The Big (Auto) Short: The end of the combustion engine
Who will fall victim to the unprecedented changes in the automotive and transportation industries? There are several disruptions coming to a head—seemingly at the same time— from the transition to electric vehicles, to shared mobility, to online vehicle purchasing.
Auto dealers, manufacturers, parts suppliers, and subprime lenders face a tough road ahead, in our view. Some may already be structurally obsolete and unable to pivot given the capital intensity of their businesses—which is why we’re taking strategic short positions.
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