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Although car sales plummeted, they never completely evaporated. Big companies such as Ford and GM responded to the economic crisis by cutting prices and limiting trade-ins but nonetheless continued to produce new cars with new features and designs. Smaller companies folded. Such conditions consolidated the automobile industry, driving out small independent producers and strengthening the hold of larger companies on the market. The Depression in essence created conditions for the modern "Big Three" to emerge and dominate the international automotive industry.
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This section contains 91 words (approx. 1 page at 300 words per page) |
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