The automotive industry is facing a widespread decline, encompassing not only electric vehicles but also traditional markets. Anticipating a significant drop in new car sales across the U.S. during the summer, this trend challenges the current administration's assertions of economic health. Rivian's looming bankruptcy further signals trouble for the EV sector. However, amidst these challenges, Elon Musk's strategic pivot towards autonomous taxi services targeting Uber and Lyft worldwide remains a beacon of positivity. It reflects the inevitable direction of the entire automotive landscape. Looking ahead, it's plausible that private car ownership may become a rarity in the next few decades, reserved mainly for the affluent or those in rural areas of developed nations.
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