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The U.S. auto industry ended 2018 with sales of 17.3 million new vehicles, which beat expectations, but the outlook for 2019 is uncertain. Among the twists and turns on the road ahead are the fallout of a slowdown in China and in the U.S., the overhang of tariff wars, the impact of new technologies such as driverless vehicles, and the preferences of millennial and Gen Z consumers, which will drive future demand.
If the past year saw plant closures and layoffs at companies such as General Motors, the industry heads into 2019 with more investments, alliances and forays into electric vehicles and other newer technologies. While the industry began the year on a tepid note with an expected sales decline in January, it does not mean auto companies won’t ride out any bumps, according to experts at Wharton and elsewhere.
Summary: The article on the U.S. auto industry in 2019 twists, turns and bumps highlights some of the main changes that have occurred in the past and recent years. In particular, the industry has witnessed massive growth as seen in the number of new vehicles sold in 2018. Approximately 17.3 million vehicles were sold, a figure that beat the expectation of the normal market trend. However, the outlook for 2019 is still uncertain due to several factors including the challenges faced in China and the U.S. as a result of tariff wars and new technologies that have impacted the market significantly.
Great article, in general all industries are unpredictable, but the auto industry in my opinion is the most unpredictable. It has always taken twist and turns that surprise even those working in the industry. With new technology, the future appears to be a mixture of transportation companies (Uber and Lyft), self-driven cars (Tesla), and electric car that force vehicle companies to change the structure of their products.
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