Have you ever heard of the term planned obsolescence? Prior to 1920 products were made with the intent to stand the test of time. These products were sturdy; often hand machined, and ultimately provided the best in long-term value.
The problem experienced by business owners and craftsmen was the lack of return customers. You see, you could have all the satisfied customers in the world, but if you could not get them to return as repeat customers the longevity of your business remained seriously in doubt.
In the 1920s and 1930s businesses began adopting the process of planned obsolescence. What this ultimately meant to consumers was that the products they bought would not last as long because parts were intentionally designed to wear out near the end of their planned lifespan. In other words if the company planned for the vehicle to last ten years parts would begin to wear out after ten years or the total number of miles driven.
Essentially a company would determine how long they wanted to advertise the life of the product (i.e. a washing machine for fifteen years) and then produce parts as cheaply as possible to reach or slightly exceed that life expectancy...