Cars have huge costs besides just production - amortized R&D, depreciation/damage to the tooling, union benefits, rework, shipping, amortized cost of future rec

Cars have huge costs besides just production - amortized R&D, depreciation/damage to the tooling, union benefits, rework, shipping, amortized cost of future recalls per vehicle, interest on debt payments. Also, it's one of, if not the most competitive market on the planet. There's a large number of incredibly well funded entrants, with competition in every segment. It's as close to a truly efficient market as you can get, and it's getting more efficient as Chinese and Indian brands mature.