Crain’s Detroit Business
April 11, 2024
Kurt Nagl
The number of automotive-related layoffs and shift cuts in Michigan has mounted in recent months, but the state’s economy appears to be chugging along fine despite the volatility of its most important industry.
It is a curious dynamic that underscores the once-in-a-century automotive upheaval and a persistently strong labor market, experts say.
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Light vehicle sales are up from last year, signaling a market normalizing after years of supply chain disruption, said Glenn Stevens, executive director of MICHauto. Yet EV sales declined in the first quarter.
“EV sales and adoption are not accelerating as planned, and this is slowing investment and new capacity, which has caused a reduction in shifts at facilities currently manufacturing EVs, an adjustment in battery production investment, and a production start delay at multiple EV assembly plants,” Stevens said in an email.
