I've already posted today that EV's are not a solution to anything. My wife's relatives in a Scandinavian country have them, but they continue be on the side of wrong for just about anything. I've learned to go against what they choose and I'm usually on the right side of most things. They are proud of their decisions and have no idea that they are so far from the truth.
(ZeroHedge)—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…
"Some are parked here for a year, sometimes more."
Le Monde reports Belgium's ports drowning under glut of Chinese electric cars: 'Some are parked here for a year, sometimes more'
Due to China's overcapacity in production – as it aims to capture a quarter of the European electric vehicle market – the ports of Antwerp and Zeebrugge are inundated.
You probably need to see it to appreciate the challenges the automobile industry faces in transitioning to electricity. You also need to come here to understand how the Chinese industry's overcapacity has flooded the European market. That morning, as the sun unexpectedly lit up the maze of highways leading to this remote arm of the port of Antwerp, Belgium, a huge cargo ship from the Norwegian company Höegh Autoliners unloaded thousands of cars at one of the terminals of International Car Operators (ICO), a subsidiary of the Japanese group Nippon Yusen Kaisha.
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." Automakers are distributors are struggling with a slowdown in car sales as well as logistical bottlenecks that make it hard to alleviate the buildup of new, unsold vehicles.
Some Chinese brand EVs had been sitting in European ports for up to 18 months, while some ports had asked importers to provide proof of onward transport, according to industry executives. One car logistics expert said many of the unloaded vehicles were simply staying in the ports until they were sold to distributors or end users.
"It's chaos," said another person who had been briefed on the situation.
story
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