Ford and Honeywell resist the Uber attack in the automotive sector

Uber will soon go public and few companies are prepared to face the consequences of these services on the automotive and automotive sectors.

Jim Cramer of CNBC said Friday with the exception of Ford Motor and Honeywell, two automakers who focused on changing the dynamics of the global economy. More and more young, indebted consumers are inclined to evade car ownership and badociated expenses instead of cheaper options such as Uber and Lyft.

"As we approach the eve of Uber 's IPO, keep in mind that the automotive industry is no longer a fundamental part of this economy in the world. world, and that very few companies have seen it coming, "said the animator of" Mad Money ". I said. "Those who did it, Ford [and] Honeywell, they are rewarded. Everyone is suffering. "

US car sales are down, but new car prices are rising. Ford has reduced its automotive business worldwide, focusing on the Mustang and Focus Active in the US to maintain profitability, said Cramer. The rise of more than 10% Friday, apart from its first quarter earnings report stronger than expected released Thursday.

"I think it's actually a cyclical decline adding to a secular decline, which means that the whole industry is bailed out by long-term problems that are not going to go away. Are intensifying, "he said.

For companies exposed to the automotive sector, suppliers such as Illinois Tool Works and 3M reported a decline in single digit sales. Honeywell, meanwhile, was ready for the auto slowdown after splitting its automotive turbocharger business last October and "swept the numbers" out of its results last week, Cramer said.

"Honeywell saw it coming in. ITW and 3M, not so much," he said.

Investors should insist that Zuora CEO Tien Tzuo, who controls the underwriting economy, said how manufacturers need to adapt to the world of services, Cramer said.

"Uber is a sign that we have entered the twilight of the possession of a car, and perhaps even the idea of ​​possession in general," Cramer said.