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Coronavirus outbreak is a significant wake-up call for U.S. auto business

auto industry

GM primarily is out of the European market, and but it has been most vocal about increasing its EV choices. While Ford Motor Company has introduced an electrified Mustang and F-Series, and most sensationally the battery-electric Mustang Mach-E, GM has promised 20 new electric vehicles by 2023. And yet the current share for pure-electric-powered automobiles in each the worldwide and U.S. market is someplace between 1 and 1.5 {2787c7f66b79231db2b31e899d124306f3ec7253b44ee15c859428bb2963ccb7}.

The shape of the industry in the 2020s could be traced back to 2008.

Isuzu, Sollers JSC, and Imperial Sojitz have a three way partnership called Sollers-Isuzu, Sollers JSC owns 66{2787c7f66b79231db2b31e899d124306f3ec7253b44ee15c859428bb2963ccb7}, Isuzu owns 29{2787c7f66b79231db2b31e899d124306f3ec7253b44ee15c859428bb2963ccb7}, and Imperial Sojitz owns 5{2787c7f66b79231db2b31e899d124306f3ec7253b44ee15c859428bb2963ccb7}. BMW owns a 50{2787c7f66b79231db2b31e899d124306f3ec7253b44ee15c859428bb2963ccb7} stake, Brilliance owns a 40.5{2787c7f66b79231db2b31e899d124306f3ec7253b44ee15c859428bb2963ccb7} stake, and the Shenyang municipal authorities owns a 9.5{2787c7f66b79231db2b31e899d124306f3ec7253b44ee15c859428bb2963ccb7} stake.

For many many years, the United States led the world in complete car production. In 1929, before the Great Depression, the world had 32,028,500 automobiles in use, and the U.S. automobile industry produced over ninety{2787c7f66b79231db2b31e899d124306f3ec7253b44ee15c859428bb2963ccb7} of them. After World War II, the U.S. produced about seventy five percent of world’s auto manufacturing. In 1980, the U.S. was overtaken by Japan after which became world’s leader once more in 1994.

Why The Auto Industry Must Adapt Or Die

We’re certainly seeing revenue announcements from automakers reporting losses and drops in gross sales. It’s not a whole shock or an indication that the state of the general trade is dismal. The auto trade could be very cyclical and we’re in the course of a downturn … Read More