if you ignore the human element
And that's you problem right there. The same people that can get tricked into revealing their SN#, mother's maiden name, etc. are the ones who would reveal their private keys to a scammer.
Fraud is a social problem, technology can assist in managing them, but not solve the issue. In the end, it's all about the human factor.
I read this as "We're not competitive on a global market anymore, so let's retreat into an shrinking niche, until we're gone or someone buys us".
Sure, they can't compete in price, considering Chinese subsidies, but how about competing in the upper market, with quality and sophistication.... Oh, wait... those are US car makers. They wouldn't know quality if it smacked them in the face.
Well, then. Leave the low end to China and the high end to Germany and Japan then.