You think it’s a buyer’s market for new cars? You ain’t seen nothin’ yet.

Discussion in 'Economics' started by ByLoSellHi, Dec 8, 2008.


    New Cars Going Nowhere Fast; Inventories Swell to Bursting

    By Robert Farago
    December 7, 2008 -

    If you think it’s a buyer’s market for new cars, oh man are you right. But you ain’t seen nothin’ yet. Literally.

    “At the Long Beach port near Los Angeles,” Reuters reports. “Toyota Motor Corp vehicles including Prius hybrids, FJ Cruiser sport utility vehicles and Lexus IS 250 luxury sedans are being stored on a vast construction site that will one day be a new container terminal.

    Unloved FJs-- and how-- await new owners. (courtesy reuterscom)

    The site became a gigantic parking lot when Toyota and Daimler AG’s Mercedes-Benz asked the port for space to store thousands of vehicles that dealerships have not been able to take on due to sluggish sales.”

    Imagine this. “The port has not counted how many additional cars were being stored, but Wong said Toyota has leased an additional 23 acres of space while Mercedes-Benz has leased about 20 more acres.”

    So, if the ports are choking on new cars, where are Motown’s unsold machines? Everywhere, our spies tell us. Everywhere.

    Import or domestic, their products don’t have an idefinite shelf life.

    There’s only so long the manufacturers can afford to keep these new cars off the market, propping-up new car prices.

    Bottom line: as predicted here, new car prices are headed for one Hell of a crash. And soon.
  2. clacy


    But I thought that all foreign cars were made right here in the US, by American workers in Alabama!?!?:eek:
  3. I may pick up a new Prius, with the 10 year battery warranty, for around 15k, when the price gets there, which it will.
  4. Great so now that gm has more money they can continue to overbuild cars and pile them at ports around the world.
  5. Everything is going exactly as planned.
  6. I've seen this same story for weeks. Wait until they start writing about the the firesales that should happen afterwards.
  7. Loki


    I was at the LA autoshow, as I was sitting inside a few models the people working there were really agressive.

    - Everything all right Sir ?

    - Want to leave your name and address so we'll send you some brochures ?

    - How about your email ?

    It was never like that before. Is the price of oil going down so that more and more people feel comfortable in buying a new car ?
  8. gnome


    That IS what the UAW is lobbying for.. And they need as much money from the tax payer as they can get to keep their circus in town as long as possible before going BK :mad:
  9. LVMises


    or DK:D
  10. What sort of cash discount is being offered for a big merc

    #10     Dec 8, 2008