That is true, but as 3175375 says, the bigger problem I have is the fact that we rely heavily on selling our resources abroad to keep our economy afloat, instead of building up a manufacturing base. At least with the Japanese cars there are American workers being paid to assemble them.Regardless of where they are assembled, the components come from everywhere.
It was kind of inevitable though - with how small our population is (Florida alone has roughly the same number of people as our entire country) and how high costs are for production and distribution (huge distances to cover, high minimum wages + taxes), combined with the lack of export markets (oftentimes in countries where domestic vehicles had similar, or more features, for cheaper than our cars sold there), it's a wonder it survived for as long as it did.
Ford and Holden here would probably still be around if it weren't for their US overlords meddling and telling them what they should and shouldn't do - they ironically did their best when they were ignored by their US counterparts; Holden actually had some decent markets in the US, Europe, South America, Africa etc. and the biggest, most lucrative of these oddly enough was in the Middle East, but then GM decided that we needed to sell them Malibus that none of them wanted.