When the Japanese really got in gear in the '70s, they brought new, innovative and high quality cars at cheap prices. That forced American manufacturers to change the way they do business. Still, it took some longer to change than others. Some went down kicking and screaming, and some have not completely changed, even today. But the consumer has been the winner, because they have far more choices and better pricing structures.
Cars are more expensive today, everything is more expensive.
But if you do a careful cost comparison, the American automobile consumer gets more for less. Ford probably led the way in its change. General Motors is so big, it's almost like a country in itself, and its corporate philosophies have been slower to change. Chrysler has probably been the most revolutionary, by merging, or really selling itself to Daimler-Benz. That's an incredible event, because Daimler-Benz was the most conservative and the least likely to go through a dramatic change.