Ten years ago this week, we posted one of out most viral stories, highlighting the over-capacity in the auto industry 'Where the World's Unsold Cars Go To Die,' which highlighted the 'endgame' of automakers' 'channel stuffing' efforts to disguise the sudden lack of demand for all the exciting new models that they had forecast would boom to the moon... And now, as MishTalk's Mike Shedlock reports, we are seeing similar pictures across Europe...
Alongside Swedish-Norwegian Wallenius Wilhelmsen, it is one of the main operators of the now merged port of Antwerp-Bruges, the world’s largest automotive terminal, through which the production of some 40 brands used to transit. But that was before the emergence of their Chinese competitors. Car Parks Quartz reports Cars are piling up at European ports at an alarming rate Imported vehicles are seriously piling up at European ports, turning them into “car parks.