Word: automen
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Oddly, though, automen have seldom been so ebullient about the future of their industry. GM Chairman Thomas Murphy clings to a forecast of record U.S. car and truck sales in 1978. Ford is highly optimistic, with good reason: its sales in early December jumped 13% above those of a year ago, giving it about a third of the domestic market. The company will spend $2.5 billion next year to enlarge its plants, launching an expansion program that Chairman Henry Ford II describes as "bigger than anything we've ever tackled before in the 75-year history of the Ford...
...gave itself the right to veto any such decisions by the Transportation Department within 60 days. The Secretary had barely made his announcement when Bud Shuster, a Pennsylvania Republican, introduced a resolution in the House to overturn the decision. He cited, among other things, the bags' cost. Detroit automen have estimated that a reliable bag system would add $200 to $300 to the price of a car; the Government's figure is about half that. Indications are, however, that Congress will go along with the ruling...
...disappointingly in October and November, in December new-car sales jumped 16% above those of a year earlier. That surge made 1976 the domestic industry's best year since 1973: U.S. automakers wound up selling 8.6 million cars, or 22% more than in 1975. What is more, most automen believe that this year will bring even better results. They predict that sales of American cars will come close to the 1973 record of 9.7 million and, since prices are much higher, the industry will enjoy its first $100 billion sales year ever...
Failed Fiat. The automen are relieved that they will not have to spend the $600 million that would have been necessary to equip all 1978-model cars with air bags. But they are none too happy about Coleman's request that they put up $48 million of their own money to conduct a demonstration project over the next two years-which they regard as an offer they cannot refuse...
...automen's misgivings paled in comparison to Nader's fury. He shrilly denounced Coleman's caution as "a massive act of irresponsibility that will doom thousands of Americans to needless death and injury on the highway." Nader vowed that he would ask the Secretary of Transportation in the Carter Administration to reverse the ruling...