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1
zzyzzx
2014 May 20, 5:12am
zzyzzx
2014 May 20, 5:12am
I never thought it as true, one of the reasons being that I occasionally ride my bike past one of the mentioned places.
2
corntrollio
2014 May 20, 5:59am
It was pretty obvious it was bullshit to anyone who knows about cars. It was obvious that some of those were shipping sites for cars and that other pictures were likely old (i.e. from 2009 when the new car market was dead and we suddenly went from 16M cars sold to 9M cars sold in the US alone).
Car manufacturers managed the lack of demand a few years ago by idling some shifts or factories and by dumping excess production like they normally do (e.g. Americans + Toyota sell to rental fleets, dump Hondas in Ohio for cheap leases, etc.).
I find Zerohedge to be alarmist and over-the-top scare mongering most of the time...I tended to chalk it up to them to interpreting the data with a heavily bearish sentiment...
This makes it sound like they are just making shit up, though:
http://www.calculatedriskblog.com/2014/05/amusing-false-story-on-auto-inventory.html
Original ZH article here:
http://www.zerohedge.com/news/2014-05-16/where-worlds-unsold-cars-go-die