“There are some signs automakers might be stepping on the gas a little too hard. Some 3.27 million new cars are now sitting on lots across the U.S., more than there have been in almost five years, according to Automotive News. That’s a lot of cars—just enough to equip every man, woman, and child in the state of Iowa with a new vehicle. A year ago at this time, by contrast, there were 2.7 million vehicles lying in wait across the country; summer 2011 saw an inventory of about 1 million fewer cars. Looking for a deal on a vehicle in the next month or two? Dealership lots that stock American automakers appear to be ripe for bargain seekers.”
http://www.businessweek.com/articles/2013-07-31/american-automobile-glut-unsold-cars-are-piling-up
Related posts:
Sterling crisis looms as UK current account deficit balloons
French 75% income tax struck down by constitutional council
French rail company orders 2,000 trains too wide for platforms
Danish mayor and police at odds over cannabis approach
Pentagon to review controversial drone warfare medal
Egyptian army detains ousted president Mohamed Morsi, rounds up Brotherhood leaders
Lost jet skier wanders through JFK airport security
UK government pays Libyan dissident’s family £2.2 million over MI6-aided rendition
McCain says he feels ‘lonely’ on Syria stance
Dallas mother sentenced to 99 years for gluing toddler’s hands to the wall
Robbery convict imprisoned 13 years later after cleaning up his life
Feds Searching Record Number of Our Personal Devices at the Border
Officer receives 14-month sentence for excessive force, falsifying report
Federal Reserve confirms its computers were hacked
Poll: Public doubts rise on surveillance, privacy