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Wholesale Sales Collapse Most In 5 Years As Autos Lead Inventory Surge
We are sure the great and good of the economic world will explain away this data with one word - "weather" but the 1.9% drop in Wholesale Sales is the largest in 5 years and aside from the financial crisis is the worst since 1993! This is also the biggest miss on record. Inventories rose more than expected (+0.6% vs +0.4% expectations) which could be a problem as the inventories/sales ratio surges to its highest in 11 months. Unsurprisingly, Autos saw the largest inventory build (+6.8% YoY).
Wholesale Sales plunge...
With auto inventory at all time record highs and growing at the fastest pace in 15 months
Chart: Bloomberg
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Whateva - just buy $PLUG and put your worries to bed. This forklift company is doing amazing things. I'm bullish the US of A!!! Fuck yeah!!
whats that trading at now..... 54x ttm revenues? Up 600+% YTD.. All you have to do to make it in America nowadays is buy on margin...
I don't know about the rest of you luddites, but I am not looking forward to having to buy a car that thinks about the traffic conditions ahead, can parallel park, and has an active wifi connection with others.
pods
Moar inventory means moar to sale. stock go green on this bullish news
They'll be bringing back the $99/month BOGO deals soon enough. They're literally running out of asphalt, comcrete, gravel & even grass to park the sheet metal on.
The Central Fiat Fractional Reserve Banks fixed the economy, bitchez.
Free hot dogs, leprechauns, face painting & green clover helium balloons at the St. Patrick's Day Kia/Chevy/Chrysler/Buick/GMC/Lincoln/VW/Ford/Fiat/Hyundai/Toyota/Nissan MEGASALE!!!
Slow car sales and the death of retail in the USA. Slowing in China with huge debts. This does not look like a good recipe, nor do I see how are chefs at the Fed will wriggle out of these deflationary trends.
Unless/until they print. Deflation, then inflation?
People are just all saving to buy a 120K Tesla I guess...
Just wait until Chinese Consumers realize that the price they see doesn't have to be the price they pay.
It will make trampled-to-death-for-$99-HDTVs-on-Black-Friday-in-USSA stories seem tame by comparison.
"how are chefs at the Fed"
I'm sure the chefs at the Federal Reserve are fine, and they have a recipe for their success...
Sorry dude, had to poke fun at the use of "are" for "our". Chef, chief, not really sure about that one though!
WAIT, YOU MEAN THE 400% PROFIT MARGINS ON NEW CARS IS THREATENED ?
well....it was.....really cold.
\
Yeah, the bounce-back this spring is going to epic. EPIC, I TELL YOU!
Global warming caused that plane to disappear. Deny all you want, it's true.
These oscillations in the matrix are really becoming a problem.
Look on the bright side, when that deer comes by twice you can double your freezer contents?
Just tryin to help.
pods
Surely this is a good reason for the stock market to go up!
BULLISH buy the FATH again and more
low level bankers, realtors, and car salesmen are the next to enjoy this wonderful recover. Welcome to the party pal! [/John McClane]
My commuter train goes behind a Honda dealership. Normally I don't really pay attention, but yesterday I whispered under my breath.... "thats a lot of fucking cars"
More cars equals more demand, right?
More demand for parking lots. Like I've said before...china builds ghost cities, we have Ghost Cars...ship Ghost Cars to Ghost Cities for illusion of Activity.
Maybe we should improve access to financing /sarc. We have ghost cities too BTW. Ours just sprawl more than tower.
Bullish for empty mall parking lots that can be used to store the auto inventory overflow
Can I get a Mall Parking lot REIT?
No!
Can I get a Mall Parking lot REIT? POS Site problem
Dammit! I said NO!
Can I get a Mall Parking lot REIT?
Well, shit.... Go ask your mother.
....ghost city economy ... nice ...it has a certain catchy ring.
Jon Corzine......ghost city broker...
Krugman ought to be in heaven. He will probaby try and talk Congress into using them for target practice for the new weaponry he's proposing for the imaginary space alien invasion he wants them to concoct to raise demand and take all of the money from the selfish people who are hoarding/saving it.
Think of all the broken windows those new nuclear lasers could destroy. This could take the world economy to a new all time high!
No, it's an indication of how well the last car was built.
Cash for Clunkers 2!!! USA!! USA!! USA!!
Gimmee my free shit!!!
I agree. But this time we should go full-keynesian on it. Mandate that all cars prior to 2012 be crushed and replaced with new ones.
Krugman is pressing Obama to sign an Executive Order that decrees any vehicle not having BOTH a) radar sensor cruise control and b) adaptive braking be confiscated immediately & scrapped, in order to "protect the public health, safety and welfare."
any a you homo's... touch my classic, and I'll kill you.
Absolutely!. But how's about some negetive interest rates with 10 year pick-a-pay negative ammort. financing. Let GM pay me to drive away in a new Vette. My bet is Janet will buy my paper. Besides, the Hannibal 8 is getting a little worn. Where do I sign?
Professor Fate
"Push the Button, Max"
The worse the economic new gets the higher CAT goes. Commodities dow CAT up! Sure this makes sense. Oh wait, low interest rates for ever means endless buybacks. Got it
Please explain "biggest miss on record." Miss from expectations?
Or did you mean fattest bitch on record?
My mouth still hangs slack when I look at that 2008-2009 downturn. That thing is just wicked.
We are now in a dead world bounce.
It looks like all markets are ripe for a little deflationary consolidation and theft from the weaker players.
Could it be that QE does not actually make the economy grow?
market dont care; higher!
Time for 120 month loans, that will fix it.
if 120 fixes it...140 hasta be supercharged growth
AND 48 MONTHS BEFORE YOU NEED TO MAKE A FIRST DOWNPAYMENT WITH A 100% REFUND IF YOU DON'T LIKE THE CAR AFTER 48 MONTHS!!
that would do it... would work better than cash for clunckers I say...
Coming soon to a dead auto mall near you!
I remember when sixty months was a shocker...but it sold cars as people are payment buyers.
i dont mind buying a new car every year but i have no money to do it
if automaking industry believes the Fed will stimulate me to do it then Ok we can keep going that way
the only problem - i have not seen a single dollar bill from the Fed yet
"i have not seen a single dollar bill from the Fed yet"
The Fed and the banksters want you to borrow and create more debt. Infinite debt in fact.
The FED knows how to grow money on trees. Unfortunately, the branches are too high for most of us.
They've put some extra mice on the wheel this morning to try and get this back to Friday's high. l think any ES shorts in the 1880s will be good. I'd like to see NQ get back to 3730 area this afternoon too. This will not go on forever.
"Can I get a Mall Parking lot REIT?"
I'm sure parking REITs exist, but they would probably be overpriced at this time. They'll be a fantastic buy after the next crash.
Gotta love that marriage of government and busisness.
Mussolini would be proud.
4 words: "free cars for everyone." paid for by Uncle Sam. your tax dollars hard at work. imagine the benefits: registration, insurance, gasoline, repairs, not to mention incoming taxes from all of those. virtuous circle! win-win!!
An Obama car to go with the Obama phone!
"Wholesale Sales Collapse"
I would rearrange the words: sales wholesale collapse.
Stuff the auto dealers. Used car prices are up as new car prices are up, up, up.
Smart dealers are in the used car biz and the new car biz is only for the factory financing. Have a pulse? You are approved as we want higher yields!
This recovery would be working great if it weren't for all this damn reality!! Curse you reality! Can't you see the people love their fantasy!! ;)
Have any of the talking heads on the 24/7 news channels managed to identify virtuous cycle as confiscate up economics?
Car go beep beep!
Obamacar: everyone gets a free car, the IRS takes it out of every working chumps' wages.