Slowing market may push carmakers to merge, says report

New York

A SLOWING car market worldwide combined with the costs of adapting to changes such as connected cars and self-driving vehicles may push carmakers to merge or form more joint ventures, AlixPartners LLP said.

Global car sales will rise at a 2.6 per cent annual rate over the next seven years, down from 3.1 per cent from 2007 through 2014, the Southfield, Michigan-based advisory firm said in a study released on Tuesday. The companies also will have to deal with the changing technologies.