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America's love for SUVs caught US carmakers off guard. Now, overcapacity is looking eerily similar to the era before the auto bailout

9 monthes ago   |   By Business Insider

Overcapacity is crippling the US automotive industry during what should be a boom time for carmakers.
Despite low fuel prices and low unemployment, the auto industry is laying off workers and closing factories.
Carmakers failed to notice the move by customers away from sedans towards SUVs, meaning the industry is showcasing recessionary traits despite record sales in 2018.
The US economy, despite lingering recession fears on the horizon, is in good health. Gas prices are low, with oil staying down after record domestic production and the limited success of OPEC's cuts to-date. US...
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