by The results of the global automotive industry for the first six months of 2019 are not particularly encouraging. While previous years saw stability and even moderate growth in the market, the first half of the year marked a significant decline. 
Global car sales in 2019 dropped by 7% immediately, which is a very serious signal. Among the most important global markets, the largest slump was in China, with a 13.7% decrease compared to the first half of 2018. The record holder was Turkey – down 45%.
Thus, Ukraine with a minimal sales growth in the first half of the year performed relatively well against the overall background. In the EU, the decline over six months was 3.1%, and for June, it was 7.8%, indicating that the pace is accelerating. According to DW, the sharp decline in auto component orders indicates an impending crisis in the industry. It is known that the purchase of components and spare parts is planned in advance, meaning that automakers are preparing to reduce production volumes. Based on these data, Bosch’s Deputy CEO Stefan Asenkerschbaumer predicted a 4.5% cut in car production.
BASF believes that the decline in the automotive market is the main reason for the losses. Individual automaker indicators are also not very encouraging. For instance, PSA Group sales decreased by 12.8%, and Daimler reported a loss of 1.6 billion euros in the second quarter of 2019. 
Experts also note a decline in automotive production profitability. Previously, Mercedes’ profitability was 6-8% of the car’s cost, but now it is 3-5%.
Of course, the economy is cyclical, and the automotive industry experiences ups and downs. However, now is not the best time for a downturn, as automakers are currently undergoing a transition from gasoline and diesel cars to electric vehicles. Billions are being invested in the development of electric cars, so a drop in profits is very untimely. Furthermore, switching to electric vehicles needs to be fast, as new competitors (primarily Tesla) are not sleeping and, on the contrary, are setting sales records. Regarding the reasons for the decline, there are two versions.
One suggests that we are on the brink of another global crisis. The second explanation is that humanity is gradually losing interest in owning cars. All these carsharing services, Uber shuttles, and electric scooters with unicycles do not motivate people to buy cars. Time will tell which version turns out to be correct. However, in any case, a significant growth of the car market is not currently forecasted.
