Wikinvest Wire

Anyone wanna buy a car? Please?

Friday, January 23, 2009

Over at the Guardian website, there's a pretty neat series of 13 pictures depicting the rapidly growing inventory of new cars around the world. Here are two:


donna said...

Why don't they just put these things out there on ultra-cheap leases or set up zip car rental places everywhere? The cars ought to at least be used instead of sitting there rusting.

I would love a new car right now but am sure not buying or leasing one at the prices they have them for right now.

Adam said...

if i'm correct that's a race car track. they are storing unwanted cars on old unused race car tracks. there's got to be some irony in that.

staghounds said...

I'll buy a new Wrangler for $15,000. Dark green, 4x4, automatic.

All they need to do is cut the prices.

Anonymous said...

I gotta agree that prices on many models are still not that low. $2500 rebates on $28,000 pickup trucks is less than 10%. The profit margins on them are bigger than that I have heard.

It's just like homes. If you really want to sell it, lower the price. It at least buys you time to restructure the biz and keeps some cash flowing back in. I would think that selling vehicles at a small loss would be better than having them sit for months, then selling them for even less.

I'm Not POTUS said...

Adam that is the carmakers test track. No need to test new cars when you can't sell the ones you have already made.

I drove down PCH on Sunday. There are more ships anchored off outside the breakwater than there are inside the harbor. Funny thing is half of them are oil tankers sitting low and full just waiting for the prices to skyrocket.

John S said...

All those cars will eventually find a home. Obama started the motions today on difficult, if not impossible, emission and fuel economy mandates in time for the 2011 model year. Severely limiting what kind of car you can buy 8 weeks before the 2010 mid-term election makes little political sense to me, but for those who don't want to drive a lightweight, underpowered death trap, they'll be enough brand new 2007, 2008, 2009 and 2010 cars and trucks to fill demand for decades.

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