the recession, investors were deeply pessimistic about the car industry. Sitting on $1.3trn-worth of legacy investments in factories that rely on a technology that ought to become obsolete—the internal-combustion engine—the likes of Ford, Renault and Volkswagen don’t exactly look well positioned for the 21st century. Now, with car sales collapsing, a dinosaur business that employs 10m people directly faces a moment of truth .
There are other dangers. As recession bites, people may default on car loans, many of which are owed to carmakers’ finance arms. The value of second-hand cars is dropping, harming these finance arms through their leasing operations. There may be a permanent fall in commuting, as more people work from home—road-passenger numbers in China are still 57% below their pre-covid level. This prospect helps explain why oil prices have collapsed .
The industry should take control of its own fate. Car firms need to be pioneers in operating factories under new health protocols, from redesigning the choreography of assembly lines to providing health tests for workers. Big Western firms are starting to re-open some plants. This won’t be lucrative, but it will stem short-term losses.
They could sell the cars if they haven’t increase the prices that much,Now either they will reduce the prices dramatically to go on with their system or face bankrupcy.After awhile economies will open again if they go with a solution they can stay in the market but upgrade is key
That is what Global Cult wanted, Total dependence of populations on state so that they could be easily controlled.
I only know of one Dinosaur business and it collapsed in 1993.
What a shame! Nikola Tesla, one of the greatest scientists of all time, a humanitarian, who did not care about fame or money, would have never consented to his name or inventions being used by self-centered, self-advancing, psychopaths like Elon Musk!
It also stands out in fooling some of the people, all of the time.
Investors see this as the future. 🤔
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Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »