The sky is about to fall. Profitless Tesla is on the verge of eating Ford and General Motors' lunch, even as both legacy carmakers make billions, even as Americans continue to buy pickup trucks and SUVs.
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Wall Street is freaking out about a 'Motown Slowdown' — but the US auto industry is actually in fantastic shape (F, GM, FCAU, TSLA)
Over the past few months, a grim narrative has dominated reporting about the US auto industry.
Ford — which survived the financial crisis without bankruptcy or bailout only to see its stock decline 30% in the past three years — has been a focus of concern. Forget that Ford booked a record profit in 2016 of nearly $11 billion amid a record year for new-car sales. CEO Mark Fields is in trouble.
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