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New Car Market: Prices Are About to Plummet Due to Oversupply
- PaulHoule 3y agoOversupply of trucks and SUVs. If you want a small car though you'll be out of luck. Ford's obsession with trucks has led them to stockpile thousands of unsold F-150s in vast parking lots with the keys in the ignition. They can't stop people from driving off with them: https://www.thedrive.com/news/million-dollar-new-ford-f-150-theft-ring-sold-stolen-trucks-to-innocent-buyers https://www.thedrive.com/news/million-dollar-new-ford-f-150-... Thanks to a monopoly in freight rail and the resulting underinvestment there are 70,000 new vehicles sitting in parking lots that can't be sold. They are described as "cars" in this article https://www.thedrive.com/news/car-dealer-inventory-is-running-lean-again-thanks-to-a-shortage-of-trains https://www.thedrive.com/news/car-dealer-inventory-is-runnin... but I am sure most of them are trucks and S.U.V.s and if the car manufacturers have a choice between using limited resources to ship an expensive S.U.V. or an inexpensive car you know which they will pick.