The reason that the smaller auto companies went out of business after the stock market crash and after WW2 was because of the lack of capital. A car company is unlike many other businesses in the amount of money it takes to product. On a simple formula, if the average car has 15,000 parts and each part takes tooling that might be only $100,000.00 per part, what is the sum of the capital to build the car. (15,000 X $100,000.00= A LOT!!) Now you might say that a particular part does not take a 100G, but other parts like body dies might cost 100-250 million for a particular car. The small manufacturers just ran out of money. When you put a certain number of cars amortized over a fixed tooling cost, the tooling per car goes down and that is where you make money. Simple economics.