I just heard on the news today that the Chinese car manufacture, Geely, is planning to sell their cars here in the U.S. for under $10K. The main reason why the cost is so cheap is because of the labor: $3.50 per hour for a Chinese worker VS. $64.00 per hour for an American worker. Their only fear is not to become like the Yugo in the 80's, but I think they'll succeed. Personally, I think it's great for the consumer, but very bad for American auto workers. It will probably still be a neat midsize car to drive around in, and I wouldn't mind owning one if their reliablity is top notch even though it looks like a mix of a VW Jetta and a Hyundai XG 350.
Here's a photo:
