Oct 27

US Automakers’ Worst Nightmare (In 2 Charts):

With the second half of 2015 “grim” for Chinese auto sales, US automakers – who have field-of-dreams-like built inventories to record levels – have turned domestic for growth by extending credit for decades to anyone who can fog a mirror. That was all well and good until we discover this morning that the government’s consumer confidence survey shows Americans auto-buying attitude is the lowest since Jan 2013. Automakers have two options, offer buy-one-get-one-free to all new Syrian refugees or cut production dramatically in hopes of easing inventory excess. Good luck.

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