Cars ahoy!

The Financial Times reports that out of work ships are being used as storage for unsold cars during the global economic downturn as ports have run out of parking spaces.

Just goes to show that one man’s downturn is another man’s boom time as if the surplus of unsold cars is now having to be stored on board underutilised ships these ships can now make money for their owners. Not only that with storage centres, ports and airfields bursting with new unsold cars, shipping and storage companies must be rubbing their hands with glee with the rental they can now charge the cash strapped carmakers during the downturn.

Form a consumer’s point of view this must be seen as further proof that there surely must be a new car bargain or two on the 'horizon' in the not too distant future as these cars will need to be off-loaded as soon as possible as they start to become money pits.

Let’s hope that these new cars don’t catch too much sun on their cruises around the world, it may also not be too much of a surprise if a ship runs into difficulty and sheds its load into the deep blue thus solving a few thousand problems for some manufacturers at one fell swoop!

Watch out for those increased insurance premiums at renewal time, after all someone’s got to pay for all this mess and that usually means us!