It has been a tough year for the auto industry. Global sales have slipped 5% and the once-hot China market is in decline. Autonomous vehicles, the industry’s shiniest object, need more dollars and years to go from dream to reality. It is no surprise auto executives from Yokohama to Wolfsburg to Detroit have announced nearly 75,000 layoffs in bits and pieces over the past year. One top auto executive told me there is no standing still in the car business—you’re either growing or cutting.

Source: Wall Street Journal December 06, 2019 16:02 UTC