Americans used to have a thriving marginal automobile industry, plus what we were pleased to call The Big Three — General Motors, Ford and Chrysler. Marginal makers included Packard, Willys, Hudson, Nash, and Kaiser-Fraser, and there were others at the margin of the margin, like Crosley, King Midget and the infamous Tucker. That’s all gone now, leaving us with the Big Two-and-a-Fraction, Fiat-directed Chrysler not even strong enough to be considered a Half. If Ford is managing pretty well in the US, not having taken a government hand-out nor having gone bankrupt, the other Big One-and-a-Bit companies did take taxpayer bail-out money, and did go bankrupt.
There’s a lot of noise about how well the industry is doing, but it’s mostly just hot air generated by publicists. General Motors did…