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AngryData a day ago

Last time I looked at the total labor costs of producing a car in the US versus China or elsewhere and it was laughably small compared to the sale price.

Auto manufacturers did this to themselves thinking they could outsource all the heaviest labor portions and pocket the extra and that either the foreign labor would stay cheap and not foster the development of the industry in those countries or local labor would magically be ready whenever they needed despite being starved for decades. But they were wrong on both counts. And on top of all that they squandered all that extra profit they made so they can't seemingly afford to drop the capital needed to return to the cheaper high-volume low-margin market, atleast not with the massive managerial burden they have built up and sustained.