What happens when you have an auto glut that simply won't go away? What do you do with all of those unsold cars? It's a question wefirst explored way back in 2014 in an article called "Where the World's Unsold Cars Go to Die". In that piece, we highlighted images from around the world of various places unsold cars were being stored.
Back then, we could have never predicted that a pandemic would be the black swan that would have caused the next historic buildup of auto inventory. But now, with ports at capacity, tankers carrying automobiles - at least those tanker that aren't carrying oil - are being told to stay out at sea.
Such was the case on April 24 when a cargo of 2,000 Nissan SUVs was approaching the port of Los Angeles. They were told to drop anchor about a mile from the port and remain there. The port was full and the glut is indicative of just how the industry has collapsed in the U.S.
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
What a mess
ReplyDeleteThe communist takeover of the world is under way.
At times like these, most businesses would have a 50% off sale or buy one, get one.
ReplyDeleteSimple fix...Can you say Man made REEF? Sink them, buy American, go fishing...Well, my work is done here, you're welcome!
ReplyDeleteCorrect 11:13 Thank you
ReplyDeleteVery difficult to park an SUV in the ocean.
ReplyDeleteThink about it.
The SUV is sitting on a ship, which is floating in the ocean.
Big difference
You are so damn dense.
ReplyDelete