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Gundlach Hates Automakers Long Term as Ride Sharing Grows

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Is the Uber Economy a Threat to U.S. Auto Industry?

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Jeffrey Gundlach sees a lousy future for automakers.

The billionaire co-founder of DoubleLine Capital said consumers will increasingly use car-sharing programs or services such as Uber Technologies Inc. and rely less on their own vehicles, a conclusion he reached after changing his own driving habits. The average car is parked 23 hours a day, which is “wildly inefficient” and leaves sales vulnerable, he said in an interview last week at the firm’s Los Angeles headquarters.