Growing Stocks of Unsold Cars Around The World
Ten pictures here. Pictured above is the build-up of imported cars at the port of Newark, New Jersey.CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Saturday, January 17, 2009
Ten pictures here. Pictured above is the build-up of imported cars at the port of Newark, New Jersey.About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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9 Comments:
This must be economically bullish right Prof? hahahah
That's a lot of golf carts save for the Big Three.
Having been through, and survived, a number of these recessions I believe this is a good sign. There is a correction going on.
BTW, these cars are still assets and will just have to be price adjusted in favor of the buyer when the upswing commences.
Why is it we never get the same deal with government taxes and fees?
Today is a great time to buy a new car. Be contrarian and purchase a new American car!
Suddenly the world may have realized that we do not need all that cars, particularly SUV, 4x4, etc. That's good news and accordingly we should not continue to build bridges to nowhere. The point is to replace the car industry and employment with something more interesting, which can create jobs. Let's go back to first industrial revolution building trains, public transport and other energy saving means of transportation. At the end of the day, do we really need a car to live?
"At the end of the day, do we really need a car to live?"
Answer: For most people, yes.
mgiannini said:
Suddenly the world may have realized that we do not need all that cars, particularly SUV, 4x4, etc. That's good news and accordingly we should not continue to build bridges to nowhere. The point is to replace the car industry and employment with something more interesting, which can create jobs. Let's go back to first industrial revolution building trains, public transport and other energy saving means of transportation. At the end of the day, do we really need a car to live?
Despite my car being of a Detroit design, my Buick does not operate on timetables. Nor does it attempt to be European in nature.
It doesn't have a first-class or steerage compartment. It has one compartment - the car - owned by me. It does not try to be green when flooring it pushes me back. I cannot get that within reason in any of the "green" cars.
I'd like to see those affluent ski resort enclaves build rail between themselves and a major city. Of course, it might offend them if commoners could approach in greater numbers.
Probably worth pointing out that even with just in time manufacturing it is quite common for large stocks of cars to be parked waiting for sales. I read somewhere (reliable!) that one lot ( at a port I think it was) usually had around 80,000 cars and it had swelled to 100,000.
I imagine for efficiency sake most of these lots would be only the size required for normal operation so a small glitch would rapidly fill them.
For instance - take the first photo with all the cars on the race track. On the right they are grouped in batches. Now count a batch - I get about 30 cars. Now multiply that by the roughly 20 batches up that side and you have 600 cars. A rough estimate would give about 2000 cars for the whole race track. It looks like a huge number of cars but in fact is only 2000 (roughly!)
Further to my previous comment photos 2 and 3 are close ups showing probably no more that 300 cars in each and shot 4 - also impressive looking - has maybe 1000 cars in it.
There is usually a reason for showing close ups like this. It means that the numbers aren't as impressive as the photo is trying to show and the 'crowd' rapidly tails off outside the photo, yet the photo gives the impression that it extends forever.
A bit like that famous closeup shot of Cindy Shehan talking to dozens of reporters with a tight crowd packed in around her. Take a wide angle and there were more reporters than supporters!
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