Hi Mike Right now I'm also suggesting to arrange forward cover to my customers. In fact a fair few of them have paid the bulk of the purchase price upfront and by doing so locked in the exchange rate at the time of ordering their new glider. But back to your posting now! The point I'm trying to make is that the bulk of ASG 29s came into the country when the exchange rate was significantly lower than what it is at the moment. As a result today's customers enjoy a significant cost reduction despite of the inflation related increase in the ex-works price. Mike, I regard this as something positive but you are quite within your rights to point out that we have seen even better exchange rates in the past. Kind regards to all Bernard
_____ From: aus-soaring-boun...@lists.internode.on.net [mailto:aus-soaring-boun...@lists.internode.on.net] On Behalf Of Mike Borgelt Sent: Tuesday, 3 September 2013 10:48 AM To: Discussion of issues relating to Soaring in Australia. Subject: Re: [Aus-soaring] Hello I see, pointing out reality is "painting everything in a negative light". Longer term the Aussie dollar has been around 0.60 Euro. Currently gliders are about 7.5% cheaper than when this was the case. During the GFC it went down to under 0.50 for a while, as low as 0.49 or 0.48 I think. It then recovered to 0.60 or slightly higher by late 2009 and continued to rise to over 0.80 and in the last year has slipped to where it is now. If you bought 100,000 Euro at 0.8 it cost A$125,000 If you do that today the same number of Euro will cost you A$155,000 and change, a 24% increase. Hardly all that minor. The exchange rate is back to where it was in February 2010. The peak was August 2012 at a rate of 0.85 and a bit. A 31% decline since then. See here: http://www.oanda.com/currency/historical-rates/ you can set up the Euro-AUD rate and look back 5 years. The trajectory right now isn't looking good. If you are planning on buying a glider it would be a good idea to buy the Euro now or get forward cover. Mike At 10:22 AM 3/09/2013, you wrote: Hi Mike Why don't you look at the bright side? The exchange rate is still so much better than it was only three or so years ago!!! Even allowing for the recent slight decline of our currency against the Euro new gliders are now significantly cheaper for Australian customers. In fact they are about 30% cheaper (or should I say less costly) than a few years back. There is hardly any need to paint everything in a negative light. Kind regards Bernard _____ From: aus-soaring-boun...@lists.internode.on.net [ <mailto:aus-soaring-boun...@lists.internode.on.net> mailto:aus-soaring-boun...@lists.internode.on.net] On Behalf Of Mike Borgelt Sent: Tuesday, 3 September 2013 9:15 AM To: Discussion of issues relating to Soaring in Australia. Subject: Re: [Aus-soaring] Hello 0.645 Euro is all it buys right now ( Westpac this morning) Not so strong after all as it has been over 0.80 not so long ago. Mike At 09:37 AM 3/09/2013, you wrote: Good morning all Please celebrate a milestone with us! Last night we received the thirtieth order for an ASG 29. May the Australian Dollar remain as strong as this for a long time to come! Kind regards from Adelaide Bernard _______________________________________________ Aus-soaring mailing list Aus-soaring@lists.internode.on.net To check or change subscription details, visit: http://lists.internode.on.net/mailman/listinfo/aus-soaring Borgelt Instruments - design & manufacture of quality soaring instrumentation since 1978 www.borgeltinstruments.com <http://www.borgeltinstruments.com/> tel: 07 4635 5784 overseas: int+61-7-4635 5784 mob: 042835 5784 : int+61-42835 5784 P O Box 4607, Toowoomba East, QLD 4350, Australia _______________________________________________ Aus-soaring mailing list Aus-soaring@lists.internode.on.net To check or change subscription details, visit: http://lists.internode.on.net/mailman/listinfo/aus-soaring Borgelt Instruments - design & manufacture of quality soaring instrumentation since 1978 www.borgeltinstruments.com <http://www.borgeltinstruments.com/> tel: 07 4635 5784 overseas: int+61-7-4635 5784 mob: 042835 5784 : int+61-42835 5784 P O Box 4607, Toowoomba East, QLD 4350, Australia
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