The automotive industry is slowing faster than expected, and the shift brings massive economic threats.
The sector experienced a "sharp downturn" in production and sales through 2018, and projections call for a similar decline through this year, according to the International Monetary Fund. The IMF pegged the industry as a major factor in lagging industrial output, and said a prolonged contraction would directly affect the global economy.
The auto sector represented 20% of 2018's slowdown in GDP and roughly 30% of the slowdown in global trade, according to the IMF's latest
Source: News Formal (newsformal.com)
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