Numerous automobile manufacturers, both big and small, existed during the early years of the industry, but increased competition began to reduce the number of companies. The economic depression in the United States following the 1929 stock market crash brought even more consolidation and competition to the auto industry. Many carmakers, such as Duesenberg with its stylish models, disappeared during the depression. Consolidation and sheer size, as well as innovation, helped the Big Three automakers survive. Thinking that farmers might gain by producing crops that could be turned into fuel or raw materials, Ford built a soybean processing plant. Soon two pounds of every Ford were made from soy products. General Motors survived and thrived with the standard volume concept, a financial strategy that has endured. GM set its prices to produce a 20 percent return on investment based on what it sold in an average year. Profits soared when sales were above average, and GM would still profit during leaner years.
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