‘The pain is just beginning’: After 38,000 layoffs, Wall Street wakes up to ‘peak car’

For the auto business, “The pain is just beginning,” according to Nomura analyst Masataka Kunugimoto and his team. “We now expect global auto demand to be down 3%,” year on year, in 2019, he told clients recently.
He is not alone. At bank after bank, analy…
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