What was once described as the “mother of all industries” is now heading into unknown territory. The auto industry is indeed at a crossroads and car manufacturers must fasten their seat belts for what could be a very bumpy ride.

The industry has reached this turning point only within the last couple of weeks. Had we written this article describing the future of the auto industry just a few months ago, the outlook would have seemed very predictable: Toyota would be number one, US car manufacturers would continue struggling and the European auto industry would be holding on for survival.