The Financial Times reports that the glut of unsold new cars has spilled onto previously underutilized ships. Carmakers have apparently run out of space on dealer lots, ports of entry, rail cars, and airport runways. Just last spring, there wasn’t enough capacity aboard the world’s fleet of 640 car carriers to go around, a situation upended by the global downturn in car sales starting around September. Coincidentally, there are 70 more (and larger) car carriers due to be delivered this year. Shipping companies are relieved to get the storage business, and carmakers get someplace to hide their cars. The FT.com article was able to confirm that up to 2500 Toyotas are chartered for an extended cruise to nowhere aboard the Morning Glory in Malmö, Sweden. (Pictures, anyone?) As long as the boats don’t flip over, the cars will be just fine. [ED: Until the marine environment takes its toll.] And if not: sad, sad pictures of shredded Mazdas aboard the Cougar Ace here.
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