conditions importing anything here for the foreseeable future.
     
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  4. WannabeOwner

    WannabeOwner Member

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    I'm sure opinions are varied, and some/many strongly felt.

    I would rather not have the uncertainty (for 2 years for sure, quite possibly 4 years ...) which will play havoc with commerce. The disappointing thing, for me, was that I didn't hear anyone in Remain banging a drum of "These are the amazing things that will benefit us if we stay in Europe" - the only thing I remember is Jeremy Corbyn saying that workers-rights would be better protected. Everything else that I heard Remain (and people in lofty positions outside the UK) saying was "If the UK leaves it will be a disaster because REASON-X" - all Fear, Uncertainty and Doubt

    I see no sign of the sweeping emergency budget that Osborne touted would happen immediately, penalising the rich etc. etc.

    I agree with Tony that the currency market will recover - Sterling started the day at US$ 1.48875, fell to 1.32383 (-11%), recovered to 1.39408 (-6%) and is currently at 1.37062 (-8%)

    Lots of people (most even, maybe?) I talked to were choosing based on their personal, short term, circumstances. I'm of an age where short term poor economics may dramatically effect my retirement prospects, but I don't want Great Britain to be part of, and my children's children growing up in, a European federalist government and a culture changed dramatically and skewed by too large an influx of other nationalities.

    I think: it would of been better if we were the Second country to vote Leave, rather than the First :p but there is the real possibility that other countries will, now, voice their unhappiness about the EU in a similar fashion and, if that is the case, then i think it will ease our path - or the EU will change its tune and that will sway the majority of the sceptics

    Here's a thought, for the brave: Stuff the money that you were planning to spend on the Model-3 in the FTSE-100, and cash it in when it has recovered enough to pay for the then-price of the car ... bargains a-plenty to be had today
     
  5. lklundin

    lklundin Member

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    #5 lklundin, Jun 24, 2016
    Last edited: Jun 24, 2016
    You don't write in which part of Great Britain you live, but there is a real possibility that only England and Wales will leave the EU, causing the formation of a diminished Great Britain.

    PS. Historically Great Britain could very well be the country most responsible for the mixing of nationalities - and the fact that the most common dish in England is curry-based is certainly a consequence of government policy.
     
  6. WannabeOwner

    WannabeOwner Member

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    Indeed. There are some Scottish politicians who will use any reasonable excuse to have referendum-after-referendum until they get the result they wanted in the first place. Its up to them of course (and I believe it was a manifesto pledge, if the EU Referendum voted Leave - but my understanding is that it isn't as simple as Scottish parliament deciding they want a referendum). People I talk to in England can't see how the economics of Scotland being independent would allow them to be self sufficient - but I suppose the rest of Europe is looking at the UK today any asking themselves the same question?

    There are a number of ex-colonial country's nationals that are very well integrated into English society; they arrived with a knowledge of "warm beer and a love for cricket", to paraphrase John Major. The problem, as I see that it is perceived, is the formation of Ghetto's as a side effect of the massive numbers of immigrants, the lack of integration, the lack of adaption to the British culture,and thus its erosion.

    My understanding is that Germany would like to increase its population, by immigration, and I wish you all the best with that. The problems during the New Year celebrations were reported, over here, as being linked to immigrants; I'm sure there will always be "difficulties" along the way, but if in the future you can look back and say that you managed to integrate the newcomers well then I will be the first to congratulate you. Over here we don't have that optimism.
     
  7. ggnykk

    ggnykk Active Member

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    For the UK people that are on the fence with buying a Model S or X, they should order the Tesla today. I bet prices will be adjusted up very quickly.
     
  8. thegruf

    thegruf Member

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    the day the proud nation of Great Britain lost it's way and abrogated our responsibilities to the world.

    We are selfish fools. Personally I am ashamed of what we have done.
    In the process of this we have also played straight into the plans to those other unpleasant nationalistic forces in Scotland to break up the UK. Fools and fools.

    However the EU brought this on themselves.
    Their arrogance in believing they could create a superstate without the support of the peoples was always going to come apart at some point. To listen to various leaders of the EU saying today after the result we must learn from this and improve is utterly cringeworthy.
    You should have listened before, not put your heads in the bueaucratic sand.

    It is not beyond saving.

    I completely respect what the people of the UK have said, even though if in a room of 100 people only two people were to change their mind, the result would have been entirely different,

    The EU have a small window of opportunity to react positively, with humility, and make substantive changes as they necessarily will have to do in order to maintain grass roots support in many other member states.
    Do this before Article 50 is enacted (likely in October) and with sufficient changes announced, there is every reason for another referendum on the new proposals, to either commit us to the path of Leave or that the EU have listened sufficently and made a case for us to stay.
     
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  9. kort677

    kort677 Active Member

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    they voted against tyranny, marxism, failed liberal policies and are trying to restore their sovereignty.
     
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  10. Lokolo

    Lokolo Member

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    Although the £/$ will always be up and down I suspect there will be a long term downward trend for the foreseeable future. It will be interesting to see how Tesla reacts to this. Are they going to play the safe option and increases prices to offset the risk or are they going to keep prices pretty steady to get more sales? I suspect the former.

    I'd love to do this but working in the finance industry I have a lot of restrictions which makes it very difficult to make money <1 year period. Today I have lost 12% off on the markets at close from company share scheme.


    On top of this, with Cameron resigning, the likelihood of a general election will be greater. This will have an impact on Tesla in some way (could be a big or small, one there will be one for sure), by how the parties see green technologies. The EU have a great influence on trying to get western european countries into being more green.

    All of this happening with Model3 around the corner (although for us RHS drivers I guess around the corner is more of around the M25), it will be interesting.
     
  11. WannabeOwner

    WannabeOwner Member

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    UK cancelled our referendum on Maastricht (because someone else had already had one, and one was enough for a veto). I thought this was a shame at the time ... pity we, and others, did not do that, it might have sent a clearer message and prevented the EU megalomaniacs doing Maastricht-by-any-means

    Agree with all your points, although I don't share your foolishness feeling. I don't think the UK has the urge to be European, in the way that continental states do. I'd love to be a trading partner ... "Economic Community" ... but, for me, that's it.

    Yes, i agree. Did not surprise me that currency / FTSE bounced back after initial nosedive. But I can't begin to fathom why rest-of-world went down and stayed down ... its not something I know anything about though.

    Not heard that one, what's the thinking behind that? I thought we had 5-year fixed terms now? (although "no confidence" routes to an earlier election exist, and probably others that I haven't bothered to pay attention to)

    I hadn't considered that, but I haven't seen it either. Some time back Labour said they would fix prices of fuel if they won the next election (no idea how they intended to do that ... but ...) so Cameron knee-jerked "We'll have a discount now instead" and the net effect was that the Green Kickback, that energy companies were obliged to ringfence, was negotiated out, and all that incentive converted to cash-discount-now :mad:, EU didn't seem to wade-in?. Green Incentives in the UK seem way too modest to my mind - no idea of UK-alone will be better than EU-enforced, but if what we have had to-date is the best that EU can enforce "It aint enough" IMHO (I consider myself about as Eco as I can be; we have passive house [virtually no heat required in winter], solar PV and Thermal, lots of energy saving stuff; with hindsight I made a bad move when we decided to switch from TurboNutter sports cars to Eco - we wound up with 3x VW-stable BlueMotions - thus shafted by lying-cheaters - but we are rectifying that with BEV replacements now). Anyway, I would like government to do way more - I just can't see why inward investment on Eco doesn't pay for itself in a very short time period in reduced Petro-$ to Middle East and others. When the Crude Oil price fell like a stone I would have liked to see government cap the fuel price with a variable tax, and stuff all that revenue into Green Agenda. A Sovereign Wealth Fund on the profits from North Sea Oil/Fracking?, like Norway, would have been nice ... I'd best shut up now before you lot form a lynch mob!

    ... trouble is, whoever you vote for the Government always gets in ...
     
  12. cheshire cat

    cheshire cat Member

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    #12 cheshire cat, Jun 25, 2016
    Last edited: Jun 25, 2016
    they will need to get it before April @17 or face a five year "road tax" Good old Mr Osbourne--P.s. where is he? gone very quiet since yesterday --- may be down at his constituency ordering his Tesla before his tax takes effect :)
     
  13. cheshire cat

    cheshire cat Member

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    what ever the price isn't there a 10% euro import duty already? hope that's sorted before the model 3 arrives
     
  14. JAFO

    JAFO Member

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    Nothing will change, other than the UK legally able to deny mass immigration from eastern EU and their porous borders.

    It's a good buying opportunity for FTSE indexes an GBP... Should equalize soon enough.
     
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  15. lklundin

    lklundin Member

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    Considering the UK's significant trade deficit - mostly with the EU - your view may be just a bit too simplified.

    But it is understandable, given the way this referendum was debated.
     
  16. J1mbo

    J1mbo Member

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    Things will be a bit rough as the political instability is reflected on the markets.

    But then a new PM will be put in place, and just after that, Trump will become President. Everyone's attention will be on the US. USD will probably take a hit that point and GBP will recover - just in time for M3 pricing to be announced :)
     
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  17. nexsuperne101

    nexsuperne101 Member

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    There is talk of a general election when Cameron leaves. I think it is whether a vote of no confidence gets called, otherwise, we will be Conservative run until 2020.
    Hopefully one of the other parties will get in, although Labour needs to change its boss, and UKIP is perceived as way too racist to get my vote.
    I have friends from many places, which if a "no Blacks, no Irish (basically no one but White British born)" approach was ever to get in, it would destroy the UK. I think Trump would do the same to America. Create a massive resentful divide.

    As for Scotland, they now need to leave the UK before the EU will let them apply for membership. They can't just say "oh we weren't with England" and carry on in the EU. UK is out, and so are they.

    Interesting times ahead. We have to deal with the cards we have been dealt, and with a lot of hard work and a little bit of luck Britain will be just fine.
     
  18. WannabeOwner

    WannabeOwner Member

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    Sunday papers quoted Roosevelt: "the only thing to fear is fear itself" ... the papers [that I read] seem to be talking things up, lets hope that lasts; negative talk will become self-fulfilling
     
  19. nexsuperne101

    nexsuperne101 Member

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    I think a lot of this is state of mind. People can become set in their ways, and some would stick out a situation just because it is familiar, even though it is not good for them.
    It's a bit like the women that get beaten up and when you lump the ar5e beating her, you get told to leave him alone (normally with the comment from her that "he's a good man really"). WTF?!

    Fear of change was what the Remain party was playing on, problem was that others had far more faith in the UK to survive than they were given credit for.

    As for people saying that the UK was better in the EU. Well, if you call handing all your power over to someone else your people have never heard of as acceptable then fair enough, just don't moan when your vote counts for nothing, as the UK Government had it's hands tied.

    France , Denmark, Holland just to name a few will want their referendum ASAP.
    Brexit was the snowball that started the avalanche, from the top of a very big mountain.
     
  20. Canuck

    Canuck Active Member

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    Tell that to people who lost tons in stocks and currency. Sure it will likely rebound but not everyone has unlimited time -- especially those trying to enjoy their retirement on their savings and wanting to travel. I really feel for those folks.

    I just travelled from London to Paris to Brussels to Amsterdam and I'm writing this on the train to Dusseldorf. It's interesting taking the pulse of the people on this issue. In my opinion, the UK is going backwards when it comes to the future and if I was an entrepreneur in the UK I'd be pissed. The problem, as I see it, is that too many people look to the government, rather than to themselves, to solve their problems and the Leave campaign sold false promises to many of those people.
     

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