2005 Market Survey!

What's happening in the Triumph part's supply market I hear you ask? As we come to the end of our financial year its time to sit back and reflect on the blur that was a busy years trading in 2005. There has been a glareingly obvious seed change in what's selling, and who's selling it. As a major manufacturer and trade supplier (amongs't other things we manufacturer every piece of chrome [bumpers/overriders etc] for the Herald/Vitesse/Spitfire/GT6)we gleen a small but significant insight into how other traders are performing. It has become obvious over the past 5 years or so (but accelerated in the past year), that the larger traders are growing at the expence of the small to mid size traders. One of the largest traders in particular appears to be in a very healthy position if what their turnover with us is anything to go by. This is countered by the smaller traders struggling to compete on any sort of level, indeed we are losing established business's on a regular basis (Six Spares only this month).
What's selling? This is where we fair better than most because even though we stock one of the most comprehensive inventory's for the small Triumph's, our move 6 years ago into the performance and accessory market has kept us one step ahead. Whereas 10 years ago we (John Kipping then) made our money from panelwork and mechanical/servicing items, today that has shifted to the stuff people buy when their car is already restored and on the road.
To summarise, the market is shrinking rapidly (we all expected it, it was inevitable), the number of traders who have a significant proportion of that market is also shrinking (that was inevitable to), and the type of things we are selling is changing/has changed.

Test the project market!

Based on our last Blog we thought we might run a little test to see what the market for project/restoration cars is really like. To that end we have today uploaded a couple of likely candidates, a MK11 Vitesse convertible, and a 13/60 Estate. Both cars are potentially restorable, and pitched in at very resonable prices. Lets see what comes along in the way of customers, genuine enthusiasts willing to take on a winter rebuild, or Arthur Daley type characters only interested in furthering their ebay breaking spree? We will do our best to keep these Triumph's out of the latters hands, after all 100% genuine MK11 convertibles are getting very thin on the ground (Triumph only made 2,500 real ones). Even 13/60 Estates are getting rare now, when was the last time you saw one other than at a show? I came to work in a similar car this morning, great fun on the icy roads at 6AM! Estates handle so much better than Herald saloon's and convertibles. There,the secret's out a Herald that handles really well as standard!

Failed restorations/rebuilds!

It wasn't really until the advent of eBay that it was obvious how many failed/stalled restoration/rebuilds there were out there doing the rounds. I only have to spend the odd hour or two trawling the Triumph's for sale, and the Triumph spares for sale to recognise our stuff (parts manufactured by us or for us) going back into the market. I wonder what the percentage is of the parts we sell actually getting used in a finished project, or come to that actually ever getting bolted to a car? I would hazard a guess that at least 20% of what we (and other traders come to that) sell dosn't get used by the original buyer? Its a shame but it seems that the number of project cars that actually hit the street is dwindling and that the shark's out there buying these projects to break is actually increasing. Witness the regulars on the Triumph spares for sale punting out the same old oily diff's, engine's, gearbox's, and so on from someone's once pride and joy.A car they (the original failed rebuilder) might once have spent thousands on before walking away and letting the proffesional asset stripers take over. I know its the law of the market, and inevitable, but 25 years since the last Triumph was manufactured means that Triumphs on the margin are slipping away faster than they ever did. One things for certain it can't go on for much longer, the core stock of project Triumph's doing the rounds won't be around for much longer if they continue to get stripped at the alarming rate they are at the moment.

Six Spares RIP

Sad news one of the longest established 'small Triumph' parts suppliers Six Spares has ceased trading. I spoke with Bill yesterday and he confirmed that apart from some s/h parts that he may continue to autojumble Six Spares as was is no more. It was no secret in the trade that Bill had wanted to get out for some time (we had been discussing this on and off for 3 years or so), well now the decision has been made and bridges burn't and Bill is looking to pastures new. Six Spares had the tooling to make some of the unique seals on the Herald range, thankfully these have not been lost as Rimmers have agreed to continue production. A great shame never the less to see one of the older statesman of the Triumph suppliers dissappear. Does this mean that manky jumper Bill was to be seen in at every autojumble since the year dot is to be retired as well, we shall see!