DETROIT — Legacy U.S. automakers such as Ford Motor and General Motors should leave the China market to preserve capital amid the costly electric vehicle transition, a leading auto analyst said on Tuesday.
Murphy's guidance for the Big Three came during a discussion of the harsh cost-cutting measures they would have to take to be competitive with EV manufacturers like Tesla, as well as carmakers abroad. “Very aggressively manage your core business. And it’s really some tough medicine. There's a lot of really hard work to do here,” Murphy said at the event, which was put on by the Automotive Press Association in a Detroit suburb.
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