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Recalls, labor relations and safety regulations are just a few of the challenges. And the rewards haven’t always been great just count up the bankruptcies.”The margins in the car business are remarkably thin,” Visnic says.He points out that Apple can turn a profit of a few hundred dollars on an iPhone the same cut a car dealer is happy to make on a sedan that costs 30 times as much.Matt Anderson, curator of transportation at the Henry Ford Museum in Dearborn, Mich., says it’s been nearly a century since a new car company really established itself.”Some people would argue that the door kind of closed to new entrants in the automobile industry in the 1920s, when Walter Chrysler got in,” he says.Anderson says all kinds of companies in the past century got in the car business watch companies, bike companies, carriage companies because it seemed a natural fit to them. Almost all failed.Sears and Roebuck a disruptive innovator much like Apple in the early 20th century produced an automobile from about 1908 to 1912.”They certainly had a built in name recognition and customer base, so maybe it didn’t seem so far a leap for them,” Anderson says.Sears got out the business as the pace of the industry picked up and Henry Ford’s Model T began to take off.The lesson seems to have been that you can’t make the car business a side project.Bob Lutz, who in the past 50 plus years has been an executive at all three of the big Detroit companies, says every few years he got to know a reformer who came along with plans to reinvent the business Preston Tucker, John DeLorean, Swatch founder Nicolas Hayek.The SaltIf Apple Made iMilk And Nike Sold Fruit: Designer Groceries As Art”[Hayek] decided that we in the car business were all dummies, were all a bunch of dinosaurs, and so he was going to do what he called the Swatch car,” Lutz says.