U.S. Auto Makers Hoping for Green Christmas
U.S. Auto Makers Hoping for Green Christmas (Bloomberg)
As auto makers stare down year-end inventories, they’re seeing lots bursting at the seams with cars and trucks. In fact, entering November, data provider WardsAuto found 3.4 million cars and light trucks populating U.S. lots, the highest figure since 2005. However, dealers still have to move those cars to make up for missed deliveries and production estimates in September and October. To do so, industry experts claim car companies either will have to trim production — a la Ford — or reduce prices to sell this many autos before year-end. For investors, that could mean falling share price through the year’s end.