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'The pain is just beginning': After 38,000 layoffs, Wall Street wakes up to 'peak car' – Business Insider

June 2, 2019

‘The pain is just beginning’: After 38,000 layoffs, Wall Street wakes up to ‘peak car’  Business Insider

– Global demand for cars will decline 3% in 2019, analysts predict. – There have been 38,000 job losses among automakers in the last six months. – One stark example: Commercial vehicle exports from the UK collapsed by 89% in April. – The decline of cars will hurt GDP growth. It has already wiped 0.2% off global GDP. – The world may have already passed “peak car.” For the auto business, “The pain is just beginning,” according to Nomura analyst Masataka Kunugimoto and his team. “We now expect global auto demand to be down 3%,” year on year, in 2019, he told clients recently. He is not alone….

Source: Google News | 'The pain is just beginning': After 38,000 layoffs, Wall Street wakes up to 'peak car' – Business Insider

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