The last time inventory piled up in car dealerships it was 1980. All across America cars are now sitting idle, with automakers producing more cars than are being bought. Dealership owners are now facing the prospects of having to either reduce the amount of cars ordered to them, or rent extra space to store the unsold vehicles.
"Dealers had about 85 days worth of cars and trucks on hand at the beginning of February -- about 22 days more than at the beginning of 2017 and eight days more than a year earlier, according to Automotive News Data Center."
The Cause
Car salesmen are keeping optimistic despite the inventory highs, claiming sales are just fine, even though their lots are overflowing.
It is speculated that salesmen may have to boost discounts in an effort to drive more sales. Reports suggests that sales have dropped by approximately .2 million annually. Furthermore, the growing market seems to be moving away from cars altogether. Trucks seem to be where everyone is heading.
