Cars are not really a growth industry. It seemed like it was because European companies were growing into new markets in China and other places. But in Europe, the market is pretty much saturated. People don’t NEED to buy new cars all of the time, and neither SHOULD they, if only for environmental reasons. Plus, cities are waking up to the detrimental effects that cars and their infrastructure have on the quality of life of their inhabitants. Many people don’t want to own a private care, and thanks to safer bike infrastructure, public transport and carsharing apps, they don’t need to.
So yeah, the car industry is probably going to slowly shrink for a while. That will be painful, but I don’t really see any alternative.
Cars are not really a growth industry. It seemed like it was because European companies were growing into new markets in China and other places. But in Europe, the market is pretty much saturated. People don’t NEED to buy new cars all of the time, and neither SHOULD they, if only for environmental reasons. Plus, cities are waking up to the detrimental effects that cars and their infrastructure have on the quality of life of their inhabitants. Many people don’t want to own a private care, and thanks to safer bike infrastructure, public transport and carsharing apps, they don’t need to.
So yeah, the car industry is probably going to slowly shrink for a while. That will be painful, but I don’t really see any alternative.