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Are we approaching "peak" car?

Old 05-23-19, 11:22 AM
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Default Are we approaching "peak" car?

With carmakers worldwide announcing at least 38,000 job cuts in the past six months alone, the auto industry is “staring down the barrel of what we think is going to be a significant downturn,” says Bank of America Merrill Lynch analyst John Murphy. “Sluggish sales" in China and the U.S. are partly to blame, according to Bloomberg, while others look at the shift toward electric and self-driving vehicles and wonder if we may even be nearing "peak car." Ford said this week it plans to cut 7,000 salaried jobs, or 10% of its white-collar workforce globally, by August.
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