“What we witnessed in November and December was just extraordinary.”
Ford is big loser, Hyundai-Kia big winner, and Opel is someone else’s problem.
Welcome to the Big Club of Saturation & Decline.
This is getting serious.
But average transaction prices rise to record highs.
The price of going upscale: New cars are too damn expensive, and Americans aren’t buying them anymore.
No one knows what’s going to happen.
Industry panics, overcapacity spreads, but government brushes off the wailing and gnashing of teeth, looks to EVs.
A big shift, at a cost of $3.8 billion – which it now has to borrow.
We knew “free money would inevitably end”: CEO Jackson. “Affordability would become an issue – particularly around new vehicles.”