The reality that given a choice, Americans prefer cars produced by international automakers (Toyota, Honda, Nissan, Kia, VW, Mercedes, Volvo, BMW, etc.) over cars made by the Detroit/Big 3 (GM, Ford, and Chrysler). Quite a change from 1965, when the Big 3 controlled 91% of the US car market. But when forced to compete on quality and price with foreign automakers, the Big 3’s inflated above-market UAW wages accompanied by sub-standard quality was a sure formula for the Detroit 3 to lose half its market share, which has now stabilized at about 45%. And the big winners of that foreign competition? US car buyers who have never had more choices, higher quality, and lower prices than today, thanks to international competition. It’s a great example of Perry’s Law: Competition Breeds Competence.
Via MJP