Hello.
Have been in and out of the auto industry for about 15 years. Did smaller 2-3 year stints with Chrysler, Visteon (Ford), and a shorter stint (6 mos) with GM (contract eng.). Also have spent some time outside the auto industry in companies such as G.E., Caterpillar, and BAE Systems mostly to diversify my resume. Have been through a number of auto industry downturns - 00-01, 03-04. Wasn't in auto during the larger downturns in 08-09 and now 18-19. It comes back, it always does....but it takes a couple years. The question is whether you want to give them another chance and aunte up again or just find another industry.
Personally, I got worn out of all the boom and bust cycles so opted to start a small business which has it's own set of problems. Also had to duck out for a while to deal with personal issues and get my head straight.....clear some baggage and get emotionally/mentally healthy. Still may get back into engineering, but likely will look to an auto supplier or non-auto industry again. There's a ton of industries that are much more stable than auto just have to be willing to relocate if needed. Try to negotiate a signing bonus upfront in case of a sudden change of heart by the employer ($5 to $10K signing bonus). You can get it. Get some guaranteed money upfront for your commitment, everything is negotiable. One of the worst feelings is giving someone else your complete faith and putting your fate in their hands without having some kind of security net (signing bonus).
The electrification of autos is only on the car level...trucks will continue to be internal combustion as higher torques and pulling loads requires energy that only petroleum products can provide at this time. There will still be a ton of jobs at auto suppliers for engineers with traditional skillsets, just need to look around. Just my 2 cents.