Growing stocks of unsold cars around the world

[mikeyb]

Carmakers around the world are cutting production as inventories build up to unprecedented levels. Storage areas and docksides are now packed with vast expanses of unsold cars as demand slumps.

http://static.guim.co.uk/Guardian/business/gallery/2009/jan/16/automotive/xnissan-6163.jpg

Nissan has announced plans to cut its Sunderland workforce by 1,200. Thousands of unsold cars are stored around the factory's test track.

http://static.guim.co.uk/Guardian/business/gallery/2009/jan/16/automotive/xhonda-9536.jpg

Honda is halting production at its Swindon plant in April and May, extending the two-month closure announced before Christmas to four months. Honda and Japanese rival Toyota are both cutting production in Japan and elsewhere. Pictured, Hondas await export at a pier in Tokyo.

http://static.guim.co.uk/Guardian/business/gallery/2009/jan/16/automotive/xlrover-2122.jpg

Land Rover Freelander cars await distribution outside the Halewood operations site in Liverpool.

http://static.guim.co.uk/Guardian/business/gallery/2009/jan/16/unsold-cars/jaga-9689.jpg

http://static.guim.co.uk/Guardian/business/gallery/2009/jan/16/automotive/xcorby-1438.jpg

http://static.guim.co.uk/Guardian/business/gallery/2009/jan/16/automotive/xsheerness-8359.jpg

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http://static.guim.co.uk/Guardian/business/gallery/2009/jan/16/automotive/xnewark-829.jpg

http://static.guim.co.uk/Guardian/business/gallery/2009/jan/16/automotive/xford-7803.jpg

http://static.guim.co.uk/Guardian/business/gallery/2009/jan/16/automotive/xvalencia-180.jpg

http://static.guim.co.uk/Guardian/business/gallery/2009/jan/16/automotive/xpeugeot-8962.jpg

http://static.guim.co.uk/sys-images/Business/Pix/pictures/2009/1/22/1232622867111/Unsold-cars-at-Avonmouth--001.jpg

http://static.guim.co.uk/Guardian/business/gallery/2009/jan/16/unsold-cars/avonc-8787.jpg

[CHICO2003]

Well that sure was... uplifting.

Cool photos though

[altspace]

Where's Waldo?

[soccom2005]

u just wonder what is going on in the world... thats a lot i mean a lot of cars...

[CTt3P5]

Wow!

I wonder if they will be starting them up and moving them around periodically to keep the fluids flowing. I would hope they wouldn't sit for that long but all things considered it would suck to buy a new car that has sat for months without having a key turned.

[SuperStretch18]

I wish I was in the market for a new car. Now is the BEST TIME EVAR to buy!

[Flash5]

ha had to suck to be the guy who had to park those cars, not to mention how much of a pain it would be to find any one of them. but yea thats a pretty intense set of photos to look at all things considered.

[CHICO2003]

I wish I was in the market for a new car. Now is the BEST TIME EVAR to buy!

It's a great time to buy... if you can afford to buy. The reason it's such a great time to buy is because very few people can afford to buy. So.. unless you're one of the few, it's not really a great time to buy.

[BlkWidow]

if u can afford to buy a new car, now u can wheel and deal

[CHICO2003]

Having just went through that process... I can attest that, while there are more incentives/rebates out there than ever before... For me (and the type of cars I've always been interested in) not much has changed. I mean... back in '03 when I bought my MSP I bought it for $200 over invoice. I could've gotten the same type of deal on a WRX as well as an SE-R. On top of that, the APRs back then were super low. I remember bitchin about the fact that I had such a "high" rate of 3.9% for 60 months. (Some of my friends were qualifying for 1.9%)

These days... sure, cars are being sold at or near invoice. But for a savvy buyer... has anything really changed in that regard? Ironically, with the APRs being 2-3 times as high as they were 6 years ago... this might not be as great of a time to buy as we all initially thought.

The more I think about it though... even despite the inflated interest rates... If you happen to be in the market and can afford to buy... it probably is about as good as it'll ever get. The amount of incentives out there has never been higher. GMs especially can pretty much be had for well under invoice so... if you're partial to those types of cars, it's indeed a great time to buy.

[ForceFed]

It's a great time to buy... if you can afford to buy. The reason it's such a great time to buy is because very few people can afford to buy. So.. unless you're one of the few, it's not really a great time to buy.
I just bought two....Guess I am lucky huh?

[1sty]

the rebates and incentives still are not very good. I cant think of any brand that is really rebating cars drasticly compared to what they were doing before october.

They all seem about the same or maybe $500 more but what the hell is $500 really when spread on a 5 year loan with a $30,000 car?

having a 750+ credit score, I am waiting until they get really interesting.
Interest still are not that much higher then before, in fact they may be lower depending on the promotion.

[Moonpie.Express]

Some off those pics are stock photos. I have seen sights like that for years. Go to any major port and you will see that. Cars move from there to the dealership. They do not come into the country unless they are already ordered.
Their is a huge lot 10 miles from me that is the collection depot from manufacturer's around the country. They are delivered by train and trucks pick them up for delivery. It looks like those pics.

I do not deny there are some issues out there nowadays, but this is your basic fearmongering ....the sky is falling!!!!

I put less weight to its message based on the pics.

[Rogue]

http://static.guim.co.uk/Guardian/business/gallery/2009/jan/16/automotive/xhonda-9536.jpg




Some off those pics are stock photos.Those are previous generation TSXs and Accords. No way that's a recent photo.

[slug420]

like chico and 1sty said....despite the popular (and i mean popular) belief that you can get a STEAL right now on any new car thats just not the case. I think if anything auto makers are trying to make a buck off of this popular belief (which their being in the virge of bankruptcy certainly contributes to) by offering mediocre deals (at best) since a lot of the uneducated consumers walking into the showrooms are going to assume the deal they get is AMAZING.

I almost bought a 2003 F150 last spring. I found a really good deal on one that I had been looking for (specific options/features etc) and alllmost pulled the trigger, but everyone I knew (friends/family/people who go to auctions) said "in this economy? with these gas prices? You shouldnt pay that much" even though the price was well below KBB/NADA. So I passed it up when he wouldnt hit my lowball number and as of last september/october I still had not found another truck with the same features for the price he offered his at.

Then in November I wanted to buy a different truck. Had another forum member who works at a dealership ready to go to auctions on my behalf to find one (again very specific trim level/features) and the price he was telling me I would wind up paying was barely below others I had seen on the market so its not like these things are being given away at auction either.

In december I had to have my emissions testing done and I happened to be having it done at a dodge dealership. While there I saw a lineup of the new RAMs and wanted to check them out since I had seen the cool commercials with them. Mostly I was curious to see the bedrail "rambox" thing which looks to be extremely practical.....anyway I go look and not a single truck in their line of about 10 brand new ones had this rambox feature. None had the moonroof/Navi/Leather options and none were Laramie trim level....yet the one I looked at on the end of the line was listed at 44,xxx+....run the math on that...it will take a lot more than a 3.9% interest rate or something to make that a bargain.

[bazooka joe]

i'll be in the hunt this spring...my wife wants a new suv...i'll be sure to post up about the process and if there are really any bargins out there...

[skylar2ups]

We bought my mom a loaded 2007 Mitsubishi Outlander (XLS V6 4WD) for $18.5k the sticker price was just over $30k.
She was in Florida on vacation (she lives in Ohio) and we went to go look at cars for the fun of it and she ended up buying it.
Of course it was a brand new 2007 with 150 miles on it and we bought it in Dec. of 2008 so they had to get rid of it or risk paying for it.

[bazooka joe]

(boom08)that's nuts! what a deal though

[skylar2ups]

When I get to make a trip to Ohio I'll make a copy of the papers because I'm sure there will me a few people on here that don't believe it.