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



What goes up must come down, even in car-loving America.

  • Global demand for cars will decline 3% in 2019, analysts predict.
  • There have been at least 38,000 job losses among automakers in the past six months.
  • One stark example: Commercial vehicle exports from the UK collapsed by 89% in April.
  • The decline in car sales has already wiped 0.2% off global gross domestic product, according to Fitch Ratings.
  • The world may have already passed “peak car.”

For the auto business, “the pain is just beginning,” according to the 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.

Continue reading… “‘The pain is just beginning’: After 38,000 layoffs, Wall Street wakes up to ‘peak car’”


The Coming of “Peak Car”


Futurist Thomas Frey:  In what year will the number of cars in the world reach its peak and auto sales overall begin to decline?

For most, it may be surprising to realize we’re already there in the U.S. Growing data shows many wealthy economies have already hit “peak car,” a point of market saturation characterized by an unprecedented deceleration in the growth of car ownership, total miles driven, and annual sales.

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The decline of driving in the U.S.

Americans began taking their foot off the gas pedal well before the recession.

Energy an urban-planning nerds have been pondering a very interesting question these days – has the U.S. passed peak car?  Ever since the recession, Americans have been driving less, getting fewer licenses, and using less gas. But is that just the work of the recession, or something more permanent?



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Getting around the peak car conumdrum

New breakthroughs in connecting cars to the cloud (and eliminating the need for car ownership) show what a better future for cars might look like.

The global automotive industry is on a run by all accounts. Globally, sales are surging. Advances in hybrids, electric vehicles, and even conventional petrol engines are delivering eye-popping mileage gains.



Continue reading… “Getting around the peak car conumdrum”