Insight - Why does the world need so many cars, anyway?

Cutbacks: A Toyota Motor Corp dealership in Kawasaki, Japan. Global automakers are slashing production forecasts. — Bloomberg

GLOBAL automakers are slashing production forecasts, which will cost the world hundreds of thousands of cars in the coming months.

Yet any worries about this outcome belie the underlying problems of an industry marred by slowing sales and brimming output before the pandemic.