US automakers lost ground to imports primarily because American cars were more expensive than foreign cars but not correspondingly better, driven by higher wages and a unique fringe benefit package including lifetime medical care amounting to $1,900 per car by 2008.
causalpending
Speaker
Howard MarksEvidence Quote
“consumers concluded that cars made in the US were more expensive than foreign cars, but not correspondingly better.”
Created: 6/18/2026, 2:18:14 PM
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