What strategic imperatives does the evolving structure of the industry have for automobile companies?

As the first decade of the 21st century drew to a close, the global automobile industry was facing unprecedented economic challenges. A deep recession had driven automobile sales down to levels not seen since the 1960s. Many long-established companies, including General Motors (GM), Chrysler, and Toyota, sought government aid to help them survive the downturn. Ultimately, Chrysler had to seek Chapter 11 bankruptcy protection. General Motors, also went down that road. In contrast, Toyota, with $19 billion in cash on its balance sheet, looked well positioned to survive the downturn in good shape.