Failure to learn from the past — During the oil embargo in the mid-70s, people were buying so many small, fuel-efficient cars that the market for heavy, gas-guzzling American-made icons was virtually nonexistent. Lee Iacocca, then chairman of Chrysler Corp., said, “Americans want economy so bad they will pay anything to get it.”
Twenty-five years later, we are buying so many heavy, low-mpg SUVs that waiting lists for popular models are as common as an insincere car salesperson.