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U.S. Auto Industry At Competitive Risk Asserts Blunt Report From Execs

^{Published on 2024-12-18 00:21:32 - Forbes}
 

• The auto industry is at risk from an assortment of technical, political and philosophic challenges, asserts a "white paper" from a conference of top auto execs.

The article from Forbes, published on December 17, 2024, discusses a report from an executive conference highlighting significant challenges facing the U.S. auto industry. The report warns that the industry is at risk due to several factors including the rapid shift towards electric vehicles (EVs), supply chain disruptions, and increasing competition from foreign manufacturers, particularly from China. It notes that U.S. automakers are struggling to keep pace with the technological advancements and cost efficiencies of their global competitors. Additionally, the report points out the potential for job losses and economic impact in traditional auto manufacturing hubs as the industry transitions. The conference emphasized the need for government policy support, innovation in manufacturing processes, and strategic partnerships to navigate these turbulent times. The overarching message is one of urgency for the U.S. auto sector to adapt or face significant decline.

Read the Full Forbes Article at:
[ https://www.forbes.com/sites/edgarsten/2024/12/17/us-auto-industry-at-risk-asserts-blunt-report-from-exec-conference/ ]

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