Notably, Iacocca had long been an advocate for smaller, sleeker vehicles akin to Europe’s makes. That’s how he won big for Ford with the Mustang and then the Maverick. AMC offered some domestic pressure in the 60s-70s as well. Chrysler was the Detroit laggard until he took the rein there.
But also notable, Iacocca used his megaphone to complain about EPA regs and Volcker’s interest rate policies…all while proactively restructuring his business to adapt. It put Detroit - and Chrysler in particular - better positioned to compete with the onslaught of Japanese competition.
Today’s parallels are clear. Detroit kicks and screams about EPA regs and California’s EV mandate, but these are the policies that have dragged them forward on global competitiveness. It ensures that, if we are moving into a second “Malaise,” there’s a path to recovery vs. an insurmountable climb.
While we’re tinkering at the edges trying to find ways to keep people buying oversized trucks and producing huge margins for the OEMs, I suspect the gravitational forces of higher interest rates, tariffs (particularly on aluminum + steel), and insurance costs are going to drag down those segments.
The investments OEMs have been making on batteries and electric drivetrains, as well as their more recent seriousness on EV charging infrastructure, ensures they’ll be able to pivot when they run out of runway in the current paradigm. The correction will be painful, but it’s not hopeless.
Anyhow, here’s the book. Looks to be long out of print (and frankly, it’s not amazing), but I’m sure folks can find it used if they look for it.
Thanks for this, lifelong Detroiter who has been marinated in auto culture and happenings all my life- we just take this stuff as background, motor city people have a certain kind of native intelligence about this industry that we take for granted all others know
I am now fascinated by this very particular 80s book cover style
I've found one copy of this book in all my travels to used book sales. His autobiography, on the other hand... 😄
