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News Link • Economy - Economics USA

Graveyards for Unsold Cars

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When automakers have unsold cars, they often ship them to locations where the automobiles sit until they fall apart. An article in Zero Hedge claims the lots are vast graveyards for unsold cars, but other observers are challenging the charges. One of these massive parking lots for unsold cars is in Sheerness, in north Kent, England. There are hundreds of similar lots around the world, including more than 57,000 rotting cars in one location in Baltimore. The report claims sales of new cars has been declining over the last few years, leaving millions of cars without an owner. They sit in the giant lots, unused and unmaintained. As manufacturers produce more cars, the companies buy more land around the auto graveyards to contain the vehicles. Zero Hedge stated, "The car industry would never sell these cars at massive reductions in their prices to get rid of them, no they still want every buck. If they were to price these cars for a couple of thousand they would sell them.

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