Ideal capitalism means both parties benefit equally from the Exchange of goods and Services. Profit, on the other hand, is a symptom of an imbalance of benefits rather than of balance.
The gap between the buyer's and the seller's benefits is due to the seller's monopolistic or cartelistic behavior. I.E., Automakers have extraordinary control over prices, and barriers to prevent new entrants into the market.
Honestly, Electric vehicles were likely the only way Chinese Automakers could overcome the advantages of legacy automakers. Similar to Tesla, it developed new technology to build cars that bypassed the barriers to entry.
What Adam Smith said:
This is an interesting example.
CAFE was a political compromise between Automakers and politicians. Instead of increasing demand for fuel-efficient vehicles by raising fuel prices, CAFE regulated what was sold through a complex formula of vehicle types, standards, and penalties.
Over time, automakers lobbied for changes to the program to maximize profitability. (See Lawsuits against CARB)
Without CAFE, we would have more, not fewer, vehicle choices to buy.
See above: Capitalism was about the fair exchange of goods and services. Corporatism is about maximizing power to control market outcomes.
Why would someone prefer going to a smelly gas station rather than filling their vehicle at a lower cost?
Because........
Threatened by EVs, Oil Companies Employ Disinformation Tactics in Massachusetts - Union of Concerned Scientists
Unplugged, or unhinged: Big Oil's ad campaign against electric vehicles
Unmasking Anti-EV Forces: A Deep Dive into the Electric Vehicle Resistance
BTW, without barriers to entry like tariffs and Import restrictions, EVs would already be cheaper than ICE vehicles.
Good grief. That is capitalism at its best and exactly how the system should and must work. It would be suicidal if an auto maker focused on vehicles that minimize profits. I believe you are serious with the above statement and that is simply stunning.
Using Ford's often generous interpretation of "all new", it could "just" be the new GT500.........it would be an "all new" GT500 because there hasn't been one based on the current gen yet.