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And don't feed me any crap that the market doesn't work. The market has to work, unless the government is going to tell you exactly which car to buy. The SUV bubble was made because of the decisions of the north american public. We decided to buy very expensive huge vehicles with overpowered V8 engines, that were very profitible to sell. And we did so in droves.
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Problem is, that ain't exactly so :-) What happened was that the automakers (for a lot of reasons, including getting around a bunch of regulations) decided to build SUVs. Then they spent a lot of money on advertising to convince a small part of the driving public to buy them. (Remember the line about how you can fool some of the people all the time...) But most of the North American public in fact didn't buy them: they bought smaller, more efficient Japanese and European cars instead. The Big Three were two self-important to pay attention to this market signal, and so their market share kept getting smaller & smaller. Now two of them are bankrupt, and the third would be if it hadn't pawned everything it could.