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If Ford, GM and Chrysler were all to fail, where do you think the executives that ran those companies would go? Most likely, they would create a whole new car company, secure private financing, and build cars again. Nowhere near as big as any of the ones that collapsed, but producing American cars nonetheless.
It's not like the automobile industry is not profitable, quite the opposite is true, but they cannot be profitable and make a quality product given the current situation they are in.
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