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The auto industry is shrinking as the world reaches ‘peak automotive’ — and it is dragging down the entire international financial system, Business Insider

auto industry

Love, hate and electrical cars

As prices and warranty issues with element elements started to mount, the OEMs have begun to bring extra engineering and design work in-home. What is maybe most necessary in understanding labor costs and union work rules is that both are a product of collective bargaining. Historically, auto negotiations are highly structured occasions, involving lots of of union and management representatives serving on 20 or extra subcommittees addressing points such as high quality, security, sourcing, and different matters.

invested in startup Rivian, which plans to make electrical pickup trucks, in addition to in Aurora, a self-driving vehicle know-how firm. “A lot of the plans made in 2019 are going to be performed out over the next decade to create a much completely different auto business,” Dziczek stated.

On a side note, we will undoubtedly see cheaper and extra gasoline-environment friendly automobiles coming from Japan and Europe as gasoline costs continue to increase. But the true story shall be who adapts and delivers the primary autonomous car. This is fascinating, and my odds are on companies that rework or adapt fast.

“We expect the market downturn to proceed in 2020, and anticipate ongoing headwinds in our China enterprise,” Matt Tsien, president of GM China, mentioned final week because the U.S. automaker reported a 15% drop in 2019 China gross sales. On Monday, Ford stated its China auto sales slumped greater than a quarter in 2019 for a third 12 months of decline. The newest fall, nevertheless, was … Read More