http://www.thetruthaboutcars.com/new-cars-going-nowhere-fast-inventories-swell-to-bursting/ New Cars Going Nowhere Fast; Inventories Swell to Bursting By Robert Farago December 7, 2008 - If you think itâs a buyerâs market for new cars, oh man are you right. But you ainât seen nothinâ yet. Literally. âAt the Long Beach port near Los Angeles,â Reuters reports. âToyota 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 AGâs 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.â Imagine this. âThe 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.â So, if the ports are choking on new cars, where are Motownâs unsold machines? Everywhere, our spies tell us. Everywhere. Import or domestic, their products donât have an idefinite shelf life. Thereâs 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.
But I thought that all foreign cars were made right here in the US, by American workers in Alabama!?!?:eek:
I may pick up a new Prius, with the 10 year battery warranty, for around 15k, when the price gets there, which it will.
Great so now that gm has more money they can continue to overbuild cars and pile them at ports around the world.
I've seen this same story for weeks. Wait until they start writing about the the firesales that should happen afterwards.
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 ?
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