A 'perfect storm' points to a much smaller U.S. auto market by 2040 - CNBC
Analysts at Bain & Company predict a long-term decline in the U.S. auto market due to falling birth rates, restrictive immigration, and changing consumer behaviors. The industry faces a 'perfect storm' as it transitions from a growth sector to a shrinking one.
Why it matters
The potential contraction of the auto market has massive implications for the U.S. economy, manufacturing jobs, and urban planning.
Ten years ago, a record 17.6 million cars, trucks and SUVs were sold in the U.S. Some forecasts say the country might not come close to that number again.
The article presents economic analysis and demographic data from a consulting firm without partisan framing.
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