With regard to the domestic auto industry, I'd very much like to see it succeed, because as someone once said, "competition improves the breed." The more competition in auto choices we have, the better ALL cars will be.
I remember Chrysler’s Lee Iacocca bleating over and over again in the early 1980s about "leveling the playing field" by demanding that the Asians build their products here. Well, be careful of what you wish for!
Now it looks like General Motors, Ford, and Chrysler are in as much trouble as the hapless "independents" in the 50s and early 60s. Hopefully, the situation can be turned around, but Chrysler’s fortunes appear especially bleak now that DaimlerChrysler is trying to sell off the Chrysler portion. If a private equity firm gets the winning bid, I can’t see how the company won’t be broken up and only the best parts, such as the Jeep brand, remain in production.
Since the 70s, a lot of people were "converted" to the imports, and many won't be coming back. Worse for the domestics, the children of the converts heard lots of stories about the "bad old days," so they in turn don't want domestic products either.
Don't take my word for it -- look what Joe Sherlock said in his blog, “The View through the Windshield." His dad worked for the Pennsylvania Railroad, once one of
Then contrast that with his personal experience with a 2005 Toyota Avalon: