Answer :

Final answer:

Honeywell, IBM, and Xerox were involved in the technology sector, not the automotive industry in the 1970s. The dominant companies in the U.S. auto market during this time were General Motors, Ford, and Chrysler. However, poor quality and fuel inefficiency led to the rise of competitors like Toyota and Honda, particularly after the oil crisis.

Explanation:

Honeywell, IBM, and Xerox were not the dominant companies in the automotive industry during the 1970s; instead, they were key players in the computing and technology sector. The 1970s saw the dominance of General Motors, Ford, and Chrysler in the U.S. auto market. This era was characterized by a lack of competition, leading to industrial complacency and the production of overpriced, poorly built, and fuel-inefficient American cars.

With the oil crisis and the rise in gasoline prices, fuel-efficient Japanese cars from Toyota and Honda, utilizing advanced manufacturing techniques, became increasingly popular in the global marketplace. This shift highlighted the onset of globalization in the auto industry. By the 2010s, the concentration of the market share by the original three major American car companies had reduced significantly due to international competition.

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