Word: autos
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Dates: during 1930-1939
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When U. S. auto production started down hill last spring there was a steep and slippery grade ahead. With all four wheels locked, the industry slithered down from a top weekly production of 90,280 (at the end of March) and skidded to a dismal pace of 32,445 (during the first week in May). Instead of crashing at the bottom, the motor industry stepped on the throttle, succeeded in topping an unexpected rise to 81,070 a week by the end of June...
Since then auto production has gone down a smooth grade to the late summer valley where the industry will change to its 1940 production models. Impatient for the next rise, the industry set the New York automobile show, which officially opens the 1940 model year, to begin October 15, earlier than ever before. But even this did not satisfy the impatience of motormakers to get the fall selling season started...
...that while it is set up to serve an expanding economy, the public is now buying at the rate of about 50,000,000 tires a year. In the first half of 1939, the industry sold 9,217,000 tires at little enough profit to the hard-bargaining auto companies, and 17,188,000 tires at a better markup to the public. Last week its big producers were able to report quite satisfactory profits...
...sold for $24, ran an average of about 14,000 miles, costing the average U. S. car owner 1.69 mills a mile; model 1938 sold for $19, ran an average of almost 27,000 miles, cost the average U. S. car owner only .73 mills a mile. The auto industry has not stood still, but it has not any better record...
Actually, although Eugene Grace did not say so, the auto industry, knowing that steel is overproduced, is demanding further price cuts as an inducement to order enough future steel to keep steel production going. Steelmen were again cursing their favorite customers from Detroit...