News Coverage
Economist: Auto industry could create the next recession
Thursday January 17, 2019
The North American International Auto Show in Detroit will once again give car lovers reasons to brave the crowds and the cold, such as a chance to see the 2020 Ford Shelby GT 500 in the steel flesh.
But the auto show’s backstory is clouded by potential economic stumbling blocks at every corner — ranging from pinched pocketbooks to stormy trading on Wall Street to a highly volatile trade war between the United States and China, among other countries.
It’s possible that “the auto business will create the next recession, not housing,” Jonathan Smoke, chief economist for Cox Automotive, told a group of journalists gathered Sunday morning in Detroit for the auto show preview.