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Worldwide New Car Parks: No Buyers, No Prospects

Written by Gary North on May 19, 2014

Around Europe, cars are being parked in huge lots. There are no buyers. Yet to conceal reality, car companies are parking them and walking away, leaving them to rust.

The aerial photographs are simply astounding. These are new-car parks. No one wants them. No one is expected to want them. The car manufacturers pretend that the market will change. It won’t.

Soon, these cars will be last year’s models.

Click the link to see the photos. Here is just one.

 

CarLots

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18 thoughts on “Worldwide New Car Parks: No Buyers, No Prospects

  1. Liberty1 says:

    That story has already been blasted as bogus. It was debunked almost the moment it was posted on ZeroHedge.

  2. diabetichamsters says:

    Good refutation here, pardon the language. I had a hard time swallowing the idea that car companies would continue to churn out cars that they can't sell. They'd be bankrupt in no time. The market can always clear at some price.
    http://jalopnik.com/that-zero-hedge-article-on-un

  3. Truth and Fiction says it's false and photos used are from six to seven years old. During that period I was traveling through the Southeast U. S. and personally saw one heckuva lot of fully loaded vehicle transport railcars (semi-enclosed) parked on unused track sections adjacent to secondary highways…..hmmmmm!?!?!?

  4. I hate it when people come up with these fake stories.

  5. chrisnj says:

    Car companies in a free market would never continue to produce products for which there is not a market – however in a political economy where car production and car union jobs are an important metric and are subsidized by governments eager to cook the economic books – one can't entirely shrug such a story off.

    For example, consider the tens of thousands of subsidized windmills that now are spreading across the landscape. Most of them don't even turn or produce a watt of electricity in a gale wind – yet since subsidy pays for them, they are still being built and erected, without a prayer of every paying for themselves before they rust away in the weather – not unlike the cars in this story.

  6. Tionico says:

    that would put it at about 2008 or so… the beginning of the great crash here in the US. Production was still fullbore, and the cars had to be cleared out of the manufactories. They were "decked" on sidings here and there… and as production slowed, they were eventually cleared out. I guess some fleet buyers got some sweet deals. And we the taxpayers foted a large part of the bill through some illegal bailouts. I also suspect that was part of the motivation (illegal as it was) to field the federal Cash for Clunkers schemozzle. When the out of pocket price of something drops, more of it gets sold. Too bad a truly free market solution was not allowed to sort it all out.

  7. That was one of the mistakes that dear Roger made when he was CEO of GM. He opened up new, state of the art production facilities, and refused to close the old ones down. Soon he had enough production capacity to satisfy the automobile needs fo the entire world — that is, assuming that the world actually wanted to buy GM cars.

  8. Owen Kinnan says:

    By whom? Who debunked it? It seems to me that photos do not lie. So who debunked this story?

  9. Owen Kinnan says:

    Can it? Do you have data to back up your statement. Photos do not lie.

  10. Owen Kinnan says:

    Seems to me that a lot of folks posting comments here are in a little bit of denial. Photos do not lie. And, they are not all old photos. If you go to the Zero Hedge website and actually read the entire article along with the photos, you will see that they are not all old.

  11. Liberty1 says:

    Almost every economic commentator on the web. Photos do lie when they don't represent current conditions.

  12. Liberty1 says:

    Owen, I think you may be the only one in denial. Read the comments by the economic commentators that debunked this story days ago. Photos most certainly do lie when used to mislead people into believing something that isn't true. The reason this was jumped on from the get-go was that it doesn't pass the smell test. People started researching it immediately. Think about it. The premiss is ridiculous.

  13. robert siddell says:

    I want to replace my 1999 4 cylinder Tacoma 5 speed manual PU with another simple quarter ton truck but there isn't one being sold. Even the salesman said it was more desirable than what is available and he is looking for one too. Surely somebody makes them so why aren't they being imported and for sale here? Also, I prefer diesel because my Kubota is vastly better than a gas tractor but small diesels aren't available either. If they'd make what people want they would sell more and if Republican politicians really fought for conservative issues like immigration, a third more Americans would vote for them. I don't believe are being so screwed is some accident of stupid CEO's or politicians.

  14. Bean Bagger says:

    The unions put in a administration that is eliminating the middle class. This puts the unions out of work.

    So the dog comes back to bite it’s own ass. I always thought the greedy unions should be the first to pay!

    You put yourselves first by putting an a illegal-negro, it fitting you should be the first to pay!

    Ten of thousands of union members face layoffs. Is this the beginning of the collapse? Yeah!

  15. PlanoSteve says:

    Does anyone think there there is a lot full of brand new 2009 Dodge Durango SUV's sitting in a lot because they didn't sell? Come on use some common sence.

  16. Elizabeth says:

    Owen,
    You keep saying "photos do not lie" – have you ever heard of Photoshop? Do you believe magazine cover photos are real representations of the models? Photos can be manipulated, and are, and you cannot tell.

  17. These type of problems are in every country of world. When i go for shopping, i always caught by problem which is car parking. Anyhow, thanks for sharing the nice post and idea with us.

  18. Weathers are becoming too extreme in recent years and it has become too difficult to reach your car which is parked out of your house or office. Now this problem has been resolved with the invention of car remote starter.