By Clive Slovin
People love making predictions, especially during perceived inflection points. In 2008, General Motors slashed production of trucks and sports utility vehicles, citing high gas prices, which at the time had eclipsed $4 per gallon, a previously unthinkable threshold.
It prompted one auto industry analyst to declare: "The trend away from these vehicles is irreversible." Fast forward 12 years, and 'these vehicles' account for the vast majority of car sales in the U.S., and their share of the market is growing.
We've certainly seen no shortage of grand pronouncements since the coronavirus outbreak, including by many respected thought leaders in our industry...click here to read more.