After 38,000 layoffs, Wall Street wakes up to ‘peak car’

Just look at how analysts are talking about cars these days:

“The industry is right now staring down the barrel of what we think is going to be a significant downturn,” Bank of America’s John Murphy told a conference last week. But The Society of Motor Manufacturers & Traders (SMMT) reported that total car production in the UK was down 45%, year on year, in April. Read more about the decline of cars:
Moody’s is sounding the alarm on risky car loans
Carpocalypse now: Lyft’s founders are right — we’re in the endgame for cars
The failing automobile industry is pushing us toward a global recession
Cars are driving us toward recession
Apps like Uber and DriveNow may be hurting the demand for new cars, studies suggest
The UK car business has ‘exactly the same problems’ as the mortgage market 10 years ago, according to Morgan Stanley
British people have suddenly stopped buying cars

Source: www.businessinsider.com