Word: automen
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...since record 1955. What gives automen heart is the low level of consumer debt and the prospect of a big increase next year. One of the axioms of the new economics-and the exact opposite of the copybook maxims-is that rising consumer debt is a sign of prosperity, expanding in times of optimism, contracting in times of doubt. With recession in 1958, consumers paid off $1 billion in auto debts, the highest repayment since World War II. Now, with recovery, they should be in the mood to borrow for cars again. While predictions...
...Automen estimate that the Ford, Thunderbird, Mercury, Edsel, Lincoln and Continental now have a third of the 1959 model market, compared to 28% during the 1958 model year. The face-lifted Ford is apparently outselling the completely redesigned Chevy, whose manufacturer was harder hit by strikes than Ford, has had trouble getting enough cars to dealers. Not until January will Chevy production catch up to Ford. Ford's orders are double last year's, dealers are down to a low 21-day inventory, and Ford says it is having a tough time meeting demand. Boasted Ford General Sales...
Auto sales gave a concrete demonstration of the changing consumer attitude. Sales for the middle ten days of November took their steepest climb of the year to an average of 16,200 a day, about equal to November 1957. Since dealers so far have been handicapped by shortages, automen regard this as the first real test of the auto market, the biggest question mark in the 1959 economy. The Chase Manhattan Bank predicted sales of 5,500,000 to 6,500,000 cars. "Six million or more," it said, "would support a vigorous expansion of the entire economy...
...bill establishing National Safe Boating Week (at the request of his old service, the Coast Guard). The newsletters gave him a chance to sell his own ideas about issues on which the Sixth District was doubtful, among them reciprocal trade, which Chamberlain supported even though many Sixth District automen, fearful of foreign competition, were in opposition...
Whatever psychological forces are at work, the trend ever since 1946 has been to longer, wider, more futuristic cars-and more chrome ("jewelry" to automen). Those who bucked the trend usually rued the day. Henry Kaiser's small, chromeless Henry J. was a dismal failure. So was the drab 1954 Plymouth, which was 4 in. shorter than the year before. Sales dropped nearly 36% to only 381,000 cars a year. A year later Plymouth rolled out the longest (204 in.) car among the low-priced three and promptly boosted sales back up to 647,000 cars...