Unsold Cars Around the World

[crgarcia]

Quote from Debaser82:

Some nice pictures here.

http://www.ritholtz.com/blog/2009/02/unsold-cars-around-the-world/

Only those Ford trucks may be delivered easily (only two lanes, each facing a "street").

Others are so cluttered, it would be difficult to get out a hand picked one.
(i.e. "I want the red coupe with tan seats")

 

[dealmaker]

$1100 car your shipping and customs will be more than that and for that price you will get a clunker especially if you end up buying in the states that snow or have high heat ( e.g. Nevada) and to refurbish that car in your home country will be expensive ( parts).

 

[ByLoSellHi]

The Port at Long Beach, Cali, has run out of room to store cars.

There was an articles in Bloomberg today stating Toyota has hired cargo ships to store new cars offshore.

 

[wilburbear]

Now Bloomberg says Chrysler and GM will also have a price war to reduce inventories.

Do not buy a car! You'll get it cheaper in 6 months.

 

[Scataphagos]

Quote from ByLoSellHi:

The Port at Long Beach, Cali, has run out of room to store cars.

There was an articles in Bloomberg today stating Toyota has hired cargo ships to store new cars offshore.

It's amazing that the dealers are not giving appropriate price cut deals... discounts are only a bit bigger than normal, I'd say.

 

[wilburbear]

Quote from Scataphagos:

It's amazing that the dealers are not giving appropriate price cut deals... discounts are only a bit bigger than normal, I'd say.

Let 'em die with their inventory!

 

[Pascal]

Price fixing is finally coming back to bite them. I am guessing the same thing is going to happen to OPEC this year. Oil should be around 20 a barrel with the huge inventories and drop in demand, but the collusion by governments, producers, and conglomerate banks has artificially propped up the price. There is a glut of oil, soon the world will be drowning in oil.

 

[gigsup]

1998 GMC SLE..........120,000 miles(best truck I ever owned)


2003 NISSAN 350Z........70,000 miles


New Car.............you gotta be kidding.

 

[wilburbear]

News out just tonight.

Chrysler dealers instructed to dump tens of thousands of cars.

Add that to the worldwide millions in the first post.

6 months from now you'll buy a new car at a modest multiple of the cost of storage!

http://news.yahoo.com/s/ap/20090517/ap_on_bi_ge/us_chrysler_moving_metal

 

[dealmaker]

Factory never tells dealers what to do ( has to do with the state franchise laws), they can only encourage them with incentives. What the author of the article does not realize is that while cars got to go, the demand is weaker than ever especially for Chrysler and GM products and when you offer huge incentives and increse business temporarily, all you are doing is bringing business forward i.e. stealing from future months; thus it will take more than just price to sell those cars..