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Unsold Cars Remain Parked Near Port

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Feb 10, 2009 6:44 pm US/Eastern

Unsold Cars Remain Parked Near Port

Reporting
Alex DeMetrick
BALTIMORE (WJZ) ― Tens of thousands of brand new cars may be ready to go at the Port of Baltimore.  Trouble is, they aren't going very far.

Alex DeMetrick reports that's led to a monumental parking problem.

Thousands and thousands of brand new cars are filling up the docks and lots of the Port of Baltimore.

"I've been with the port since 1993 and I've never seen it this congested with automobiles," said Jim White, director of the Maryland Port Administration.

The reason is they aren't moving at local dealerships.  Not only are sales sluggish, last year, a dozen Maryland dealers stopped selling altogether.

"Demand is far less than supply and you see that at the Port of Baltimore," said economist Anirban Basu.

While space is at a premium, the port is not about to turn more cars away.  That would cost longshoremen, the state and Baltimore money.  Stopping ships is not an option.

"We will find additional acreage inland," White said.

All this pent-up supply means good deals for buyers and lots could empty quickly if the economy picks up. 

Even though space is tight right now, the port is doing what it can to keep customers happy.  Based on past recessions, those customers remember the ports that helped during hard times.

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