Quote from 1flyfisher:
U.S. ports are packed with cars that aren't selling.
And tons of other crap sitting on the docks.
Japan exports have tumbled.
We are not consuming like we used to.
It is a Global consumer strike.
Earnings will be hurting.
Quote from El Guapo:
Supply>Demand
A while ago, someone posted pics of the Jungles of cars sitting unsold/undelivered. But, if you go to a auto dealer and try to kick-em in the nuts, they give some b.s. story and their hands are tied.
Quote from El Guapo:
Supply>Demand
A while ago, someone posted pics of the Jungles of cars sitting unsold/undelivered. But, if you go to a auto dealer and try to kick-em in the nuts, they give some b.s. story and their hands are tied.
Quote from ByLoSellHi:
Port of Long Beach, the busiest port in the nation, has run out of space to store Asian and European import cars.
They are projecting auto sales of 8.8 million in the U.S., on an annualized pace this year, compared to 17.1 million in 2006.
This is an unprecedented drop in demand.
Globally, it's just as bad if not worse.
Elsewhere around the globe, Toyota has resorted to leasing cargo ships to store CARS ON THE SEA:
http://www.theaustralian.news.com.au/story/0,25197,25136849-12335,00.html