DETROIT -- Give Adam Jonas a mic and a stage, and you better brace for a rat-a-tat-tat of snap judgments.
When the managing director of Morgan Stanley told the Automotive News World Congress that traditional automakers have trouble competing against well-heeled newcomers, he was just warming up.
In the Q&A portion, he dished on markets and marques in the year ahead. Some highlights:
China: "Some growth, but entirely driven by government incentives. ... The bigger question: When does this market shift from demand to supply [exporting to the world]?"
India: Two percent of the population owns vehicles. "It has the potential to go straight to a shared-vehicle economy."
Europe: "Two to 3 percent growth, which means it's a 'good year' where the industry breaks even. Hard to recommend a buy there."
Russia: Irrelevant for now.
And a final shot at Volkswagen: "Equal weight on stock. What caused the emissions scandal? Hubris and arrogance."