Although globalization and deregulation paved the way for significant new entry into the U.S. auto market, the worldwide car manufacturing industry has been exposed to few new entrants.
In fact, nonew major car manufacturers have emerged in thelast couple of decades simply because few industrial products (save for commercial airplanes and nuclear
power plants) are as complex to build as cars pow-
ered by internal combustion engines. Car manufacturers
also require large-scale production in orderto
be cost-competitive. T